A brand audit helps you monitor this cycle so you keep your brand fresh and relevant and know when to reinvigorate or revitalize before sales start to slip. It is the consistency of the brand. The purpose behind a brand audit is plain and simple: to gain a fundamental understanding of where your brand stands in its current state.

A brand inventory is just one piece of a brand audit, which allows a brand to examine its sources of brand equity. A brand inventory provides a thorough profile of the current marketing and branding efforts of a company’s goods or services. Conducting a brand inventory consists of profiling all of these elements and compiling it into one comprehensive document.

The brand inventory is necessary to assess the extent of brand consistency and clarity of the brand. The inventory can provide necessary information for a comprehensive evaluation of brand.