Brand Audit leverage strategy
You are required to conduct a brand audit and devise a brand leverage strategy for a particular brand. Details are as follows.
PART A: CONDUCTING A BRAND AUDIT
A brand audit enables an organisation to assess the health of a brand, uncover its sources of brand equity, and suggest ways to improve its equity. You are required to conduct a brand audit of any one of the following brands:
decide upon an appropriate level of analysis (e.g., corporate brand or product brand) and an appropriate geographical coverage (global, or regional). Once you have established this, you should start to collect information from secondary sources such as news websites, business publications, trade magazines, journal articles, books, and company sources such as, annual reports and websites. You may also refer to results of any published surveys (please do not forget to formally cite these in your report).
Note: Although conducting a brand audit may initially seem as a largely descriptive exercise, please remember that the objective is not solely to describe what an organization is doing but to analyse its actions based on what you have learnt in this subject. Thus, remember to integrate theory in your report, and analyse and interpret your observations.
PART B: BRAND LEVERAGE
In this portion of the assessment, your task is to assess the sources of brand strength for your selected brand and suggest ways to leverage that strength in terms of a specific brand/line extension (of your own choosing).
You need to present a robust rationale for you brand/line extension strategy. You need to consider strategic issues (e.g., overall brand positioning) as well as tactical issues (e.g., pricing, packaging, and communications). Additionally, creative and executional detail with respect to names, logos, designs, slogans etc. for your line/brand extension is expected.
The aspects that you should cover in this part are as follows:
BRAND INVENTORY (1200 words approximately)
Brand positioning (i.e., analysing points-of-parity and points-of-difference)
SWOT analysis (in brief)
Strategic marketing elements (e.g., product, pricing, distribution, communications, etc.).
BRAND EXPLORATORY (1200 words approximately)
Competitive actions (in brief)
Consumer-brand relationships (e.g., brand resonance)
Recommended improvements in brand equity