Brand Audits

Ideally, a brand audit will be scheduled annually and receive as much attention as the marketing plan. But if not, it should be reviewed when any of the following situations occur:

• When contemplating a decision to enter a new market or product category in which you have not as yet established a position.
• When assessing the pros and cons of extending a brand into a new product category or developing a new brand for that category.
• When determining whether to sub-brand or utilize a corporate brand – and to assess the balance between the two.
• When a brand's market share is slipping or is not meeting realistic expectations because of competitive activity.
• When considering the establishment of a new product category in which your brand will be the first participant.
• When you are not certain of your brands position, strength or effectiveness in relation to competitive offerings.