Brand Audit©
benchex Brand Audit©
The benchex Brand Audit© examines the consumer’s decision-making processes…
As consumers are confronted by continually growing diversity on a daily basis, it’s apparently becoming harder for brands to make the right decisions – be this regarding the media, retail outlets or new brand and retail offers.
Even in the case of categories with little media influence and limited marketing budgets, a foundation is necessary for planning and making decisions… this foundation is consumer assessment and behaviour.
benchex developed the Brand Audit© for this very reason.
We uncover a wide range of topics along the Consumer Decision Journey and have been contracted by many brands to carry out a benchex Brand Audit©. Consumers are asked to assess all top brands in one category (regardless of whether all affected brands are our clients).
The aim of the Brand Audit:
To provide implementable results on the basis of each brand’s competitive strengths and weaknesses, according to the consumer’s perspective. Only comparing your brands with those of your competitors will allow you to draw suitable conclusions.
When auditing brands, we follow the Consumer Decision Journey purchase decision model.
Advantages and FAQs
Your benefits
You know where you stand
- What is important to the consumer?
- What is their evaluation of you?
- How is your competition evaluated? Who is the champion?
You know the direction it’s going in
- What is the motivation for the assessment?
- What should be done to address potential?
- Is your marketing mix being managed correctly? Are your brands present at the relevant touch points? Other relevant questions here: which brand is the champion? Against whom should you be measuring yourself?
You know what’s required of you
- Our implementation driven approach means that we provide concrete proposals based on your market feedback.
You know if you’re approaching your goal
- benchex assessments occur on a regular basis. This guarantees sustainable, noticeable improvements.
FAQs
What happens during a Brand Audit©?
- We use the Brand Audit© for more than one brand at a time. This means that consumers rate all the top brands in one category. A great deal of suppliers have also contracted us to complete a simultaneous Brand Audit©.
- We bring transparency to the purchase decision-making process: which brands do consumers know? How do they come into contact with the brands? How do they prepare for purchasing? Where does their information come from? Which role does retail play?
- We show you how your market performance compares with your competitors.
- Your feedback is calibrated through comparison with the competition and is, therefore, more accessible than stand-alone feedback would be.
- Our analyses allow you to focus your strategic measures on the consumer’s purchase decision-making processes. These also help you to optimise your resources with regard to retail demands and their relative performance.
- The benchmark in this is, therefore, your company and its immediate competition, yet not every company included in this benchmark is our client.
How is the questionnaire carried out?
- We recruit a representative sample of participants and present them with online questionnaires.
What does it mean when you say that many brands use the Brand Audit©?
- The principle is similar to the available market share figures in that all who acquire the data will see their performance as well as that of their competition. Only by comparing your own performance with that of your competitors can you draw conclusions and devise strategies.
- We prepare a brand-specific report for each client.
- Each client sees its performance shown alongside that of all competitive brands.