The New Coke case: A historic failure that pushed Coca Cola to the edge.

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.

🥤 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.

🥤 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.

🥤 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.

⚡️ 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.

📰 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.

🥤 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.