Brand audit: Impossible Foods
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You selected one 'challenger brand' and the category leader. You now need to identify another major competing brand. This allows you to compare your smaller 'challenger' brand to the industry leader plus one other major competing brand.
Write a concise, persuasive memorandum, not a research report. You are writing to the Brand Manager, to propose that you conduct a brand audit. Your memo will cover the following:
Brand Audit. Explain briefly the content of a Brand Audit and the benefits to be derived (NOTE: Assume the Brand Manager is not familiar with this analysis tool, so briefly explain the contents and benefits to the brand).
Target Market. Profile the 'challenger' brand's primary target market consumer.
Industry Summary. Provide a profile of the total competitive industry and name all significant brands that are primary competitors. A deeper review is needed for the two major competitors you have selected. This allows your brand and the main competitors to be compared in key areas (e.g., market share, level of distribution, product lines, POP / POD, etc.).
Key Marketing Issues. If you are aware of any key recent changes in the marketplace (e.g., loss of market share, increase in social media negative consumer comments, growth of a competitor, etc.) provide that information as part of the rationale for the audit.
Avoid Analysis. You are making no brand improvement recommendations—that can occur only when the audit is complete.
Much of the data in this memo are saved and used in the Brand Audit.
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Solution Summary
Brand manager, Impossible Foods is requested for a brand audit in a structured manner in this response. The related references are also provided.
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In compliance with BrainMass rules, this is not a hand in the ready assignment but is only guidance. Please do not copy and paste any part of my response
TO: The Brand Manager, Impossible Foods inc
FROM: Brand Executive
DATE: September 5th, 2021
SUBJECT: Brand Audit
I propose that I should conduct a Brand audit for our company Impossible Foods. Conducting a brand audit will help increase the profits of the company, get clarity on the current marketing activities, and know the thinking of the core customers. A brand audit is a checkup that assesses our brand's position in the market, enumerates its strength and weaknesses, and provides ways of strengthening our brand. A brand audit will provide you with an overall picture of how the Impossible Foods brand is viewed in the food processing industry. Brand audit carries out an analysis of internal branding, external branding, and Impossible Foods' systems and infrastructure (1). The brand audit will give an insight into the positioning of the brand Impossible Foods, the loyalties of customers, our company's identity, Impossible Foods culture, consistency of message/ voice, and how we stand in comparison with competitors. Brand audit of Impossible Foods will increase the focus towards our target customer, help rejuvenate the emotional connection with customers, and revitalize the Impossible Foods brand. Impossible Foods must conduct a market audit because it will help our company leverage our innovation and enhance Impossible Foods' visibility. During the brand audit process, we will identify our unique brilliant proposition, develop our internal definition of success, and keep our actions true to our brand. Moreover, during the brand audit process, we will evaluate our external marketing materials, review our website, and re-examine our social media data. The brand audit also means surveying customers, potential customers, and employees about the brand Impossible Foods. We must conduct a Brand Audit for Impossible Foods because it will help us evaluate internal communications and customer experiences. In addition, the brand audit will help appraise our brand strategy, brand platform, and brand assets. The brand audit will question our brand purpose, clarify brand positioning, and explain the value proposition. The brand audit will test if the brand voice is distinct ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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