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Brand Equity Measurement System A brand equity measurement system is a set of research procedures that is designed to provide timely, accurate, and actionable information for marketers so that they can make the best possible tactical decisions in the short run and strategic decisions in the long-run. Brand Equity Measurement System Implementing this system involves: Conducting brand audits. Brand Inventory Brand Exploratory Developing tracking procedures. Designing a brand equity management system Brand Equity Charters Brand Equity Reports Brand Equity Overseers Conducting the Brand Audit A brand audit is a comprehensive examination of a brand involving activities to assess the health of the brand, uncover its sources of equity and suggest ways to improve and leverage that equity. A brand audit requires understanding sources of brand equity from the perspective of both the firm and the consumer. Specifically, the brand audit consists of two activities: Brand Inventory Brand Exploratory Brand Inventory The purpose of the brand inventory is to provide a complete, up-to-date profile of how all the products and services sold by a company are marketed and branded. For each product, the relevant brand elements must be identified, as well as the supporting marketing program. This information should be summarized both visually and verbally. Although primarily a descriptive exercise, some useful analysis can be conducted. Consistency Brand Exploratory The brand exploratory is research activity designed to identify potential sources of brand equity. The brand exploratory provides detailed information as to what consumers think of and feel about the brand. Although reviewing past studies and interviewing relevant personnel provides some insights, additional research is often required. To allow a broad range of issues to be covered and also permit those issues to be pursued in-depth, qualitative research techniques are often employed first. To provide a more specific assessmen