What if the name of the person happened to be Cock, named after Mr Cock, and so the product was called Cock Cheese?
Literal-minded shoppers would no doubt say, with a tone of offended sensibilities, "it is only a surname. Stop thinking about the wrong meaning!"
Can we really say people are wrong for the associations their minds make?
There's two different issues here, and they keep getting mixed up.
As a marketing device, should they rename Cock Cheese, or Coon Cheese, or whatever other unfortunate name they happened to use once upon a time? That's one question, and it is not a question about morality. It's just a question of whether they think it will help sales. So, should they rename Coon Chesse? Ask the people in the sales office. It doesn't matter.
However, the second question is whether they should rename it, regardless of sales considerations. If they decide to keep selling Coon Cheese, should other people mount a campaign to get them to change it? Should they be pressured to change it?
My opinion is no, whether the name is Cock or Coon or whatever. The name is not racist. It may have racist associations in many people's heads, but the name is a person's name. It wasn't chosen for racist connotations. It was just a name of someone, and it had undoubtedly been the name of his father and quite a few generations back. It is not racist. (Or in the case of Cock Cheese it is not vulgar.) There should be no obligation to change it.
The fact that you, and a lot of other people, think of something racist when you see Coon Cheese is something that people in the marketing department will no doubt have to deal with, but there is no moral obligation to do so. They are not being racist if they decide to keep their brand name.
In general, there is a strong tendency in the modern world to declare, "I am offended by something you do, therefore you have to change. It doesn't matter if the offense is caused by my lack of knowledge or lack of understanding. You offend me, so it's your fault." It's a bit self centered.