A brand audit provides an analysis of an organization’s brand and its brand management and marketing effectiveness. It assesses a brand’s strengths, weaknesses, opportunities, and threats. It identifies brand growth opportunities including those achieved by brand repositioning and brand extension. The audit should result in recommendations to improve brand equity, brand positioning, and brand management and marketing effectiveness.
The following are typical components of a brand audit:
Strategy review
Marketing research review
Communications review
External information source review
Employee interviews
Human resource systems review
Proprietary brand research (performed by the auditing company, if required)
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Branding Strategy Insider is a service of The Blake Project: A strategic brand consultancy specializing in Brand Research, Brand Strategy, Brand Licensing and Brand Education
Hi Farith,
Typically, when one enters a new market, especially a new geographic market, one should perform an attitude and usage study to understand the dimensions of the market.
Having said that, yes, competitive branding analysis can be conducted in a market prior to entering that market using a methodology such as our proprietary BrandInsistence (SM) brand equity measurement system. (At the risk of sounding too promotional)The analysis would focus on product/service concept need and gap, competitors’ current positions, strengths and weaknesses, dissatisfactions with current competitors, most advantageous positioning opportunities, etc.
I’m happy to share more on this if you like.
Brad
Calling All Auditors
Lately, I’ve been wondering if anyone performs brand audits. It seems like it would be an important step to take, but I never heard of one taking place and I don’t know anyone who performs them. Of course, that could…
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Branding Strategy Insider helps marketing oriented leaders and professionals build strong brands. We focus on sharing thought provoking expertise that promotes an elevated conversation on brand strategy and brand management and fosters community among marketers. BSI is a service of The Blake Project, a leading brand consultancy based in the United States, serving marketers around the world.
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Can a Brand audit be a review on the competitors brand position, strengths, weaknesses and gaps, in a pre entry analysis of a market?
I am asking this question because my company is entering in a new market and we are looking at how our competitor’s brand is position in the potential market. Other areas of brand audit has already been done in the overall Brand audit of our brand.
Thanks very much.