Coca-cola has been the industry leader for 136 years.
It's so big that you would find a Coke in Africa where clean water wasn't available.
But the massive success is deeply rooted in psychological tactics.
Charlie Munger, in his book, revealed 6 of them.
Here's a breakdown:
It's so big that you would find a Coke in Africa where clean water wasn't available.
But the massive success is deeply rooted in psychological tactics.
Charlie Munger, in his book, revealed 6 of them.
Here's a breakdown:
1. Formula secret
Charlie Said, "We will work obsessively to keep our formula secret."
And they hid it for a century.
Yet they knew that food engineers could produce the same taste one day.
But by then, they were so ahead that copying their flavor would not be a competition.
Charlie Said, "We will work obsessively to keep our formula secret."
And they hid it for a century.
Yet they knew that food engineers could produce the same taste one day.
But by then, they were so ahead that copying their flavor would not be a competition.
2. Product design
Nothing in Coke is by accident.
ā¢ Cold or hot - In extreme heat, cold liquid is consumed, but vice versa isn't true.
ā¢ Flavour - Sugar & caffeine are consumed worldwide. Coke has both.
ā¢ Color - Not bland sugar water, but premium champagne-like color.
Nothing in Coke is by accident.
ā¢ Cold or hot - In extreme heat, cold liquid is consumed, but vice versa isn't true.
ā¢ Flavour - Sugar & caffeine are consumed worldwide. Coke has both.
ā¢ Color - Not bland sugar water, but premium champagne-like color.
3. Pavlovian conditioning
It refers to linking a happy experience with a behaviour to recreate the experience.
Coca-Cola used it by:
ā¢ Recognizable logo
ā¢ Happy ad campaigns
ā¢ Pretty women having a Coke
to build emotional connections between Coke and positive experiences.
It refers to linking a happy experience with a behaviour to recreate the experience.
Coca-Cola used it by:
ā¢ Recognizable logo
ā¢ Happy ad campaigns
ā¢ Pretty women having a Coke
to build emotional connections between Coke and positive experiences.
4. Marketing campaigns
Their ads are always made to achieve specific objectives.
Some of it are:
ā¢ New product trials
ā¢ Spreading product awareness
ā¢ Positioning Coke as a part of lifestyle
Here's a list of 50 taglines over the year:
Their ads are always made to achieve specific objectives.
Some of it are:
ā¢ New product trials
ā¢ Spreading product awareness
ā¢ Positioning Coke as a part of lifestyle
Here's a list of 50 taglines over the year:
5. Habits and Coke
People tend to stick with what is familiar, even if it may not be the most rational choice.
Coca-Cola leveraged this by creating a brand so familiar and well-known that it has become a habit for consumers.
Every second, 13000 Coke is pop opened in the world.
People tend to stick with what is familiar, even if it may not be the most rational choice.
Coca-Cola leveraged this by creating a brand so familiar and well-known that it has become a habit for consumers.
Every second, 13000 Coke is pop opened in the world.
6. Removing fluff
They knew that one day there would be a better-tasting beverage on the streets.
But they avoided shiny objective syndrome.
And focused on improving their own product
So they never went after to become the next best drink in the market.
They knew that one day there would be a better-tasting beverage on the streets.
But they avoided shiny objective syndrome.
And focused on improving their own product
So they never went after to become the next best drink in the market.
Are you a digital writer/ entrepreneur looking to grow your audience, network and sales?
Then join 1010+ entrepreneurs who learn my growth secrets every Saturday.
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writeyourbrand.beehiiv.com
Then join 1010+ entrepreneurs who learn my growth secrets every Saturday.
Here's the link:
writeyourbrand.beehiiv.com
To everyone who's saying I've misused information about Africa ā I didn't.
It's a famous true story.
The purpose is not to make a diss but to educate marketing tactics.
Don't take it out of context.
Here's the post where this story was discussed:
thedailybeast.com
It's a famous true story.
The purpose is not to make a diss but to educate marketing tactics.
Don't take it out of context.
Here's the post where this story was discussed:
thedailybeast.com
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