Post war America was the perfect place for Coca-Cola to expand. People were embracing a carefree lifestyle and Coca-Cola’s advertising mirrored this desire, with images of loved up couples at the drive in and happy families driving round in shiny cars. Coca-Cola continued to be served at soda fountains, and was added to the menu in ice cream parlous.By now, the company still had just one product, albeit an extraordinary successful one, and it began experimenting with new flavors, it introduced Fanta in the 1950s (which was originally concocted in wartime Germany), followed by sprite in 1961, TAB in 1963 and Fresca in 1966.the company acquired the minute maid company in 1960, branching out into juices .new lines of Coca-Cola were also rolled out, including bigger bottles and metal cans in 1960.
In 1971,Coca-Cola created a particularly special television advertisement ,that saw young people from all over the world gather on an hilltop in Italy to sing ;'I d like to buy the world a coke’.Coca-Cola had made its mark on the international market, and for a time was seen as an icon of unity ,in an era that had not yet grasped the consequences of globalization ,significantly,in 1978,the people's republic of China declared Coca-Cola company as the only company allowed to sell packaged cold drinks in China.
In 1981,Roberto C Goizueta became chairman of the board of directors and CEO of the Coca-Cola company. And decided to take the company forward with a strategy he called ‘intelligent risk taking’. This began with the introduction of diet coke on Independence Day 1982, the very first extension of the Coca-Cola trademark. Within two years, Diet coke had become the top low-calorie drink in the world. Coke might have been slow on the uptake, but quickly followed Diet coke’s inception with a range of alternatives, including caffeine-free coke and cherry coke.Goizueta’s riskiest initiative began in 1985, when he released a new –tasting Coca-Cola, the first change in formula for 99 years. Why fix something that isn’t broken??
Well, it was breaking;Pepsi, had directly challenged coke’s success in the market place by conducting blind taste testing on the streets of America with many people opting for the sweeter Pepsi. This saw Pepsi overtake in supermarket sales.
‘New coke’ passed taste testers approval in extensive testing before launch, being preferred to Pepsi by most but didn’t succeed in the market place. People demanded their old coke back in an unprecedented expression of brand loyalty. Coca-Cola received over 40,000 pleading letters and their phone lines were continually blocked with customers desperate to have their old drink back again. The company listened, and after 79 days of new coke, they started supplying the original Coca-Cola again, labelled Coca-Cola Classic.
Its sales leapt up, reclaiming top spot, which it has never lost since. New coke was slowly discontinued, and the original recipe is still used today.
During the 1990s coke made its presence known in the sporting world, sponsoring the Olympic games ,FiFa World cup, Rugby World cup, and the National basketball association. The company was selling one billion servings of its product every day.
What a remarkable progress!!!!
In 1999, the Coca-Cola company purchased the soft drinks brands of Cadbury Schweppes plc. in various countries, including great Britain. This expanded the existing product range of beverages such as Coca-Cola, Diet coke, Cherry Coca-Cola, Fanta, Sprite, Lilt, and Five Alive to include the Schweppes range of drinks such as Dr pepper, Oasis, Kia-ora and Malvern water
Today, a high percentage of coca cola is sold outside the USA.And the company is known for exceptional innovations up till this time.
This brings us to the end of this success story.
I believe you have learnt some Strategies or gained spectacular insights on how to move your life and business to the next level.
I wish you the best and a fruitful day ahead.
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