A brand audit is a detailed assessment of a brand’s current ranking in the market compared to other competitors. It provides information on how the business is performing in the market. A brand audit also aims at examining the image and reputation of the brand as perceived by customers. The two key elements of brand audit are brand inventory and brand exploratory. Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand exploratory of Cadbury in terms of the customer-based brand equity (CBBE) model.
Customer- Based Brand Equity (CBBE) Model
Building and enhancing a strong brand has been found to have profitable rewards in business, it has therefore become a prime priority for many firms. Customer-base brand equity (CBBE) is a model that has been adopted by Cadbury in order to build a strong brand that can compete with the other ones in the market. The company has followed the four steps of the model. The first step involves the establishment of appropriate brand identity, which includes enhancing customer awareness of the brand.
The second step deals in creation of proper brand meaning through powerful and unique brand connection with the customers. The third step involves invoking positive brand response while the fourth one involves engaging the customers so as to build a brand affiliation aimed at enhancing active brand loyalty. However, some building blocks are requisite in order to achieve these steps. These...
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...der to ensure that the quality of its products is upheld (Grover & Vriens 2006, p. 147).
In conclusion, the customer- based brand equity model is an important platform that may help in building a strong brand. It could assist a company in assessing its progress as well as providing a blueprint for marketing research activities. If properly planned and implemented, it could help the company in achieving its marketing strategies and in the realization of an increased profit margin
Grover, R & Vriens, M 2006, The handbook of marketing research: Uses, misuses, and future advances, Sage Publisher, California.
Rommaniuk, J & Byron, S 2004, ‘Marketing Theory’, Conceptualizing and measuring brand salience, vol.4, no 4, pp. 327-342.
Zikmund, WG & Barry, BJ 2010, Essentials of Marketing Research, 4th edn, Cengage Learning, Mason.
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