What just happened here? “Cristiano Ronaldo’s removal of Coca Cola bottles at a Euro 2020 press conference on Monday was followed by $4 billion being knocked off the company’s market value. Ronaldo was speaking at a press conference ahead of Portugal’s game against Hungary on Monday when the soft drinks were placed in front of his seat. The 36-year-old removed them from view and said that people should ‘drink water’ instead. The gesture coincided with a significant impact on Coca Cola’s market value,” notes the theathletic.
Coca Cola is one of the world’s leading advertisers but here it used its money to pay for an own goal (as in football). Yes, when a football god scored against you, in the minds of a generation, you could be imperiled.
Coke is not a bad product. People need to consume EVERY legal product moderately and in order. Yet, Coca Cola needs to understand that with virality in this age, change will not come from politicians and governments, but through conscious efforts by companies to do the right things.
So when a brand is worried that its money could be used to destroy its value, you will see CHANGE. Coke has served the world but it is evident that it is losing the next generation; it should worry about that.
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