Brand Audit, + TB Chapter 9

Question 1

Brand audit

Answer 1

A comprehensive examination of a brand to discover its sources of brand equity
Covers the brand inventory, brand exploratory, and conclusion

Question 2

Brand inventory

Answer 2

Supply side of a brand audit. How a brand and its nearest competitor is being marketed

Question 3

Brand inventory analysis

Answer 3

Brand hierarchy (eg: GM > Chevrolet)
Brand elements
Marketing mix
Secondary association

Question 4

What we learn from brand inventory

Answer 4

From hierarchy - too many brands, poorly segmented brands, well segmented brands
Brand elements - improper/inconsistent use of elements
Marketing mix - Inconsistent/consistent delivery of marketing programs

Question 5

Brand exploratory

Answer 5

Demand side of a brand audit. Determines underlying drivers of brand equity and its source

Question 6

Ways to measure brand exploratory

Answer 6

Qualitative approaches - map target consumer’s minds for a brand and competing brand
Quantitative approaches to investigate levels of awareness of a brand and competing brand

Question 7

Steps (in order) to measure brand exploratory

Answer 7

Qualitative first
Stop measuring when the same themes start to recur
Followed by quantitative

Question 8

What we learn from brand exploratory

Answer 8

Consumer’s POV on a brand and competing brand
POP and PODs
Basis of brand narrative (consumer’s description of a brand)
Basic brand resonance