It is so important to build an identity of yours in life. Likewise, if you are planning on a big venture or a business model, it is extremely important to build an identity that sells. It is essentially called a Brand. In this lecture, Gibson Biddle walks us through the evolution of big brands like Apple and Netflix, and gives some important tips to unlocking big brand success.
Why Care About Brand?
As a product leader, your job is to:
- Delight customers
- Work on Margin-enhancing ways to do that
- Bring to the table hard-to-copy processes and products
For example, Netflix as a company has its deep-rooted branch which its customers inherently trust. Building a similar brand on that scale is difficult, making Netflix’s brand hard-to-copy. It also has some features which make its efforts difficult to replicate.
- The economy of scale is extremely high
- Network effects—it is built to readily connect to any device in the world.
- Unique technology