In Unity, materials define how objects appear. First, you create a new Material and assign a shader to it. Then, you set properties such as color and glossiness to change its look. After that, you get the Renderer component of the object and assign the new material to it. This process ensures the object renders with the desired appearance. The execution table shows each step, including creating the material, setting properties, and applying it. Variables like 'mat' and 'rend' track the material and renderer states. Key points include why to create a new material instance, the importance of correct property names, and assigning materials to the renderer. The visual quiz tests understanding of these steps and their effects.