What are the best methods for conducting a brand analysis in a global market?

1 Define your brand identity

Before you can analyze your brand in a global market, you need to have a clear and consistent brand identity that defines who you are, what you do, and why you matter. Your brand identity should include your vision, mission, values, personality, voice, tone, logo, colors, fonts, and other visual elements that communicate your brand essence. Your brand identity should also be aligned with your business goals, customer needs, and market trends. You can use tools like a brand identity prism, a brand archetype, or a brand personality scale to define your brand identity.

2 Research your target market

The next step is to research your target market in each country or region where you operate or plan to operate. You need to understand the demographics, psychographics, behaviors, preferences, needs, pain points, and expectations of your potential and existing customers. You also need to understand the cultural, social, economic, political, and legal factors that influence your target market. You can use tools like market segmentation, customer personas, customer journey maps, or value proposition canvas to research your target market.

3 Analyze your competitors

Another important step is to analyze your competitors in each market where you compete or intend to compete. You need to identify who your direct and indirect competitors are, what their strengths and weaknesses are, how they position themselves, what their value proposition is, how they communicate with their customers, and what their market share is. You can use tools like a competitor analysis matrix, a SWOT analysis, a perceptual map, or a positioning statement to analyze your competitors.

4 Evaluate your brand performance

The next step is to evaluate your brand performance in each market where you operate or plan to operate. You need to measure how well your brand is delivering on its promise, how satisfied and loyal your customers are, how aware and perceived your brand is, how profitable and efficient your brand is, and how differentiated and competitive your brand is. You can use tools like a brand audit, a customer satisfaction survey, a brand awareness survey, a brand equity survey, or a brand scorecard to evaluate your brand performance.

5 Identify your brand opportunities

The final step is to identify your brand opportunities in each market where you operate or plan to operate. You need to find out what gaps, needs, trends, or innovations exist in your market that you can leverage to improve or grow your brand. You also need to find out what threats, challenges, or risks exist in your market that you need to overcome or avoid to protect or sustain your brand. You can use tools like a PESTEL analysis, a Porter's five forces analysis, a gap analysis, or a SMART goal setting to identify your brand opportunities.