Altering March Madness's Secret FormulaPosted by John Scally on March 11, 2010 at March 11, 2010 9:54 AM
Do you remember one of the most famous marketing blunders of all time happened back in 1985 when Coke altered the secret formula that had stood for 100 years and packaged it as 'New Coke?' The result: condemnation and unanimous customer revolt. Lessons learned:
- Understand your customers' passion for your product and look to nurture brand loyalty--not destroy it.
Those who do not learn from history are doomed to repeat it.
Have you heard that the NCAA is considering expanding the basketball tournament field from 65 to 96 teams?
The proposed idea has been met with outrage from the blogosphere, confusion from fans and pure bewilderment from sports writers.
Jim Calhoun, the well-respected coach of the University of Connecticut Huskies said the proposed 96-team field is a transparent money-grab that would do nothing to enhance the sport. Case in point, that short-term gain is not winning strategy for long-term success.
If the NCAA pushes through with its expansion plans, they may just bump Coke from its top spot in the Marketing Blunder Hall of Shame.
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Was New Coke a horribly bad idea or a brilliant one? I honestly can't think of anyone that switched to Pepsi, they got so much publicity that many people probably tried New Coke - which I think they continued to sell after they reintroduced Coke Classic - after all the uproar. I don't have numbers to back any of this up, but it seems like it didn't do much harm to Coke or their brand and it's something everyone remembers - 25 years later.
Was it one of those terrible ideas that was inadvertantly brilliant?
Didn't Dominoes try the same thing recently?
Posted by: sclcommish at March 11, 2010 12:19 PM
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