Risk
Here are a few examples, which will be addressed in a Brand Audit to minimise risk.
In our current strategy
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Is there something we forgot?
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Is there a market out there that someone forgot about, and therefor our current decisions are riskier?
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Was everyone who needed to be involved, involved? (stakeholders / value chain)
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Is there a possibility of a communication breakdown that will grind the current strategy to a halt?
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Are we making the wisest choices with the limited resources we have?
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Can we confidently tick all the boxes on the list of differentiators?
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When you know what people say about your competitors, you can adjust your own actions accordingly to become better than them.
Do we know enough about our competitors to ensure a competitive advantage?
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Are our clients and prospective clients familiar with our unique selling proposition?
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Are we confident that all the elements of our brand components are relevant and effective?
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Measuring your brand equity is important when expanding operations, establishing new markets or simply want to maintain your position in the marketplace.
Do you know what your brand equity is?