The New Coke case: A historic failure that pushed Coca Cola to the edge.
The historic Coca Cola fiasco that led to a significant decline in stock prices and a market crisis.
00:00:00 The historic Coca Cola fiasco that pushed them to the abyss: The New Coke case. Coca Cola's dominant market position is challenged by Pepsi's strategy to target a younger demographic.
Coca-Cola was a dominant brand in the cola market in the 1940s-1960s.
Pepsi-Cola attempted to challenge Coca-Cola's market dominance multiple times.
Pepsi-Cola targeted a niche market of younger consumers.
00:02:41 How Coca Cola's attempt to compete with Pepsi led to a historic failure: the case of New Coke. Pepsi's successful marketing strategy and the decision of Coca Cola to change its formula.
🥤 Pepsi began gaining market share from Coca-Cola in the 70s and 80s, particularly among younger consumers.
🔀 Pepsi's successful advertising campaigns and tastings led Coca-Cola to react by changing the formula and taste of their product.
💡 Coca-Cola's decision to change their formula was a strategic move to compete with Pepsi and regain market leadership.
00:05:22 The historical failure of Coca Cola that pushed them to the edge: The New Coke case. Surveys showed that 75% liked the new taste, 15% were neutral, and 10% hated it. Despite negative feedback, Coca Cola released it, leading to protests and the formation of anti-New Coke associations.
🥤 Coca Cola conducted blind taste tests to develop a new Coke.
👥 People's opinions on the new Coke varied, with 75% liking it, 15% indifferent, and 10% hating it.
🗣️ The negative opinions of the 10% influenced others, leading to protests and the formation of anti-New Coke associations.
00:08:03 Coca-Cola's historic fiasco, the case of New Coke, caused a reputation and market crisis that could have sunk the brand.
🥤 The controversy surrounding the New Coke led to a debate on taste, racial and political issues.
🗣️ Public figures expressed strong opinions, and media outlets including 'Time' covered the story extensively.
☎️ Coca-Cola faced a significant backlash, receiving numerous complaints and hiring a psychiatrist to understand consumer sentiment.
00:10:43 The historic failure of Coca Cola with the New Coke caused a significant decline in stock prices. Even professional taste testers criticized the new flavor. The crisis was resolved by publicly acknowledging the mistake and reverting to the original formula.
⚡️ The introduction of New Coke by Coca Cola was a historic failure that led to a significant decrease in stock value.
📉 Despite initial positive feedback, consumer opinion drastically shifted and only 13% of people approved of the new flavor.
🔁 Coca Cola had to publicly admit their mistake, reintroduce the original flavor, and label it as 'Classic' to regain consumer trust.
00:13:22 The video discusses the phenomenon of influential minorities distorting reality and imposing ideas. It also explores the power of conformity and the danger of making decisions based on a small percentage of comments. The case of New Coke reveals the importance of loyal followers as brand ambassadors and the emotional attachment people have to certain products.
📰 A small but vocal minority can distort reality and impose their ideas on others, even when they are quantitatively in the minority.
🤝 Many people are influenced by those who are more active and vocal, leading to a phenomenon of conformity and herd mentality.
💡 It is important to consider that decisions made based on a small percentage of comments may not represent the silent majority or the true sentiments of the audience.
00:16:03 The historic fiasco of Coca Cola that pushed them to the abyss: the case of New Coke. This video explores the risks and challenges of changing a successful business model.
🥤 The video discusses the historic failure of Coca Cola with the New Coke.
💼 Companies that take risks and make changes to their business models face difficulty, but also have the potential for growth and success.
📊 It is important for businesses to analyze their direction and make informed decisions based on the relative numbers and market trends.
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