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AIthough the U.S. accounting standards do not formally measure brand as an asset, it is one of the most underleveraged assets in business. "Consumers always pay attention to brands if the company behind the brand deliberately created a brand that has a strong trade name and mark and consistently uses it to communicate their product and services in every visual and verbal medium," says Elinor Selame, president of BrandEquity International.
A company can determine whether it is presenting the correct message consistently by conducting a corporate identity audit. Herewith are Selame's steps for performing an identity audit from The Corporate Identity Audit: A Company Self-Assessment:
I. SELECT THE AUDIT TEAM. This group must have enough influence to advocate the importance of...