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How to Conduct Brand Audit Essay

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The Brand Amplitude Series: Tools for Brand Practitioners Part 1: HOW TO CONDUCT A BRAND AUDIT

By: Carol Phillips and Judy Hopelain

Part 1: How To Conduct a Brand Audit
What Is A Brand Audit?
A Brand Audit describes and evaluates the current state of a brand and its effectiveness in achieving a company’s business objectives. This assessment is the first step in brand strategy development and is used as a diagnostic tool for determining where the brand strengths lie and for identifying its potential vulnerabilities or shortcomings. It is the foundation on which the other steps depend. In this step you should use all available information sources, internal and publicly available. You may decide to take the time to conduct new research to supplement what you know or fill in the gaps. A brand audit:  Assesses how well the brand is delivering against the company’s objectives      Identifies customer wants, needs, and trends at the category level Inventories and categorizes all existing brand elements and assets (trademarks, sub-brands, logos, taglines) in the brand portfolio Describes relevant competitive market trends and your brand’s strengths/weaknesses Evaluates the brand’s current image (how it is perceived by customers and other key stakeholders) Identifies potential sources of differentiation, tablestakes, vulnerabilities

What You Need to Know
The purpose of a brand audit, just like a financial audit, is to assess your current position and identify key issues. A brand audit incorporates information about the customer, the company, the market and the brand. (See graphic to right) Brand audits take many forms – there is no single magic format. Regardless of the form your audit takes, the perspective is always that of the company and how the brand supports its overall objectives. To complete a brand audit, you will need to first identify all the possible sources of information at your disposal. This includes (but is not limited to):    ...

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How to Conduct Brand Audit. Anti Essays. Retrieved December 16, 2018, from the World Wide Web: http://snehaedu.com/free-essays/How-To-Conduct-Brand-Audit-546076.html