In October 1999, Nissan Motor Co. chief Carlos Ghosn said he planned to boost Nissan's brand power as part of a turnaround plan for the then ailing automaker. Many Nissan workers were initially confused.
"When I first heard those words, I thought we were just going to have a new tag line or a slogan," said Rintaro Kumasaka, manager of the firm's internal communications group.
Kumasaka soon realized, however, that boosting the company's brand power -- the loyalty consumers have to a specific brand -- would be essential in prioritizing profitability over market share; consumers would not mind paying a premium price for a top brand.