Your assignment is to select a well-established brand and conduct an audit for that brand. The goal of the brand audit is to assess the brand’s sources of equity and suggest ways to improve and leverage that brand equity. Thus, brand audits are made up of brand inventories (comprehensive summary of the existing marketing and branding program) and brandexploratories(the results of empirical research), followed by brand strategy and implementation recommendations.
1.Select a well-established brand for which you will conduct a brand audit. It has to be in the US. Choose Automobile, coffee shops or Apparel.
2.First try to assess the brand identity (the aspirational equity of the brand)How does the brand want to be perceived by its customers (and who exactly are itstargetcustomers?)?Which components of customer-based brand equity do the brand stewards believe are most important for the brand?Focus on recent 10Ks, CEO speeches, investor calls,industry reports,etc.Try to come up with a positioning statement for the brand that reflects its identity
3.Conduct a brand inventory (comprehensive summary of the existing marketing and branding program)
A brand inventory measures the degree to which the brand’s external communications consistently portray its identity(i.e., do the image and identity match up?). Review as many marketing materials as you can find (e.g., website, social media, brochures, advertising). Copies of these materials should be included as appendices in your final report.Describe the current brand architecture and brand elements. To what degree do the brand’s current customer-facing communications (e.g., advertising and branding programs) consistently portray its identity?Forexample, are the brand name and its logo presented consistently? How do the current materials communicate the brand’s positioning to the audience? Which components of customer-based brand equity are being most strongly reinforced by the brand’s current marketing approach? How isthisbrand inventory similar to and different from 2 other competitors initscategory?
4.Conduct a brand exploratory for the brand by measuring customer perceptions of the brand
In a brand exploratory, managers conduct research with the brand’s customers to measure their perceptions of the brand on key components of customer-based brand equity. This exercise will allow you to assess the degree to which customers have internalized the brand’s aspirational identity.To what extent have customers internalized the brand’s aspirational identity?In designing your research instrument, think about how you can gain meaningful insights about the different levels of the customer-based brand equity pyramid, ideally in comparison to the same 2 other competitors you examined in the inventory.Describe your sample, data collected, limitations of your data. Be sure to explain why your research method was an appropriate one for obtaining the information you were looking for. Please include supporting materials (e.g., survey instrument, interview guide, summary statistics) as appendices in your final report. In describing your findings, be sure to describe your audience’s perceptions of the organization’s brand and articulate the brand’s perceived strengths and weaknesses, relative to the competition.
5.Synthesize findings and formulate recommendations
How does this work inform your assessment of the gap between the brand image and the brand identity? What changes to the brand’s marketing and branding program might help close any gap(s) that exist?Part III of the Aaker book (Chapters 10-14) may give you some ideas.Recommend short-term and long-term actionsthat will allow the brand to be more successful in the marketplace.
The maximum length of the document is 5 pages (single space front-and-back), excluding exhibits. And also required to present a Powerpoint document that includes all of the 5 suggested process steps.
MLA format, 12pt, Times, single spaced
Please provide your best quality on this project. And let me know if you have any questions