Bud Light can’t seem to shake last year’s controversy. The iconic beer brand has just suffered another blow after consumers ignited a new boycott of its products, this one stemming from a social media campaign that was attacked for being “woke.” More:
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Storytelling that Solves Business Problems | Brand Story Consultant & Official LinkedIn™ Learning Instructor | Book me to speak at your next event or workshop
Don't be like Coke. It was one of the biggest ‘fails’ in marketing and product history. In 1985, Coke changed their formula (after some testing and research) because they were losing market share. They wanted to be more like their largest competitor. But what they didn't realise was they'd unintentionally turned their backs on the people that mattered. Their loyal customers. The backlash, (in today's terms) went viral. Protests, boycotts and people selling stock of the old coke for premium prices. Luckily, the Coca-Cola company realised the error of their ways and reverted back to the old formula. And obviously lived to tell their story. 3 lessons. 1. You don't own your brand. Your customers do. 2. ‘Me too’ products, services and companies serve fickle audiences. Usually the price sensitive ones. Not long term fans. 3. Designing a new story isn't just about throwing away the old one. It can also be about rebuilding on top of an existing one. Particularly the chapters and characters that have always served you well. — I'll dig into how to tell stories YOU don't own in this week's issue of Brand Builders. Head to my profile and sign up there. Next issue out on Friday.
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In July 2024, Bud Light's sales plunged behind Modelo and Michelob Ultra due to a massive boycott driven by marketing and corporate decision controversies. Initiated by a dissatisfied segment of their customer base, the boycott went viral on social media and significantly impacted Bud Light's market position. This resulted in declining sales and opened doors for their competitors to gain a larger market share. Key reasons why Modelo and Michelob Ultra are succeeding include strong customer engagement through targeted campaigns, a higher perceived quality, and effective branding strategies—Modelo as an authentic, premium beer and Michelob Ultra as a health-conscious choice. They’ve swiftly adapted to market trends and consumer sentiments, giving them a competitive edge. On the contrary, Bud Light faces the daunting task of rebranding, rebuilding trust, and improving product quality to recapture its lost customer base. For business owners, a critical takeaway is the importance of aligning corporate practices with consumer expectations and leveraging effective marketing strategies. If you’re looking to make your business more resilient, optimizing your tax strategy is crucial. **Next steps: Reach out to Together CFO or set up a call** **https://lnkd.in/gcpgpRPE.
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Yesterday we explored the top triggers for consumer boycotts across markets, and how the overall risk of brand boycotts compares internationally. But what actions can brands already snubbed by consumers take to recover from a boycott? In this piece, we dive into YouGov’s latest international findings on what’s most likely to encourage consumers across international markets to stop boycotting a brand. #consumerinsights #boycot #brand #marketing
Defusing consumer boycotts: How can brands regain customers and bounce back?
business.yougov.com
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Hospitality PR Specialist l Social Media Specialist l Content Writer l Blog Specialist l Marketing Strategist | PR Planner | Freelance Writer
Things to learn from the latest The Coca-Cola Company advertisement: 1. If a company isn't ethical, its dirty laundry will come out and cause mass boycott. 2. Sometimes, silence is golden and rebuttal is suicidal. 3. A weak brand manager with an incompetent team will not do the basic research required to navigate a PR crisis. 4. If a company is funding groups which are involved in ethnic cleansing and massacres of innocent people, no amount of marketing can whitewash its image. 5. Turning off comments won't change the debacle of the said incompetent brand manager. My advice as a brand manager: Stop unethical and illegal practices. That's all your consumers want now. It's that simple. #brandfailure #brandmanagement #marketing #cocacola
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Senior Vice President and Regional Retail Business Head-West at Axis Mutual Fund West. Behavioural Investment Enthusiast
𝗧𝗵𝗲 𝗦𝘁𝗼𝗿𝘆 𝗼𝗳 𝗡𝗲𝘄 𝗖𝗼𝗰𝗮-𝗖𝗼𝗹𝗮 In 1985, The Coca-Cola Company decided to change the near 100-year-old taste and formula for Coke, leading to a marketing disaster. This decision wasn't made on a whim. Coca-Cola had been steadily losing market share to competing cola products, especially Pepsi, which the younger generation preferred. After WWII, Coca-Cola's share was 60%, but by the 1980s it had sunk closer to 20%. Blind taste tests showed that consumers preferred the sweeter taste of Pepsi over Coke. In an attempt to reverse this trend, Coca-Cola decided to imitate Pepsi's taste. They retired the original Coca-Cola formula and introduced a new flavor called "New Coke." The reaction was overwhelmingly negative. Consumers were outraged, and the company received over 40,000 letters and phone calls from angry customers. There were boycotts and protests, and some people even poured the drink in the streets. A psychiatrist hired to evaluate the calls reported that some callers sounded like they were discussing the passing of a loved one. Gay Mullins, a disgruntled customer, filed a class action lawsuit and spent $100,000 of his own money pursuing it. Even Fidel Castro, a regular Coke drinker, criticized the change as a sign of American capitalist decadence. When the old stock of the original Coke ran out in the US, consumers began importing it from overseas markets where the new one had not yet been introduced. There was also a real prospect of bottlers boycotting the company. Finally, 79 days after discontinuing the original formula, Coca-Cola reintroduced it, reading the tea leaves of consumer outrage. 𝗟𝗲𝘀𝘀𝗼𝗻𝘀 𝗳𝗼𝗿 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 The story of New Coke teaches an important lesson for investors, especially beginners: Don’t try to copy your neighbor’s portfolio. Here’s why: 1. 𝗨𝗻𝗶𝗾𝘂𝗲 𝗧𝗮𝘀𝘁𝗲𝘀 𝗮𝗻𝗱 𝗣𝗿𝗲𝗳𝗲𝗿𝗲𝗻𝗰𝗲𝘀: Just like people's tastes in cola, everyone's financial situation, risk tolerance, and investment goals are different. What works for someone else might not work for you. 2. 𝗔𝘃𝗼𝗶𝗱𝗶𝗻𝗴 𝗙𝗢𝗠𝗢: Fear of Missing Out (FOMO) can lead to poor investment decisions. Instead of jumping on the bandwagon, take the time to understand what you're investing in. 3. 𝗦𝘁𝗮𝘆 𝗧𝗿𝘂𝗲 𝘁𝗼 𝗬𝗼𝘂𝗿 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆: Develop an investment strategy that fits your personal goals and stick to it. Don’t be swayed by the latest trends or what others are doing. Remember, investing is a personal journey. Stay true to yourself, stick to your asset allocation, and make decisions that are right for you. Take professional help
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In a recent article, we explored the triggers of boycotts across multiple markets. Continuing this study, we conducted a survey to understand how brands can recover from boycotts and regain customers' trust. Our findings reveal that 8 out of 10 Canadians indicated they would cease boycotting a brand if specific actions were taken. Nearly 6 out of 10 respondents expressed that they would stop boycotting if the company provided a clear plan to address the underlying issue. Furthermore, they emphasized the importance of publicizing the results of these actions to enhance transparency and credibility. It's evident that consumers prioritize tangible actions over qualitative reassurances from companies. They seek transparency and credibility in companies' responses to issues. In today's digital landscape, where consumers are highly connected, brands must maintain a strong presence on communication channels and deliver content that meets consumer expectations. This content should effectively communicate the steps taken by the company and provide quantifiable outcomes. #BoycottRecovery #ConsumerTrust #ConsumerExpectations #BrandCredibility
Defusing consumer boycotts: How can brands regain customers and bounce back?
business.yougov.com
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In this fractured society of anger, rage and intolerance from all angles and aspects, companies should take down their CSR (Corporate Social Responsibility) website pages that feature DEI, climate change, community assistance and everything else. Just run your business and let the products and their acceptance determine your volume and profitability...~r "Bud Light’s star is still falling more than a year after a boycott turned the U.S. beer industry upside down. The former favorite has tumbled to the No. 3 spot behind Modelo Especial and Michelob Ultra, recent sales data show. Bud Light represented 6.5% of beer dollar sales in U.S. stores in the four weeks ended July 6, compared with 7.3% for Michelob Ultra and 9.7% for Modelo, according to an analysis of NielsenIQ data by the consulting firm Bump Williams. Modelo Especial, a Mexican import sold by Constellation Brands STZ 0.03%increase; green up pointing triangle, has outsold Bud Light by dollar sales since last year. In the four weeks that included this year’s July Fourth weekend, Modelo overtook Bud Light by sales volume, too, according to Bump Williams. The stretch between Memorial Day and July Fourth is crucial for the beer industry and can make or break a brewer’s year. The new rankings show the fallout from a Bud Light boycott that began in April 2023, when a transgender influencer posted an Instagram video about a personalized beer can that the brand had sent her as a gift. The following month Bud Light lost its spot as the top-selling beer in America and continued to be a target of the political right for much of the year."
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As part of our Consumer Boycott series, we discussed in a recent article the most important triggers in global markets. Next, we delve into how brands can change the situation and win back customers ? Are you curious to know what consumers think about it ? Check below #YouGov #Boycott #WinBackCustomers
Defusing consumer boycotts: How can brands regain customers and bounce back?
business.yougov.com
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In our modern, interconnected society, brand boycotts have become a potent mechanism for consumers to express discontent and demand accountability from companies. With an increasing emphasis on transparency, accountability, and ethical conduct, navigating the landscape of brand boycotts presents a significant challenge for businesses striving to maintain their relevance and sustainability. According to a recent YouGov poll spanning 17 international markets, Canada ranks fourth in consumer propensity to boycott companies for various reasons. The top triggers identified include products posing health risks, engagement in unethical practices, and sudden price hikes. Understanding and monitoring brand reputation, attention, and buzz are crucial for business executives and risk managers to make informed, data-driven decisions that can effectively manage and mitigate crises and their impact on both brand perception and financial outlook. #BoycottCulture #BrandReputation #CrisisManagement #DataDrivenDecisions
Unraveling brand boycotts: What are the top triggers for consumer boycotts across global markets?
business.yougov.com
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It’s interesting to consider why Coca-Cola recently aired a television advertisement. This seems like an unconventional strategy for the brand, and in my opinion, it is not necessary to raise awareness about the legacy of this well-known product. Although there are concerns about a boycott, and it's unclear how much sales have dropped, Coca-Cola remains widely available in various retail outlets, including grocery stores, supermarkets, hypermarkets, and food courts. Any downturn in rural markets could be attributed to pricing issues rather than boycott concern it is my personal observation. Instead of relying on traditional television advertising, incorporating the Bangladesh flag into the packaging might be a more culturally relevant approach. Nevertheless, it is evident that many smart people are working on the brand’s strategy. Hopefully, they will manage these challenges with clarity and integrity, avoiding any unnecessary confusion or compromise.
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