A brand audit is a focused series of procedures to assess the health of the brand, uncover its sources of brand equity, and suggest ways to improve and leverage its equity.
Conducting brand audits on a regular basis allows marketers to manage brands more proactively and responsively. A good brand audit provides keen insights into consumers, brands, and the relationship between the two.
Brand-tracking studies use the brand audit as input to collect quantitative data from consumers over time, providing consistent, baseline information about how brands and marketing programs are performing.
Tracking studies help us understand where, how much, and in what ways brand value is being created to facilitate day-to-day decision making