Coca-Cola’s Greatest Mistake | Strategic Retreat | 4

Business Movers

Wondery

History, Business, Entrepreneurship

4.8 • 1.5K Ratings

🗓️ 4 March 2021

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

n the aftermath of the New Coke rollout, Coca-Cola chairman Roberto Goizueta deals with an onslaught of bad press, angry phone calls and nasty letters from Coke fans who want their old soft drink back. In this moment of crisis, Roberto sees opportunity in adversity and uses data as a weapon to fight back.

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Transcript

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0:00.0	It's Friday, April 26, 1985, three days after the new Coke launch at PepsiCo headquarters
0:21.5	in Purchase, New York.
0:23.6	The office is mostly empty because Pepsi USA President Roger Enrico declared this day
0:28.3	a company-wide holiday in celebration of Pepsi's victory over Coca-Cola.
0:33.6	But Roger is still hard at work, he knows the war has really just begun.
0:39.1	Over the next few weeks, Coca-Cola will roll out new Coke to consumers and try to make
0:43.9	this new soft drink number one in the US market.
0:47.4	Roger wants to launch a series of commercials designed to attack New Coke and hopefully
0:51.9	send Pepsi to the top.
0:54.2	Roger huddles in his office with expert marketer Alan Potish, the creator of the Pepsi generation
0:59.6	campaign.
1:00.6	Alan's already recorded one commercial set to air on Monday night.
1:04.3	But both men agree they need to follow up quickly with a second spot.
1:07.8	Yeah, we need to hit him again Roger, we need to hit him hard and fast.
1:11.5	I agree completely but with what?
1:13.6	Our approach is right, so is our message.
1:15.6	They pulled old Coke because of us.
1:18.1	Well exactly, we just need to come at it with a fresh angle.
1:21.4	Any ideas?
1:23.6	I'll send a large man barrels through the door.
1:26.4	It's Ron Tidmore, president of Pepsi's syrup division.
1:29.6	I've got it boys.
	...

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