Opinions, good instincts, and creative thinking are not enough when it comes to brand analysis. Brand analysis involves sizing up a business situation and deciding on a strategy. Two major concerns of brand analysis are the industry and the existing competitive conditions. These assessments are necessary essentials of brand analysis. They ensure the availability of long-term direction, establishing appropriate objectives, and essentially crating an effective strategy. Brand analysis includes knowing what a specific industry’s dominant economic features are. Also, brand analysis examines what existing industry competition is like and how strong each of the industry’s competitive forces is.

Effective brand analysis is achieved through an analytical sequence of strategic appraisals of a business’ external and internal environment, to establish issues, evaluate alternatives, and create a strategy. If these crucial assessments are not executed, a business may find that the brand it developed does not fit well with the environment of its intended industry and will not be capable of establishing and maintaining a competitive advantage for the business. Brand analysis requires a strategic evaluation of a business’ ecosystem. Any decisions should be based on sound analysis of a business’ external and internal structure.

In order to successfully establish a business’ brand, an evaluation of dominant economic features in an industry must be carried out. Industry, in this context, refers to several businesses with the same or similar product or service competing for the same customers. When evaluating an industry’s economic features, some common factors should be focused on. Some of these economic factors include the market size, the scope of competitive rivalry, the growth rate of the industry, the current growth cycle of the industry, the number of