How you would build and manage the equity

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Reference no: EM133293896

Components

The brand audit is an in-depth examination of the brand. The goal of the brand audit is to assess the sources of brand equity and suggest ways to improve and leverage that equity. The brand audit is comprised of the following components:

1. The Brand History - Origins of the brand, key stages of growth etc.

2. The Brand Elements/Inventory - Analyse how the various branding elements (e.g., brand name, logos, symbols, slogans, packaging, positioning, values, brand mantra etc.) and marketing mix activities (e.g., integrated communications, pricing, channels) are contributing to this current brand status. Provide a comprehensive summary of the firm's current marketing and branding initiatives.

3. Competitive & Consumer Analysis - Identification of leading competitors, Points of Parity and Points of Difference. Analysis of target market, brand associations, and perceptions against competition.

4. Brand Equity- An assessment of the brands major sources of equity and development of a Consumer Based Brand Equity Pyramid for the brand.

5. The Brand Evaluation - Make recommendations as to how you would build and manage the equity of this brand in the future. What would you continue?

What would you change? How can brand equity be built and/or how can it be effectively leveraged into new product categories? Typically, the information needed to complete the brand inventory can be found on the company website, in trade publications, in company annual reports, other websites etc. Although there is no specific page requirement for the brand audit, typically the brand audit will be 15 - 25 pages in length plus any related appendices.

Reference no: EM133293896

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