Coca-Cola

Swinging for the Fences

Coca-Cola

Coca-Cola

Coca-Cola

Coca-Cola

Coca-Cola

Coca-Cola

Coca-Cola

To hear some tell it, April 23, 1985, was a day that will live in marketing infamy.On that day, TheCompany took arguably the biggest risk in consumer goods history, announcing that it was changing the formula for the world's most popular soft drink, and spawning consumer angst the likes of which no business has ever seen.TheCompany introduced reformulated, often referred to as "new Coke," marking the first formula change in 99 years. The company didn't set out to create the firestorm of consumer protest that ensued; instead, TheCompany intended to re-energize itsbrand and the cola category in its largest market, the United States.That firestorm ended with the return of the original formula, now calledclassic, a few months later. The return of original formulaon July 11, 1985, put the cap on 79 days that revolutionized the soft-drink industry, transformed TheCompany and stands today as testimony to the power of taking intelligent risks, even when they don't quite work as intended."We set out to change the dynamics of sugar colas in the United States, and we did exactly that -- albeit not in the way we had planned," then chairman and chief executive officer Roberto Goizueta said in 1995 at a special employee event honoring the 10-year anniversary of "new Coke.""But the most significant result of 'new Coke' by far," Mr. Goizueta said, "was that it sent an incredibly powerful signal ... a signal that we really were ready to do whatever was necessary to build value for the owners of our business."