Brand Marketing Brand Audit Project

Section II – BRAND EXPLORATORY (15%):Uncovers brand knowledge structures for the core brand as well as its competitors.Provide detailed information as to how consumers perceive the brand; awareness, favorability & uniqueness of associations.Uncover the knowledge structures for the core brand as well as its competitors
Brand Associations: what consumers think of the brand and its corresponding product category; create a Mental Map for your brand (example p. 151 of text; handout example)
Brand positioning analysis: create positioning statement & positioning map relative to competition (see pages 6 & 7 of this guide).
What are the overall consumer perceptions vs. competition?
Brand mantra – does one exist? If not able to be found (usually the case) what would you recommend (see text & week 3 class handout).Typically, a mantra is not a company slogan.Section VI – STRATEGIC BRAND MANAGEMENT RECOMMENDATIONS (20%)Discuss your team’s ideas & recommended strategy to reinforce or revitalize the brand into the future; what is your rationale; why will your idea(s) enhance the future equity of the brand
What possible relationships may be formed among the firm’s products to create or capture opportunities realized in the SWOT analysis?
Will you need to make any adjustments to the brand’s portfolio?
How will your recommendations enhance consumer awareness and image associations of the brand?
Are your recommendations consistent with your brand’s mantra?
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Brand Marketing Team Brand Audit Project
John Krupa Jr. – MRKT6035
Graduate Studies – College of Management
Students will form brand management teams in groups of 3 or 4 to work on this project. Your
assignment will be to take a brand of your team’s choosing and conduct a brand audit.
Anatomy of a Brand Audit
A brand audit provides an analysis of an organization’s brand and its brand management
and marketing effectiveness. It assesses a brand’s strengths, weaknesses, opportunities, and
threats. It identifies brand growth opportunities including those achieved by brand
repositioning and brand extension. The audit should result in recommendations to improve
brand equity, brand positioning, and brand management and marketing effectiveness.
General Guidelines
o Every team must study a different brand from among the world’s leading 100 brands
published by Interbrand each year – http://interbrand.com/best-brands/best-globalbrands/2016/ranking/ Brands are assigned on a “first come, first served” basis. Each
team will submit one formal final written document.
o Final presentation will be a summary of the team’s research and present your team’s ideas
& recommended strategy from your analysis that will reinforce or revitalize the brand
into the future. A complete final detailed written report combining all sections will be
due week 10 at the time of your final presentation.
The following pages contain the project outline and some additional resource tools that
should be utilized in the course of the project.
1
Brand Audit Project Outline
? Section I: BRAND OVERVIEW (10%)
o Background & history of brand to be studied
o Background about the industries
o Consumer analysis: trends, motivation, perceptions, needs, segmentation, behavior
o Current situation analysis – overall company & industry performance
? Section II – BRAND EXPLORATORY (15%): Uncovers brand knowledge structures for the core
brand as well as its competitors. Provide detailed information as to how consumers perceive the
brand; awareness, favorability & uniqueness of associations. Uncover the knowledge structures
for the core brand as well as its competitors
o Brand Associations: what consumers think of the brand and its corresponding product
category; create a Mental Map for your brand (example p. 151 of text; handout example)
o Brand positioning analysis: create positioning statement & positioning map relative to
competition (see pages 6 & 7 of this guide).
o What are the overall consumer perceptions vs. competition?
o Brand mantra – does one exist? If not able to be found (usually the case) what would you
recommend (see text & week 3 class handout). Typically, a mantra is not a company slogan.
? Section III – BRAND INVENTORY (15%): Suggests the basis for the brand’s positioning; offers
insights to how the brand’s equity may be better managed by assessing the consistency in
message among many of the brand’s marketing activities.
o Assess the brand’s elements for your brand – what are they? Do a complete inventory using
the 6 criteria / guidelines discussed in class.
?
How does the brand build/defend them?
?
o
How do the various brand elements help achieve brand objectives (how do their usage
relate to the) – what are the affects/effects?
Current marketing programs; give examples:
?
o
How well are they designed?
? Do they support the brand’s equity?
Competitive points-of-parity (POPs) and points-of-difference (PODs)
? Section IV – BRANDING STRATEGIES (15%): How does the company approach its’ market(s) extensions, sub-brands, secondary brand associations, etc. Create and discuss a brand portfolio /
hierarchy analysis – a graphical/visual representation of all products sold by the brand
?
o
Illustrate the relationships among the firm’s products / brands
? Are there commonalities or distinctions between the various brand elements?
Competitor’s brand inventory; compare your inventory to competition; discuss similarities
and differences.
? Section V – SWOT ANALYSIS (15%)
o Conduct / research SWOTs analysis for your brand (library databases; see section in handout
for guidelines)
? Section VI – STRATEGIC BRAND MANAGEMENT RECOMMENDATIONS (20%)
o Discuss your team’s ideas & recommended strategy to reinforce or revitalize the brand into
the future; what is your rationale; why will your idea(s) enhance the future equity of the brand
2
o
o
o
o
What possible relationships may be formed among the firm’s products to create or capture
opportunities realized in the SWOT analysis?
Will you need to make any adjustments to the brand’s portfolio?
How will your recommendations enhance consumer awareness and image associations of the
brand?
Are your recommendations consistent with your brand’s mantra?
FINAL TEAM PAPER & PRESENTATION
Your team’s challenge is to present your findings, conclusions, and creative ideas outlined in your project
paper in a 15-20 minute presentation given to the class (week 10).
? Paper Organization: Use of Heading and Sub-headings for each subject area; in-paper citations
(APA 6th edition); see note about research references below
? Creativity /Style / Professionalism
? Use of Visuals
? Grammar/Spelling/Format/Citation of sources – APA Format
Presentation Guidelines:
Your group presentation should be a top-line summary of the key points.
Presentations should be limited to approximately 10 minutes in duration allowing for some brief
class discussion (practice makes perfect).
Use of visuals (i.e. PowerPoint) is required. Printouts of presentation slides should be included as
an appendix to your final paper.
It is expected that each group member will present.
Professional dress is not a requirement; professional etiquette is – be ready, on-time, and consider
your audience.
Note: Final paper should also incorporate final versions of your previous “mental map” and “brand
hierarchy” exercises.
Note: a minimum of 5 outside references – NOT including the company website must be included in your
overall research and must be cited in the document using the citation format above.
Final Team Presentation Evaluation Rubric
Team Presentation Evaluation Rubric
Introduction to Class
Organization of Presentation
Quality of Visual Aids
Major Points Outlined
Evidence of Industry Knowledge
Strong Conclusion
Completed in Allotted Time
Style
Creativity
Evidence of Teamwork
Excellent
4
4
4
4
4
4
4
4
4
4
Good
3
3
3
3
3
3
3
3
3
3
Fair
2
2
2
2
2
2
2
2
2
2
Poor
1
1
1
1
1
1
1
1
1
1
3
NOTE: Following page materials provide guides to accomplishing various steps of the Brand Audit
Project
S.W.O.T. Analysis
• Strengths are those aspects of the internal environment that can help the firm address
a present problem, issue, or opportunity: includes organizational capabilities,
processes excelled at, protected intellectual properties (patents, brand strength, etc.),
customer relationships, experienced management team, etc.,
• Weaknesses are also internal to the company and are negative factors or deficiencies
that do not allow the firm to reach its full potential. Usually concern missing
capabilities, inefficient processes, poor customer experiences or relationships, gaps in
management skill sets, etc.
• Opportunities / Threats: Exist outside (external to) the boundaries of the firm. All
opportunities and threats will exist at their present levels even if the organization in
question does not exist.
• Opportunities come about because of changes in the marketplace, improved
cost structures, government regulation favoring company’s products, etc.
• Threats arise usually due to new or stronger competition, increased costs,
problematic regulations, etc.
All issues that affect the success of an organization’s strategies, but the organization
has only limited influence on them.
Generally, the SWOT analysis is portrayed as a matrix containing brief bullet pointed
summary text with strengths listed over weakness and opportunities over threats.
Internal
Internal
External
External
4
5
Example SWOT Analysis
Resource Guide on How to Create a Positioning (Perceptual) Map
Positioning refers to the perception of a product in the minds of consumer in relation to its
competing product. A positioning map is a graphical device that helps you visualize your
brand and it’s products in the market place, relative to competitive brands and their
products. You can use positioning maps to define an overall product strategy before creating
a product, or to craft the unique value proposition and messaging for the brand overall.
It is a basically a graph that represents the strength or extent of the two product
characteristics on x and y-axis. For example, to find relative position of different brands of
coffee shops in respect of customer perception of comfort of their environment and food and
beverage choices. the graph may represent choice along x-axis and comfortable environment
along y-axis. Then each of the stores are plotted on the graph according to the assessment of
customer perception in respect of these two characteristics.
This link may provide some assistance – others sites may be available on the Internet as well.

Free Download


Guide for Creating a Positioning Statement for Your Brand
6
Here is a relatively simple process for creating a positioning statement. Start by writing the following
down on a piece of paper:
[Brand Name] provides ___(1)___ with ___(2)___better than any other [Your Industry]. We do this
by ___(3a)___, ___(3b)___, and ___(3c)___.
Next, ask yourself the following three questions.
1. Who is Your Target Market?
This should be a pretty straight-forward question. Who are the types of businesses or consumers you
want your brand to reach? What are their interests? How do they make decisions? Who or what
influences them and why? The more specific you can be, the better. Think about all of this, then write
down your target market in slot 1.
Examples: Men ages 24 -35; Park Rangers; Upper-Middle Class Expectant Mothers
2. What Unique Value Do You Provide Them? What is you value proposition?
What do you think you’re the best in the world at? What value do you provide your customers that
no one else can provide? What service offering are you most confident in?
Examples: The lowest prices on sporting goods, The highest quality hats, More peace of mind
3. Why Should They Believe You?
How can you back this up? This could mean anything from showing your process to sharing data
statements to prove that you’re for real. Make a list of three reasons to believe.
Example:
a. We eliminate overhead by selling online.
b. We form partnerships with major brands to sell their overstock content.
c. We can match any other price you find online.
Example: The ABC store brand provides Men ages 24 -35 with lower prices on sporting goods than
any other sporting goods store. We do this by eliminating overhead, forming strategic partnerships
with major brands, and matching any other price on the web.
If done right, your brand positioning statement is internal-facing only. This shouldn’t be viewed as an
elevator pitch or a tagline, but rather as an opinion on who you are and who you want to be. Here are
a few questions you should ask as you proofread your Brand Positioning Statement:
?
Can we really stake claim to this position? Does someone else provide this value to this market
better than we do? How can we adjust our target market or offerings to better position ourselves?
?
Does this leave room for future growth? Can we change one element to attack new verticals or
would we need to rewrite the entire positioning statement?
How comfortable is the rest of the company with this position? Are we comfortable being the
low cost provider, or would we rather be a luxury good? Does this positioning
statement match your brand’s essence?
7
Keller C.B.B.E. Brand Building Pyramid Ch. 3 p. 80
See list of questions on pages 95-96 to help in your analysis.
8
Brand Value Chain Concept – p. 100
9
Constructing a Mental Map
A person’s perception of the world is known as a mental map. With respect to branding
mental maps are a useful tool in attempting to understand the core values and consumer
associations with respect to a brand.
Core brand values are those set of attributes that characterize the five to ten most important
aspects of a brand. Core brand values can serve as the basis of brand positioning in terms of
how they relate to points of parity and points of difference. Core brand values can be
identified through structured process. The first step is to create a detailed mental map of the
brand. A mental map accurately portrays in detail all salient brand associations and
responses for a particular target market. Mental maps must reflect the reality of how the
brand is actually perceived by consumers in terms of their beliefs, attitudes, opinions,
feelings, images and experiences.
An example of a mental map for the Nike brand is illustrated below.
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