Why Coca-Cola is Resurrecting New Coke, its Biggest Flop
Business wards daily is brought to you by Dell. Don't miss out on Dell small business month celebration. Get up to forty five percent off select computers with Intel core processors, call eight seven seven by Dell to speak with a small business technology advisor today. That's eight seven seven b u y de l l for tech advice and one on one partnership. From one. I'm David Brown and this business wars daily happy Monday. Everyone this morning. We're going back into the annals of business news for an update on one of the biggest reteaching blunders in American business history. Remember new coke, here's a nineteen eighty five ad. Introducing new coq comparing it to Pepsi and claiming Americans liked coke better. Let's look at it this way. We gave them choice and more people. Except, of course by taking away the old coke. They hadn't given America a choice and it was not a hit outraged. Coke fans boycotted the company and flooded, it with letters, demanding the return of the old coke Pepsi, had a heyday using coax move to convert former coke fans into Pepsi drinkers after only seventy nine days, Coca-Cola brought back, it's old formulation slapping, the word classic on the label new coq remained on store shelves until two thousand two in the company. Finally, and quietly made it go away. Well, most companies prefer to bury their mistakes, which is exactly what Coca-Cola did until now in partnership with net flicks is retro. Supernatural thriller stranger things. The company is temporarily resurrecting new coq here wasn't easy Coca-Cola employees. I had to get into a safe where the formula has been stored for more than three decades. The soda will show up several times. On the third season of stranger things which is set in nineteen eighty five the new season debut on July fourth, but Coca-Cola began selling new coq last Thursday with limited quantities available. The company will sell five hundred thousand cans someone its website, some from vending machines. Now, you might be assuming that this is another episode in cokes, attornal rivalry with Pepsi. Well, sure. But it's about much more than that to the resurrection of new coke is actually a byproduct of Netflix is competition with Disney, which is launching its own cheaper, streaming service in November Disney already post serious competition. Netflix, it up, the ante recently when it announced that it's taking full control of TV, streamer, Hulu, as well, anticipating the competition Netflix is doing everything it can to add even more subscribers to its paying audience of one hundred forty nine million, and it's using product placement deals to make that happen. Stranger things will feature some seventy five different products this season. From coke to clothing brand, H, and M to Baskin Robbins, according to the New York Times, no money changed hands for the placements. But the partnerships Lynn marketing clout to Netflix. That is to say it's in the brand's best interest to heavily promote stranger things. You'll see a lot of ads for stranger things over the next couple of months, most of them, generated by product placement partners, as we see every day, the more you ramp up competition, the more innovative companies, get just like Netflix creatively convincing Coca Cola that bringing back its biggest mistake, just might be a winning formula. From this is business wars daily. Have you heard our business series on the rivalries between Pepsi and coke and at Lixin blockbuster? Don't miss him. Checkout business wars on your favorite podcast. Thanks so much for being with us. I'm David Brown. We'll be back with you tomorrow. Business worse. Daily is brought to you by Dell. The clock is ticking on Dell small business month celebration. Enjoy up to forty five percent off select computers with Intel core processors, plus a free external hard drive with select computer purchases before it's too late. Call eight seven seven buy Dell to speak with a small business technology advisor today. That's eight seven seven. B. Y. D E L L for tech advice and one on one partnership, eight seven seven by Dow.