Building and maintaining brand equity over time is not an easy process, businesses often lose focus and purpose which slowly erodes the value of the brand. A review of a company's public brand collateral and customer touchpoints can help keep the business and those working for it, going in the positive direction.
To market your company, product, or service successfully, you need to identify, claim, and defend a unique competitive position in your target market. A position that is the most attractive to your potential customers, and that is in alignment with the value you provide.
As a brand strategy is pushed out by a company, it often adapts to environmental pressures that can potentially change or corrupt the desired perception of the brand.
A brand audit is a review in whole, or in part, of a company with respect to its public perception for the purpose of repairing negative issues that may be affecting bottom-line results.
A tagline has the potential to add clarity and value to a brand, but it's certainly not an essential brand component. In fact, lots of companies couldn't be bothered, and for good reason!
Whether you own it, are employed by it, or just visiting it, a business is a living creature with human attributes such as personality, hygiene, style and goals, as well as physical and emotional needs. And along with all that, a business has a perceived positive or negative disposition that can determine whether a customer will do business with you now or in the future.