[MUSIC] Hi, my name is Ramon Diaz-Bernardo and I'm the Academic Director of the Specialization of Marketing Mix Implementation. And I would like to introduce you to the first course in this specialization which is Brand and Product Management. The professor that is going to be running this course is Luis Rodriguez Baptista which is an expert in product and branding. And it's going to take us in a series of modules that will begin in model one with the moving from idea to product, launching new products and the challenge of managing the life cycle. Model two is going to be about developing the brand, a compelling brand for your product and to inspire your most critical stakeholders and impact your bottom line. Module three is going to be about knowing how to communicate your offer in the brand architecture and naming. Next was going to be module four, that is going to took us in the brand portfolio building. And module five is going to be about translating your brand into compelling customer experiences. And module six is going to be about engaging employees to deliver the brand promise. As you may know, this course belongs to the Marketing Mix Specialization. And if you haven't already checked out the other courses in this series, we recommend you to do so. The other courses are pricing strategy, general management and retailing and integrated marketing communications. And remember that if you complete all four of these courses in this facilitation. You will be able to take part in the capstone project and put all your knowledge into practice. Thank you very much and I hope you enjoy the clip. [MUSIC] >> Hi, my name is Luis Rodriguez Baptista and I'll be your guide through the journey into product and brand management. Why are we here? I hope to answer this question by the end of the lecture. Let me ask you, how many packaged good products are launched this year? If you said around 33,000 you're right. How many packaged good products fail each year? If you said between 75% and 95% you're right again. Why do you think that they fail? Well one reason is the company's inability to support growth. So the product is very successful in the marketplace but the company can not support the demand. There's a product called Mosquito Magnet, research it. Another reason is that the product cannot fulfill the brand promise. For example, Windows Vista, taken out of the market. Also, the product might exist in a sort of limbo, because the consumer is not interested in its main benefits. For example, there was a product called Coke C2. This is an alternative Cola product for those people who prefer the taste of Coke to that of Diet Coke, but only half the calories. Nobody was interested in it. Another reason is the consumer don't understand the products, how to use it or what is it's purpose. For example you can look at Febreze sensatori air freshener players. This is a machine that used CD disk with five different scents per disk to actually augment the smell in your house. But they had to clarify that sensatori player does not actually play any music. Also it might be a revolutionary product without a market or too soon for its time. An example was the Newton by Apple. So why do these companies continue to invest in new products? Because continued innovation is necessary for the success of company long term growth. Therefore, organizations need to have multiple product development initiatives at any point in time, probably even in various product categories. However, as always, financial resources are limited and organizations need to choose where and when and how do they invest. Thus comes our white horse marching in, management of products and brands. That means choosing which products and which brands the organization launches and gets rid of. How and when it should be done. At the end we want to guarantee success in the marketplace. In this first module, we will talk about product management. Learn the simple tools that when applied, can help you to succeed. However, we will spend a great deal of time talking about brands. Why? I will show through an example. Which one of these bottles would you buy? If you said the first one, you seem to be a more of a rational person. But in research most people would choose the second one. Why do you think is this? Because they want the benefit that Evian offers, youth. And it also provides a guarantee on what you're drinking. Our brains work with rational and emotional responses. On the left side, we have the rational side, which is verbal, it's logic, analytic, quantitative, organized. On the right side, our brain behaves more emotional, imaginative, intuitive, qualitative, sensorial. A strong brand provides rational and emotional benefits. So, what is a brand? A brand is a promise, it's reflected in the clients experience with the organization. It's present in the minds and hearts of clients, and it's built and protected by the whole organization. It is a strategic asset, or like Jeff Bezos, Amazon's CEO said, a brand is what people say when you are not present. For me, in the most simplified world, product and brand management encompasses three areas, product and brand strategy, brand implementation, and brand metrics. We will cover these three areas in the course of this MOOC. However, to bring these areas to life, I want to talk about one of the best examples of product and brand management there is out there nowadays, Apple. It has been set that Apple's brand strategy is all about enabling people through technology. Their products strategy is also very clever. They have enable to create an unique ecosystem where your information is in one place and you can access from different devices. The product that Apple provides allow you to work and play with that information according to your need. Notice how they don't float us with 10 versions of products but only with those we can manage. Notice how they can adapt to different targets, like the tech guru or the tech novice like myself. And they do it through the application. If we talk about implementation, there are many interfaces between us and Apple. In module five, we will discuss the concept of touch point. For now, lets talk about some of these. Their physical product like the Mac Air or the iPhone are simple, nicely designed and yet very innovative. But also their software products like iTunes or the iCloud share these features. If we think of other interfaces like the store, they are precise delivery of their brand, empowering people to technology. When you go in an Apple store all you see is tables with product that you can touch and play with. This is reinforced by their staff, who are all like walking brand ambassadors. We will talk about this topic in module six. They might look different but they all behave consistently. Another interface is the service product like the genius park or the one to one training session. Again, all of the service developed to empower us customers and showing those same features, simplicity, design and innovation. As you can see, to captain a strong brand is imperative to manage their holistic experience, from beginning to end. Although I can go on and on I also want to share the metrics of Apple. First let's look at what we'll mostly be evaluated for, sales. There sales have continued increasing. Apple same store visits are also increasing. Apple's sales per square foot are the highest of any retailer. Apple customer satisfaction is one of the highest of any retailer. And finally, Apple stock prices is a strong performer. I hope that you're convinced that having a strong product and brand management actually pays off. Throughout this MOOC and the others which are part of the market mix certificate, we will develop jointly, you and me, start a business in the drinks category. I want us to experience together what it takes to build a lemonade business from scratch. From defining our product, branding it, managing the customer experience, engaging your employees, then pricing it, defining its communication campaign, its distribution, etc. The purpose of this effort is for us to be able to apply the tools that we will discuss in baby steps that we can handle together as we go along. Lastly, all of the content that you will see in this is a summary of 25 years of work experience with many companies, as an employee or as a consultant. I will share what I consider are the crucial elements of product and brand management, those issues which I have learned through many mentors. But I have had to experience implementing them in order to know what it takes to make them happen. The MOOC is organized in six modules, with an approximate six lectures per module, although some have more. However, I've done my best to provide you with very specific content. Condense lectures that run from anything, six to nine minutes. I hope you enjoy and share with colleagues. I will see you in our next lecture. [MUSIC]
