Whilst saving various places on Google Maps for navigation on my Android phone, I got annoyed that the phone only listed the address (Which gets confusing when you have a list)
To rename them to something more friendy, do the following:
1.) Star a place as per usual.
2.) Browse to https://www.google.com/bookmarks/
3.) Click "Edit" next to the one you want to change.
4.) Change the top line (That currently has the address) to the name you want.
5.) Click "Save"
Your Android device will automatically sync, and you will now see the user-friendly name when navigating :)