What's "brand"? Japanese Companies Stand at a Turning Point of Branding Strategy

According to an editorial by Roland Berger (Japan), Japanese companies stand at a turning point of branding strategy.

In the editorial, the author defines "brand" by three components:

(1)awareness,
(2)brand image, and
(3)favorability (brand loyalty).

※For convenience, the editorial focuses on the value of brand itself (the author excluded that how to protect a brand image).

From the business strategic point of view, attempts and purposes should be matched.

ex)
Even if an emerging brand that wants to "approach more customers" invests in improving likability, the goal will not be achieved.

---Case in Japan---
In Japan, the follower group is a majority until around 2015.

People in the follower group do not have definite sense of values.
They buy and use something, which are trend and famous.

In such a market circumstance, the correct strategy is "raising the brand".

However, the orientation of consumers is varying from "follower" to various directions.

Originally, the brand is appearance the company wants to be.
Raising the brand is just a way to achieve it.

So as a conclusion, Japanese companies should clarify the fundamentals of what they want to be and strive to realize it.

Citation: Roland Berger (Japan) Insights, 2022/05/23 (https://rolandberger.tokyo/insights/3047/).