Your Brand Hit ¥10 Billion and Still Can’t Turn a Profit. The Problem Isn’t Marketing.
Most brands that hit scale did so because infrastructure matured, not because their brand was special. The real challenge isn’t getting bigger — it’s answering one question: who does your customer become when they choose you? Consumer investment veteran Chang Bin’s 20-year journey reveals why efficiency is now table stakes, and why identity — not product — is the only durable moat.