The intention
Coca-Cola Company wanted the brand in the 80s Coca Cola reinvigorate by changing the soda formula.
The approach
After a thorough research phase and ditto taste tests, the company came into 1985 with a sweeter variant of the well-known Coca Cola.
The result
The public reaction to the changed formula was scathing and 'new Coke' as the new variant was unofficially called, quickly became a classic among marketing flops.
The lessons
Coca Cola responded quickly by reintroducing Coke's original formula. Ultimately, this quick response even led to an increase in sales of Coca Cola.
CEO Neville Isdell reacted strongly to shareholders by highlighting the mistakes made. At the annual shareholders' meeting, he said: “You will see some flaws in our strategy. Since we take more risks, is that something we have to accept as part of the business process”.
Further:
Everyone is afraid to fail. But breakthroughs are, also in business, often dependent on failures. The best companies embrace their failures and learn from them. Failures fuel success.
This case is based on an article in Business Week, July 2006.
Author: Bas Ruyssenaars
OTHER BRILLIANT FAILURES
Nomination Brilliant Failures Award Healthcare 2022: MindAffect’s Turnaround
Theo Breuers developed a system based on facial recognition that warns when a resident enters or leaves certain areas. The project failed due to privacy legislation.
Dippy de dinosaur
Two more world wars were to come in the 20th century. Even then there were people who were committed to peace. There was Philanthropist Andrew Carnegie. There was Philanthropist Andrew Carnegie [...]
The Olympic 10.000 meters from Sven Kramer in Vancouver (2010)
The intention to achieve Gold at the Olympics 10.000 meter in Vancouver. The approach Kemkers and Kramer worked together on a thorough preparation based on: 6 years of intensive collaboration and resulted in countless [...]
