[MUSIC] Welcome back to Marketing and Understanding Your Customers. This is week three of the course of Understanding Customers. In week 1 we covered the foundations of marketings and the marketing process. In week 2 we have covered some of the three key building blocks of the marketing mix, including product design, pricing, and channels of distribution. And finally, we are in week 3, which is all about branding. Let's briefly review, what is this week going to be all about? First of all, we're going to start by defining what brands are and what branding is. Next, we're going to think about what things can actually be branded? Next, we're going to try to define and think about how you might actually measure the value of the brand. Next, we're going to talk about the concept of brand equity, and, what are the objectives of branding? Once these steps are finally covered, we're finally going to move in as to what is the branding process and how you might go about building strong brands. And finally, this week we're going to talk about brand extensions. And perhaps maybe even brand repositioning. And we're going to conclude this week with a recap. So, let's go first to define or think about, what are brands? [MUSIC]