Why Would Coca-Cola Bring Back New Coke in a Stranger Things Tie-in?
As the third season of the popular Netflix series Stranger Things hits streaming, Coca-Cola is preparing a significant marketing campaign. The soft drink giant is reportedly planning to reintroduce the infamous New Coke in a tie-in with the show. Why would they do this, and what does it mean for the future of the brand and its competition?
Nostalgia and Curiosity
According to Stephen Fretz, the reintroduction of New Coke aligns with the season of Stranger Things taking place in the summer of 1985, the year New Coke was first launched. The timing provides both nostalgic and curious audiences with a taste of the past. This move taps into the powerful emotion of nostalgia, which is a highly effective marketing tool.
Market Trends and Taste Preferences
One of the critical reasons for re-launching New Coke is its increased sweetness. This mimics the taste of Pepsi, which is the second most popular soft drink after Coca-Cola. Sweeter beverages have gained significant popularity due to the proliferation of diet drinks, leading to a shift in consumer preferences towards even stronger sweetness.
The Underlying Market Strategy
Previously, the original New Coke fiasco was widely seen as a mistake because it replaced the classic formula. However, in today’s context, a re-launch would ensure that Coca-Cola Classic remains a strong contender in the market. This approach could result in a strategic zero-sum game or, if executed well, it could attract new customers and potentially steal sales from Pepsi.
The Original Fiasco and Consumer Preferences
The original launch of New Coke was considered a disaster due to consumer backlash and attachment to the traditional taste. However, blind taste tests often showed a positive reaction to the New Coke formula. This indicates that the new flavor was well-received by consumers when they didn’t know what they were drinking.
Capitalizing on Flavor Preferences
To capitalize on these favorable blind taste test results, Coca-Cola could leverage the new formula's proven popularity. This could help them capture a significant portion of the soft drink market during a period when traditional soft drinks are in decline. By aligning with Stranger Things, the company can create a unique and nostalgic brand experience for younger drinkers, who are particularly drawn to kitsch and retro products.
The Bottom Line
Bringing back New Coke as part of a Stranger Things tie-in is a strategic move that combines nostalgic appeal, market trends, and competitive advantage. It aims to attract both sentimental consumers and those who simply prefer a sweeter taste. While New Coke may not compete with Coca-Cola Classic, its re-introduction could still be a significant marketing success and a profitable move in the overall strategy against Pepsi.
Conclusion
Coca-Cola's decision to reintroduce New Coke in a Stranger Things tie-in is driven by several factors, including consumer nostalgia, taste preferences, and strategic market positioning. By leveraging the power of nostalgia and aligning with a popular cultural phenomenon, Coca-Cola can tap into a new customer base and strengthen its position in a changing soft drink market.