Brand & Product Management Introduction

Coursera Certification
Course Name: Brand & Product Management
University name: IE Business School
Faculty: Professor Luis Rodriguez Baptista
This course belongs to the Marketing Matrix Specialization. The other courses are pricing strategy,
general management and retailing and integrated marketing communications. The faculty going to
take us in a series of modules in Brand & Product Management that will begin as follows:
Module 1:
It begins with the moving from idea to product, launching new products and the challenge of
managing the life cycle.
Module 2:
It 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 3:
It is going to be about knowing how to communicate your offer in the brand architecture and
naming.
Module 4:
It is going to took us in the brand portfolio building.
Module 5:
Module five is going to be about translating your brand into compelling customer experiences.
Module 6:
It will be about engaging employees to deliver the brand promise.
How many packaged good products are launched this year?

If our answer is around 33,000, you are right.
How many packaged good products fail each year?

According to Harvard Business School professor Clayton Christensen, each year more than 30,000
new consumer products are launched and 95% of them fail. According to University of Toronto
Professor Inez Blackburn, the failure rate of new grocery store products is 70 to 80 percent.
One reason is the company's inability to support growth. So, If the product is very successful in the
marketplace, but the company cannot support the demand. There is 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. A product in limbo is likely facing this
problem: The product features and attributes are not appealing to the consumer. If a product's
unique value proposition and core benefits are not distinct enough to set it apart from competitors,
then it has failed to convince its target market of its benefits.
Another reason is the consumer do not understand the products, how to use it or what is its
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 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.
Our brains work with rational and emotional responses. On the left side, we have the rational side,
which is verbal, it is 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.
What is a brand?
A brand is a promise, it is reflected in the clients experience with the organization. It is present in the
minds and hearts of clients, and it is built and protected by the whole organization. It is a strategic
asset.
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 during
this nook.
For example, it has been set that Apple's plan strategy is all about enabling people through
technology. Their products strategy is also very clever. They have enabled to create a 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 do not float us with 10 versions of products but only with those we can
manage. 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, let us 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 the service developed to empower 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 us look at what we will 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 are convinced that
having a strong product and brand management actually pays off.
Throughout this nook 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 nook is organized in six modules, with an approximate six lectures per module,
although some have more. However, I have done my best to provide you with very specific content.
Condense lectures that run from anything, six to nine minutes.

Brand & Product Management Introduction

Uploaded by

Copyright:

Available Formats

Brand & Product Management Introduction

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Brand & Product Management Introduction

Uploaded by

Copyright:

Available Formats

Coursera Certification

Course Name: Brand & Product Management

University name: IE Business School

Faculty: Professor Luis Rodriguez Baptista

How many packaged good products are launched this year?

How many packaged good products fail each year?

You might also like