![]() ![]() It was removed from its headquarters in Atlanta and locked in a bank vault for good measure. And so, the company decided to rid itself of all evidence of the formula’s existence. The Coca-Cola Company, which has always been honest and up-front with its consumers, admitted that it was not merely embarrassed by the existence of the 99-year old recipe but scandalized by it. Goizueta might not have noticed, but the rest of America did. He declared the new recipe “smoother, rounder, yet bolder-a more harmonious flavour.” New Coke was sweeter and tasted more like Pepsi. On April 23, 1985, Roberto Goizueta stepped before the press to introduce New Coke to the world. See also What percentage of companies miss critical growth opportunities? 59% of organisations admit to missing crucial growth opportunities Though many questioned the decision at the time, it now seems like genius. Diet Coke was positioned directly against Pepsi to win back market share and become the number one soda. ![]() In a risky move, Coca-Cola created a sweeter version of its classic diet soda. ![]() And then it used to contain sorghum syrup. It used to contain cane sugar, for example. They were forced to admit Pepsi is better in a blind taste test! The results from the Pepsi Challenge were so shocking that Coca-Cola issued a new drink to regain its reputation.Īs the world’s best-known soft drink, Coca-Cola has a formula that’s been tweaked several times. Coke execs were horrified to learn from their own taste tests that people preferred the flavor of Pepsi. After the so-called “Pepsi Challenge,” consumers were guzzling the red cans by the millions. And all hell broke loose.Ī recent report revealed that, although the market share of Coca-Cola remained the same, its rival Pepsi-Cola was now within such a close distance that Coca-Cola is being called “Old Coke.”īlind taste tests caught Coca-Cola red-handed. So, the original taste of Coca-Cola was removed from the market. Their executives didn’t just think their iconic brand was broken they considered it fully flat. Coca-Cola had the most powerful brand on the planet at the time. The “New Coke” debacle in 1985 has been heralded as one of the greatest business blunders of all time. ![]()
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