What Should Coca Cola Have Done Free Essays

What should have occurred? What should occur in future situations? It would be a logical inference to suggest that Coca-Cola’s decision to change its formula and market â€Å"New Coke† to the American population was nothing short of a complete failure. â€Å"On 23 April 1985 New Coke was introduced and a few days later the production of original Coke was stopped. This joint decision has since been referred to as ‘the biggest marketing blunder of all time’† (Bhasin, 2010). We will write a custom essay sample on What Should Coca Cola Have Done? or any similar topic only for you Order Now But to completely dismiss the fact that Coca-Cola was losing market share to Pepsi-Cola, as well as other products that they themselves were producing (Diet Coke), would not fairly give justice to the decisions behind Coca-Cola’s marketing blunder. Coca-Cola was in a dilemma. They were going through an identity crisis, and that crisis seemed to lead them to make their one major costly decision. That crisis was quite simple. Coca-Cola had forgotten who they were and grasping for market share, instead of focusing on branding lead them in an ominous direction. In order to avoid an identity crisis, Coca-Cola should have understood that â€Å"a brand is far more than just a logo. Instead, it’s comprised of a complete set of attributes and tools, or â€Å"identity elements,† that give the brand a unique identity† (Forward). The simple fact is that all the time, money, and skill poured into consumer research on the new Coca-Cola could not measure or reveal the deep and abiding emotional attachment to the original Coca-Cola, felt by so many people. The passion for original Coca-Cola was something that caught executives at Coca-Cola by surprise. It was a mystery, an American enigma, and one cannot measure it any more than one can measure love, pride, or patriotism (Bhasin, 2010). Of all of the consumer research and data analyzing Coca-Cola and its executives claim to have performed, it’s a mystery that they forgot one simple rule; ask your customers first! â€Å"Sam Craig, professor of marketing and international business at the Stern School of Business at New York University, pointed to what he and other industry observers have long considered a fatal mistake on Coca-Cola’s part. â€Å"They didn’t ask the critical question of Coke users: Do you want a new Coke? By failing to ask that critical question, they had to backpedal very quickly† (Ross, 2005). Coca-cola should have concentrated on the brands perception. â€Å"Marketing is a battle of perceptions, not products† (Bhasin, 2010). If Coca-Cola had concentrated on brand perception and less on trying to clone or compete with another company’s product, they would have never made the fatal mistake. What Coca-cola learned was to not be afraid to make a mistake. Yet, most importantly they learned to admit those mistakes and not be afraid to â€Å"make a u-turn†. Through the brand failure of New Coke loyalty to ‘the real thing’ intensified. Coca-Cola assimilated that â€Å"by going back on its decision to scrap original Coke, the company ended up creating an even stronger bond between the product and the consumer† (Bhasin, 2010). Consumers began realizing that coke was more than a drink. It was an experience – an enigma. The question then arises: Coca-Cola has recently decided, along with Pepsi-Cola, to change its recipe in order to avoid putting a cancer warning on their cans. Will Coca-Cola have learned anything from â€Å"the biggest marketing blunder of all time†? Bhasin, H. (2010, January 1). Coca Cola Brand Failure. Retrieved April 2012, 26, from Marketing91: http://www. marketing91. com/coca-cola-brand-failure/ Forward, J. (n. d. ). How to Build Your Brand and Avoid an Identity Crisis. Retrieved April 26, 2012, from Beneath The Brand: http://www. talentzoo. com/beneath-the-brand/blog_news. php? articleID=8478 Ross, M. E. (2005, April 22). It seemed like a good idea at the time . Retrieved April 26, 2012, from MSNBC: http://www. msnbc. msn. com/id/7209828/ns/us_news/t/it-seemed-good-idea-time/#. T5mkCuweSSA How to cite What Should Coca Cola Have Done?, Papers