Recently during the Euro2020 press conference, Christiano Ronaldo removes two bottles of Coca-Cola and picked up a water bottle, and said “Agua” which means water. That incident impacted the brand with a huge loss of $4 billion.
Coca-Cola has sponsored most of the events, organizations, and projects. It has created a huge brand image and brand value all over the world. To increase its marketing demand, it mainly focuses on consumer needs, taste, etc. It has also launched many global campaigns to create a global network and scale.
Coca-Cola is not only the largest beverage brand but also one of the most influential brands in the world. The brand has many products based on the tastes of different persons.
Companies use campaigns, advertisements, social media as the main source of marketing. To increase brand awareness most companies, collaborate with celebrities and influence the public.
Due, to this pandemic most of the beverage brands have effected a lot. Coca-Cola also affected and huge losses in revenue. Recently in April 2021, the volume of the beverages is getting normal just like in March 2019. People are consuming most of the soft drinks during this pandemic for the last three months. Slowly the share value has increased by 9 percent.
Suddenly the incident during the press conference by the famous football player Christina Ronaldo impacted the company and automatically market value moved down enormously by $4 billion. people across the globe recreated the situation with various items. That action has moved to the internet and many of them starting creating memes and jokes. Taking this as an advantage multiple brands took the opportunity to make puns and started finding their way to talk about their companies.
Based on this Coca-Cola reacted that “People have different tastes and needs”. Everyone will have their preferences and choices.
After Ronaldo’s gesture, many of the players followed him and did the same in some press conferences. But, some players are against Ronaldo’s stance. Some Players in other press conferences did against it, bringing the cola bottles near to them and some had taken a sip of cola, supported the brand, and tell them to keep in touch.
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