Impact on Coca-Cola after Ronaldo removes Coca Cola bottles

 

Action - 'Drink water': Cristiano Ronaldo removes Coca Cola bottles during the press conference; video goes viral - Times Now
Reaction -  Coca-Cola Lose USD 4 Billion After Cristiano Ronaldo Moves Bottle
The Issue-
In recent days during press conference in EURO CUP Ronaldo 

1. removes Coca-Cola bottle
2. told clearly to drink water.

Ronaldo is just not a person but a brand. He is not only followed in his country but also worldwide. Due to these two actions, we can see the effect on the Coca-Cola market share.

It is reported that “the market’s open in Europe, Coca Cola’s shares were worth $56.1, but by the time Ronaldo and his Portugal boss Fernando Santos left their seats at the press conference, shares had dropped to $55.2 each.”

Now how should Coca-Cola respond?
·        Coca-Cola responded- "everyone is entitled to their drink preferences"
    This was the perfect reply. Because anything harsh can hurt Ronaldo fans and if they do support Ronaldo’s words this can also malign brand image.

·        Coca-Cola should promote Kinley water in the EURO CUP. which is already in the star quadrant of the BCG matrix.
·        Diet coke’s market is very low. They can promote it.
·        People use soft drinks with pizza, burger etc. So They can promote it as a portion of fast food and Can run an advertising campaign where people with Coca-Cola enjoy quality time with friends and family.

Coca-Cola is a very old and big brand. Surly It will take some decision to counter this problem.