Brand audit is concerned with the behavioural & psychological nature of brand equity, not the financial dimension, and it will be discussed in terms of the strength of a brand’s equity and its nature. In the management of a brand, the building, strengthening, and nurturing of its equity will lead to a more positive contribution to market value for the company. But from a strategic brand management standpoint, one is concerned with measures that will help better manage that equity. If successful, the financial value of a brand name will take care of itself.
The real benefit of conducting a brand audit is that it helps provide a look at the current state of knowledge about a brand’s equity as well as providing a fresh understanding of the brand. It will also provide a better understanding of what role advertising and other marketing communication has played and can play in maintaining a brand.
But, the most important question which comes to our mind is what should be reviewed? In a word, everything at least everything that is reasonably available and likely to be relevant to the brand. Obviously, this will include any recent research that has been conducted for the brand, but also studies of general market trends and other information about the category, distribution channels, competitive activity etc.
2. BRAND AUDIT: Ambassador Garment and Trade Plc:
The brand which we have taken for audit is Ambassador Garment and trade plc. It is one of the premium players in the suit market operating, in Ethiopia. The point which is intriguing to a researcher is how Ambassador has maintained its equity in the country. A mix of standardization & localization in Ambassador's products has enabled the company to become a renowned brand in Ethiopia.
3. A BRIEF HISTORY: Ambassador Garment and Trade Plc
Ambassador is one of the leading garment factories in Ethiopia. It’s a ready made suite manufacturing company mainly engaged in producing quality suits, coats and trousers. The factory is equipped with state of the art technology, skilled man power and strong quality production management system
Produce quality suits in affordable price from technology driven fabrics and satisfy the needs of suits.
- To be premium regional-brand in Africa in the production of men’s suits. - To secure sound market share in the global market at large
3.1. CONSUMER GOODS CLASSIFICATION
We classify the vast array of goods consumers buy on the basis of shopping habits. We distinguish among convenience, shopping, specialty, and unsought goods. As Ambassador deals with suits it can be categorized as shopping good as consumer characteristically compares on such bases as suitability, quality, price, and style.
Successful value creation needs successful value delivery. Holistic marketers are increasingly taking a value network view of their businesses. Instead of limiting their focus to their immediate suppliers, distributors, and consumers, they are examining the whole supply chain that links raw materials, components, and manufactured goods and shows how they move toward the final consumers. Ambassador looks at customer segments and considers a wide range of different possible means to sell, distribute, and service their offerings. 3.3. RETAIL OUTLETS
Marketing channels are sets of independent organizations involved in the process of making a product or service available for use or consumption. Ambassador Garment, the leading suit manufacturer in Ethiopia, has opened around 68 outlets at prime locations in Ethiopia. The stores sell the Ambassador's range of accessories including suits, footwear, shirts, and ties. The stores present a classic experience to discerning customers through well- designed and well-maintained interiors, attractive displays, superb assortments, spacious movements, and well trained sales persons.