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Another character, Black Swan, was featured in an advertising campaign

related to a medical plan introduced in August 2013. As part of the campaign, Black

Swan, the archenemy of the Aflac Duck, was on a quest to convince consumers,

particularly the younger generation who tend to postpone insurance decisions, to

make unwise life choices. Fortunately, the Aflac Duck steps in to remind customers

to make sound, positive and healthy choices in life as he also reminds them of the

need for Aflac products, which provide financial protection and peace of mind. This

popular advertising campaign continued throughout 2014 and is still shown on TV

as a series of nine commercials.

By leveraging the popularity of the Aflac Duck through different characters over

the years, nine out of ten people recognize the Aflac brand. We will continue to look

for new ways to connect with consumers through innovative marketing campaigns

for our product line.

19

AFLAC JAPAN

Maneki Neko Duck

is a

combination “cat duck”

character that was intro-

duced in 2009 to promote

a revised version of EVER,

our medical product.

Hajimete

,

or

Pioneer

,

Duck

was introduced

in 2014 to promote our

new cancer product and

remind consumers that

Aflac is the pioneer of

cancer insurance in Japan.

Black Swan

, the archrival

of the Aflac Duck, was

introduced in 2013 as

part of our campaign

to promote our revised

EVER medical product.