Brand Audit
Lecture 4
3.2
Brand Audit
ï® In accounting, an audit is an inspection by an
outside firm of accounting recordsâ¦An assessment of the firm's financial health in the form of a report.
ï® Brand Audit assesses the health of the brand,
discover its sources of equity, and suggest ways
to improve and leverage that equity
Why is brand audit
important for the firm?
3.4
Importance of Brand Audits
ï® Understand sources of brand equity
ï± Firm perspective
ï® What products and services are currently being offered?
ï® How they are being marketed and branded?
ï± Consumer perspective
ï® What deeply held perceptions and beliefs create the true
meaning of brands and products?
3.5
Importance of Brand Audits
ï® Set strategic direction for the brand
ï± Are the current sources of brand equity satisfactory?
ï± Do certain brand associations need to be strengthened?
ï± What brand opportunities exit and what potential
challenges exist for brand equity?
ï® Recommend marketing programs to maximize
long-term brand equity
3.6
Angela Ahrendts
Not enough popularity among the brand's managers themselves !
ï¨How could it be popular enough for custumers then ?
The problem came from the brand
management because the luxury global
market was flourishing.
Identification of the points on which the brand had to work :
oUbiquity of the products
ï³ moderate prices, no link to the core business (trench coats).
oLack of British essence
ï³ production non-exclusively British. No authenticity.
oNo clear positioning on the luxury market.
Angela's solution :
oCentralization of the designing (and design team) ï³ every decision approved by one designer in chef.
oCentralization of the production in Britain.
3.8
ï® As a result of a brand audit, luxury goods
marketer Alfred Dunhill refined its classic
"English" appeal - which has been especially valuable in Asia - to...