Qualitative Dimensions of Brand Audit: An Exploratory Analysis for Measuring the Immeasurable

Abstract

Today in the world of new opportunities and changing demographics, brand audit is a very relevant concept and this concept is still in an evolution phase. As subjectivity, perception and emotional values are associated with brand, and psychic cost for parting with a particular brand is relatively more importantfor valuing brand equity and assessment of brand, hence this paper focuses more on qualitative dimensions of brand and elaborates qualitative research techniques for measuring the immeasurable. Each brand contains unique image value; hence different kinds of strategies are required for assessment of brand. Brand audit analyzes the strength of brand equity and it describes the positioning map of the brand in terms of its present position, market share, and most importantly overall impression of the brand and core brand values in the minds of customers. Brand audit is required for all kinds of organizations irrespective of goods and services as brand has a tendency to become less relevant gradually. Most of the companies do not exercise brand audit due to complexity associated with measurement of assessment of subjective attributes of the brand. Modem research associated with neuro-marketing suggests that customers make decisions through emotions, senses, and instinct and whenever a clash takes place between emotion and logic, emotion always triumph and customers thus give priority to take intuitive decisions over deliberative decisions. It has been found from the study that high emotional value and psychic cost increases the zone of tolerance of the customers and promotes sustainable development of the brand. As brand value depends more on intangible values and it lies in the mind set of customers so the perception, thoughts, belief, image and emotional attachment of the customers are investigated apart from reviewing the actual impact of brand knowledge on consumer response. Efforts have also been made to review and examine subjective attributes associated with brand.