BrandKnew September 2013 January 2013 | Page 27

26 Photo Courtesy: Guillermo Ricart, a dominican photographer BENEFITS OF BRAND AUDITING Breaking it down, here are the main benefits of brand auditing: · · · · · · · · · Establish strategies and course of action for the brand Develop a deep understanding of the brand portfolio Provide an insight into business structure Assess market positioning and brand image Define, monitor and benchmark competitors Define stakeholders Connect objectives and communication efforts Improve brand management Secure brand value Auditing allows us to benchmark our current position, study how our external as well as internal clients perceive our brand, service, quality and marketing. It also provides an internal roadmap to a unified vision of the brand inside a company - fundamental in order to ensure that everyone marches to the same drum. But more importantly, brand auditing helps us bridge the gap between where we think we stand and how we are actually perceived in the marketplace.