Brand Inventory and Brand Exploratory
ASSIGNMENT TASK:
Write a report on a digital brand (COCA COLA).
Brand Audit (Parts A, B & C)
A brand audit enables the organisation to know what factors are contributing to a brands performance. An audit gathers and evaluates information about the brand and competing brands. It can be used to answer questions such as; what is my brand? What is the core proposition of my brand? What do my customers/clients/employees think about my brand? Who are the competing brands and what are they doing? What opportunities are emerging and what can threaten the brand?
To do this, each student must first agree an appropriate level of analysis (corporate, umbrella, or
product brand) and an appropriate geographical coverage (global, regional, or local). Then you must gather information on characteristics such as; brand essence, brand positioning, differentiating attributes, presentation of the brand, and monitoring and evaluation processes.
Lastly, identify and critically analyse the key differences from the brand exploratory to the brand inventory.
A variety of sources should be used to assemble this profile. You should consult business publications, trade magazines, journal articles, books, and company sources such as annual reports and websites. Market research evidence would also be beneficial.
TASK GUIDANCE:
The following is provided as guidance and structure to your audit:
A) Brand Inventory:
• Coca Cola History and Introduction.
• Brand audit.
• Identify all brand elements (logos, symbols, characters, packaging, slogans, trademarks.)
• Identify and analyse the pertinent attributes of the brand (pricing, communications) and other relevant marketing activities: Target Market, Market Share, Competitor analysis.
• Profile direct and indirect competitor brands for points of parity and points of difference
a. Understand what consumers’ current perceptions may be based on
b. Assess perceptions of line and product extensions by customers and distribution channels.
B) Brand Exploratory:
• Analysis of any prior research studies (Has any research been done on the brand?) (What consumers say about any research that was conducted).
• Analysis of media – interpretation of brand and product category
• Generate exploratory quantitative survey and analyse results
a. Uncover current knowledge structures of the core brand and its competitors. Develop a detailed and accurate profile or “mental map” of brand knowledge structures from the brand exploratory
b. Determine depth and breadth of brand awareness, brand image (CBBE model) and necessary points of parity and points of difference with respect to the brands competition.
C) Key differences between the Brand Inventory and Brand Exploratory
• Critical evaluation of the key differences
• Which one(s) do you believe are significant to customer perception and to the overall appeal of the brand
• If few/little differences are found explain and justify why.
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