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If you could uninvent a product, what would it be?
1985 was not a good year for Coca-Cola. It marked one of the greatest marketing failures in history: the replacement of the original Coke formula with a new one, usually called «New Coke.» The reaction of American consumers was so strong that the mighty company was almost brought to its knees.
The change was no small decision by Coca-Cola. For 99 years, the Coke formula had stayed the same. Yet, beginning in the 1970s, the company started losing market share to its biggest rival, Pepsi. By 1984, sales of Coke and Pepsi were almost even. In response to these disturbing trends, Coca-Cola developed a new, sweeter formula. It held almost 200,000 taste tests, with mostly positive results.
On April 23, 1985, the new formula hit the market. Many people liked the taste, but a growing number of consumers were upset that «their» Coca-Cola had been changed. Thousands of people wrote angry letters and telephoned the company, demanding that the original formula be brought back (see table). In songs, TV shows, newspapers, and magazines, people expressed their unhappiness with New Coke. In the meantime, Pepsi took over as the top soft drink in the country.
What happened? In blind taste tests, people preferred the new formula. What Coca-Cola did not consider was how strongly people were attached to the original taste and brand. Millions of consumers grew up drinking Coke, and they had fond memories of sharing the drink with friends and family members. In short, the original Coke was an important part of their lives, and people had an emotional attachment to the drink.
On July 10, less than three months after the release of New Coke, Coca-Cola admitted defeat and started selling the original formula (now called «Coca-Cola Classic») once again. Consumers were thrilled that such a large company had bowed to their wishes. They were also excited to have the old Coke back.
Coca-Cola Classic quickly rose to the top spot in the «cola wars» of the 1980s. And so, even though New Coke was a terrible disaster, it actually strengthened people’s loyalty to the Coca-Cola brand. This was one case where admitting a mistake was clearly the best thing to do.
Group Discussion Questions
What was the main idea?
If you could suggest a strategy, what would you recommend for Coke?
What do you think about taste tests and other product competitions?
Do you think it was a good idea for Coke to change their recipe after so long?
How can you explain an emotional attachment to a product?
Individual Presentation Questions
What was the most interesting part of the article?
What part of the article do you think is common sense?
Name three words that you did not understand.
What is a fact sheet?
Can you describe the key figures related to your company, industry, or any professional topic?
The key to making a good introduction is to having all the pieces ready, and then using them in the correct order, but always being flexible to adapt to each situation that you are in.
«Good evening everyone.»
Tip* Never start with «good night» – Good night = good bye
«My name is Eric …»
«Today, we will look at a fact sheet about New Coke, broken down into five key areas.»
«This will take me a few minutes, so please hold any questions until the end of the presentation.»
«So let’s get the ball rolling!»
«As the title states, we will dive into some numbers related to New Coke.»
«For those of you who are not familiar with what New Coke is, let me give you a quick orientation …»
«… This was a product that Coca-Cola Company used in order to regain market share after about 15 years of slowly losing market share to another household name, a true powerhouse in the industry, and their number one competitor PepsiCo. …»
«On the right-hand side, you can see some general numbers about New Coke .»
«… and let’s get the ball rolling …»
(this is your opportunity to be descriptive, if you feel comfortable with the basics of presenting information)
to mark (verb) – to signal a point when something happens.
ex. Next Wednesday marks the start of our fifth year in business.
a consumer (noun) – someone who buys something.
a rival (noun) – an opponent, competitor.
even (adj.) – at the same level or amount, equal.
disturbing (adj.) – causing a problem or concern.
a trend (noun) – a general direction.
thrilled (adj.) – very excited.
loyalty (noun) – a feeling of duty or faithfulness.
fond (adj.) – pleasant.
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Opening Lines
“First, let’s take a look at …”
“To get started, let’s take a look at …”
“Let’s get the ball rolling with the first stat …”
Advancing
«Now, I would like to move on to …”
“Then, as you can see, the …”
“In order to keep the ball rolling, I want to …”
Closing Lines
“And finally, if we look at …”
“To wrap up, we can see …”
“Moving onto the final numbers about …”
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