But not failure to learn. We did not do enough to understand and document precisely why we failed.
Coke CEO: Why we have an award for projects that fail By Catherine Clifford
Coca-Cola was invented in 1886 by Dr. John S. Pemberton in Atlanta, Georgia. That year, sales of the drink totaled $50. In fiscal year 2018, The Coca-Cola Company reported $31.9 billion in sales.
Today, the company has more than 700,000 employees and over 500 beverage brands — from Fanta and Minute Maid to Honest Tea and Odwalla to SmartWater and Dasani — sold in 200 countries.
When a company becomes to be so massive, it can be hard to keep the creativity and innovation that helped it grow in the first place. And that’s largely because with so much success people begin to fear failure, according to Coca-Cola Co. CEO James Quincey.
“Fear of failure is often the biggest hurdle for innovation in large organizations,” Quincey said in a recent Harvard Business Review Analytic Services (HBRAS) report commissioned by Mastercard. ... .... "
Showing posts with label Coke. Show all posts
Showing posts with label Coke. Show all posts
Wednesday, December 04, 2019
Tuesday, January 23, 2018
Learning from Failure
Think also, the After Action Review (AAR):
How Coca-Cola, Netflix, and Amazon Learn from Failure By Bill Taylor
Why, all of a sudden, are so many successful business leaders urging their companies and colleagues to make more mistakes and embrace more failures?
In May, right after he became CEO of Coca-Cola Co., James Quincey called upon rank-and-file managers to get beyond the fear of failure that had dogged the company since the “New Coke” fiasco of so many years ago. “If we’re not making mistakes,” he insisted, “we’re not trying hard enough.”
In June, even as his company was enjoying unparalleled success with its subscribers, Netflix CEO Reed Hastings worried that his fabulously valuable streaming service had too many hit shows and was canceling too few new shows. “Our hit ratio is too high right now,” he told a technology conference. “We have to take more risk…to try more crazy things…we should have a higher cancel rate overall.”
Even Amazon CEO Jeff Bezos, arguably the most successful entrepreneur in the world, makes the case as directly as he can that his company’s growth and innovation is built on its failures. “If you’re going to take bold bets, they’re going to be experiments,” he explained shortly after Amazon bought Whole Foods. “And if they’re experiments, you don’t know ahead of time if they’re going to work. Experiments are by their very nature prone to failure. But a few big successes compensate for dozens and dozens of things that didn’t work.”
The message from these CEOs is as easy to understand as it is hard for most of us to put into practice. I can’t tell you how many business leaders I meet, how many organizations I visit, that espouse the virtues of innovation and creativity. Yet so many of these same leaders and organizations live in fear of mistakes, missteps, and disappointments — which is why they have so little innovation and creativity. If you’re not prepared to fail, you’re not prepared to learn. And unless people and organizations manage to keep learning as fast as the world is changing, they’ll never keep growing and evolving. .... "
How Coca-Cola, Netflix, and Amazon Learn from Failure By Bill Taylor
Why, all of a sudden, are so many successful business leaders urging their companies and colleagues to make more mistakes and embrace more failures?
In May, right after he became CEO of Coca-Cola Co., James Quincey called upon rank-and-file managers to get beyond the fear of failure that had dogged the company since the “New Coke” fiasco of so many years ago. “If we’re not making mistakes,” he insisted, “we’re not trying hard enough.”
In June, even as his company was enjoying unparalleled success with its subscribers, Netflix CEO Reed Hastings worried that his fabulously valuable streaming service had too many hit shows and was canceling too few new shows. “Our hit ratio is too high right now,” he told a technology conference. “We have to take more risk…to try more crazy things…we should have a higher cancel rate overall.”
Even Amazon CEO Jeff Bezos, arguably the most successful entrepreneur in the world, makes the case as directly as he can that his company’s growth and innovation is built on its failures. “If you’re going to take bold bets, they’re going to be experiments,” he explained shortly after Amazon bought Whole Foods. “And if they’re experiments, you don’t know ahead of time if they’re going to work. Experiments are by their very nature prone to failure. But a few big successes compensate for dozens and dozens of things that didn’t work.”
The message from these CEOs is as easy to understand as it is hard for most of us to put into practice. I can’t tell you how many business leaders I meet, how many organizations I visit, that espouse the virtues of innovation and creativity. Yet so many of these same leaders and organizations live in fear of mistakes, missteps, and disappointments — which is why they have so little innovation and creativity. If you’re not prepared to fail, you’re not prepared to learn. And unless people and organizations manage to keep learning as fast as the world is changing, they’ll never keep growing and evolving. .... "
Wednesday, September 20, 2017
Coca Cola, AI and Big Data
The Amazing Ways Coca Cola Uses Artificial Intelligence And Big Data To Drive Success By Bernard Marr
" ... In fact, Coca Cola was one of the first globally-recognized brands outside of the IT market to speak about Big Data, when in 2012 their chief big data officer, Esat Sezer, said “Social media, mobile applications, cloud computing and e-commerce are combining to give companies like Coca-Cola an unprecedented toolset to change the way they approach IT. Behind all this, big data gives you the intelligence to cap it all off.”...
More recently, Greg Chambers, global director of digital innovation, has said “AI is the foundation for everything we do. We create intelligent experiences. AI is the kernel that powers that experience.” ... '
" ... In fact, Coca Cola was one of the first globally-recognized brands outside of the IT market to speak about Big Data, when in 2012 their chief big data officer, Esat Sezer, said “Social media, mobile applications, cloud computing and e-commerce are combining to give companies like Coca-Cola an unprecedented toolset to change the way they approach IT. Behind all this, big data gives you the intelligence to cap it all off.”...
More recently, Greg Chambers, global director of digital innovation, has said “AI is the foundation for everything we do. We create intelligent experiences. AI is the kernel that powers that experience.” ... '
Tuesday, January 03, 2017
Coke Closes Startup Incubator
With some interesting insights on how a big company can deal with startups or pre-startups. In TechCrunch. Followed Coke's innovations for some time. See previous tabs on Coke.Coca-Cola closes Founders startup incubator
by Ron Miller (@ron_miller)
After opening to much fanfare three years ago, Coca-Cola is shutting down The Founders program, according to a published report in Innovation Leader. Under this program, the company nurtured young startups, hoping to siphon some of that entrepreneurial energy and pass it along to the big lumbering corporation.
Over the last several years, companies have recognized the need to innovate, and the larger the company, the more difficult it is. David Butler, who, according to the report, has left the company, ran the program as VP of innovation. The company launched the program with the idea of giving startups with cool ideas some seed money — a million or less — along with access to the vast resources only a company the size of Coca-Cola could provide. ..... "
Saturday, December 10, 2016
Coke Rethinks Digital Strategy
Sounds like we need a more adaptive approach. In Adage:
Coke CMO Defends TV as Cola Giant Rethinks Digital Approach By E.J. Schultz.
Coca-Cola Co. global Chief Marketing Officer Marcos de Quinto on Friday defended TV advertising as providing the best bang for the buck while questioning the beverage giant's past digital spending practices. ... "
Coke CMO Defends TV as Cola Giant Rethinks Digital Approach By E.J. Schultz.
Coca-Cola Co. global Chief Marketing Officer Marcos de Quinto on Friday defended TV advertising as providing the best bang for the buck while questioning the beverage giant's past digital spending practices. ... "
Sunday, July 03, 2016
IOT and Vending Machines: Coke and SAP
Good points, we had looked at related applications with vending, service communications and kiosks, before the advent of IOT. Cognitive application of supply chain efficiencies can also be considered.
In Readwrite: IoT and vending machines: Connecting an already distributed network by Amanda Razani.
Smart vending machines are an excellent example of how the “Internet of Things” (IoT) can affect business models and revenue flow. ... The vending industry is going through a sea of change. The access to data that is generated by connected devices has changed the way companies can operate and the way in which they generate revenues. Constant connectivity allows companies to offer customers a product utility as a service, as seen in vending machines.
With user customization, improved security, smart payments and continuous monitoring of inventory and consumption patterns, opportunities for vending machines to dispense new products in more profitable ways, using a network of connected devices are limitless.
Traditional vending machines have evolved, since they were first introduced almost a century ago. Technology that includes more digital capabilities, has transformed them into smart, connected machines. ...
.... chipmaker Intel have stepped in with smart solutions, enabling a new breed of connected, smart vending machines that offer lower operating costs and cloud connectivity. With these solutions, machine operators can diagnose and repair systems remotely, and receive real-time updates, such as supply and operating status, that can be used to optimize delivery schedules and improve inventory tracking and controls.
Includes a case study of Coke and SAP.
In Readwrite: IoT and vending machines: Connecting an already distributed network by Amanda Razani.
Smart vending machines are an excellent example of how the “Internet of Things” (IoT) can affect business models and revenue flow. ... The vending industry is going through a sea of change. The access to data that is generated by connected devices has changed the way companies can operate and the way in which they generate revenues. Constant connectivity allows companies to offer customers a product utility as a service, as seen in vending machines.
With user customization, improved security, smart payments and continuous monitoring of inventory and consumption patterns, opportunities for vending machines to dispense new products in more profitable ways, using a network of connected devices are limitless.
Traditional vending machines have evolved, since they were first introduced almost a century ago. Technology that includes more digital capabilities, has transformed them into smart, connected machines. ...
.... chipmaker Intel have stepped in with smart solutions, enabling a new breed of connected, smart vending machines that offer lower operating costs and cloud connectivity. With these solutions, machine operators can diagnose and repair systems remotely, and receive real-time updates, such as supply and operating status, that can be used to optimize delivery schedules and improve inventory tracking and controls.
Includes a case study of Coke and SAP.
Monday, February 29, 2016
Turn Your Coke Packaging into a VR Viewer
More engagement with Virtual Reality . Will this drive the acceptance of VR as interface? In Fortune:
You can’t buy the world a Coke, but maybe you could see the world in virtual reality while you sip your Coke. ... That seems to be the idea behind the new designs Coca-Cola KO 0.12% just released that would turn some of the company’s cardboard packaging into foldable, origami-style virtual reality glasses for smartphones. ... "
(includes video of process at the link)
Sunday, August 30, 2015
Sharing Cokes as Advertising
Sharing Coke and user generated ads.
" ... Ogilvy's #shareacoke campaign for Coca-Cola has generated 250,000 tweets and almost 1 billion Twitter impressions, but that buzz may not have much long-term impact on consumers who aren't already Coke drinkers, writes Stephen Carter. "[W]ith younger consumers so fickle, the ability to turn marketing into magic will depend on part on whether the rising generation actually tries the product and likes the taste," he writes ... "
" ... This is where Coke's challenges arise. Even if fans are tweeting like mad, recent work suggests that user-generated ads have little effect on the preferences of borderline customers, and even arouse their skepticism. True, this effect seems to be lessened when the audience thinks the consumers who created the messages are people much like themselves. But with younger consumers so fickle, the ability to turn marketing into magic will depend on part on whether the rising generation actually tries the product and likes the taste. ... "
" ... Ogilvy's #shareacoke campaign for Coca-Cola has generated 250,000 tweets and almost 1 billion Twitter impressions, but that buzz may not have much long-term impact on consumers who aren't already Coke drinkers, writes Stephen Carter. "[W]ith younger consumers so fickle, the ability to turn marketing into magic will depend on part on whether the rising generation actually tries the product and likes the taste," he writes ... "
" ... This is where Coke's challenges arise. Even if fans are tweeting like mad, recent work suggests that user-generated ads have little effect on the preferences of borderline customers, and even arouse their skepticism. True, this effect seems to be lessened when the audience thinks the consumers who created the messages are people much like themselves. But with younger consumers so fickle, the ability to turn marketing into magic will depend on part on whether the rising generation actually tries the product and likes the taste. ... "
Tuesday, August 25, 2015
Coke Trials Beacons in Theaters
Evan Schuman on: Coke's movie theater trial shows beacon potential ... Retail beacons have huge potential, but it can only be met when chains move beyond seeing beacons solely as tiny ad broadcasters. Coca-Cola is starting to get creative about beacons, with a trial in Norway movie theaters to not merely communicate with moviegoers but to remember them for re-targeting later.
... "
Tuesday, May 19, 2015
The Hilltop Coke Ad
I am a bit of an advertising and marketing history buff. Met a few Mad Men era people while working at the world's largest marketer. One told me that the series was not too far from sixties reality. Also am old enough to have seen the Coke Ad in its run on TV. Have not closely followed the series, but was intrigued by the portrayal of the arrival of computers and analytics driving marketing, which I was part of. There definitely was a creative v engineering contention. With all that being said, the WSJ tells the real story of the Coke Hilltop Ad. New to me.
Saturday, April 25, 2015
Coke Consumer Clusters
Coca-Cola rewiring marketing around ‘consumer clusters’ to make sales pop
The drinks maker’s chief executive Muhtar Kent let slip the strategic shift today (22 April) when he told analysts on a conference call that its focus on “customer clusters” had helped put sales on the road to recovery. Sales jumped 1.3 per cent to $10.7bn in the three months to March, propelled by a 6 per cent boost in North America, its biggest market. ....
.... Struck by the terminology, 'Consumer clusters' that I cannot define precisely .... Nor can the article .... Segmentation in the usual sense, I presume.
The drinks maker’s chief executive Muhtar Kent let slip the strategic shift today (22 April) when he told analysts on a conference call that its focus on “customer clusters” had helped put sales on the road to recovery. Sales jumped 1.3 per cent to $10.7bn in the three months to March, propelled by a 6 per cent boost in North America, its biggest market. ....
.... Struck by the terminology, 'Consumer clusters' that I cannot define precisely .... Nor can the article .... Segmentation in the usual sense, I presume.
Tuesday, October 14, 2014
Coke Freestyle Gets Personal
Saw some early ideas for delivering this. Makes a lot of sense to personalize the sometimes complex interaction. Plan to test. " ... Building on its legacy as a game-changing innovation,
Coca-Cola Freestyle® is set to make the consumer experience even more personal. An enhanced “Create Your Own Mix” feature on the popular Coca-Cola Freestyle app launching in January 2015 allows users to choose from 100+ drink options to create a custom mix of their own and then, for the first time, connect their smartphones to dispensers at participating outlets and pour it on the spot. It works in just a few easy steps – simply download, mix, pour, enjoy and share .. "
Friday, October 10, 2014
Coca-Cola Gathers Streams of Big Data
Another example of the broadening use of Splunk for analyzing data streams.
Coca-Cola gets inspiration for IT automation from its bottling plants
Able to tell what people are buying from vending machines and when
Coca-Cola, the multi billion pound drinks company, today revealed that its automated bottling plants are inspiring its IT operations, particularly in the area of data collection.
Michael Connor, the multinational corporation's senior platform architect and the man behind the claim, said Coca-Cola is collecting unprecedented levels data as a result of automation processes that have been enabled through Splunk’s data management and analytics platform, in conjunction with the Amazon Web Services cloud platform. .... "
Coca-Cola gets inspiration for IT automation from its bottling plants
Able to tell what people are buying from vending machines and when
Coca-Cola, the multi billion pound drinks company, today revealed that its automated bottling plants are inspiring its IT operations, particularly in the area of data collection.
Michael Connor, the multinational corporation's senior platform architect and the man behind the claim, said Coca-Cola is collecting unprecedented levels data as a result of automation processes that have been enabled through Splunk’s data management and analytics platform, in conjunction with the Amazon Web Services cloud platform. .... "
Thursday, July 31, 2014
Pepsi Spire: Late Stage, on Shelf Customization
We saw early versions of Coke's Freestyle machine, an example of fashionable late stage drink differentiation that is now common in the marketplace. An example of good engagement, provided by on site customization, but how profitable is it? Now Pepsi is to follow with a similar idea, previewed in AdAge. There is a claim that the Pepsi machine will let you invent your own beverage, but won't let you create a terrible beverage. A hint at selection intelligence? Can selective product development intelligence be delivered to the consumer at point of purchase? The ultimate end-stage differentiation. And how can this be demonstrated to the purchaser?
More from Pepsi. @Pepsispire
More from Pepsi. @Pepsispire
Sunday, December 08, 2013
Coke Marketing Turns to Storytelling
A recent interest through a startup. So what can be done to create a story? Contructing ideal template and storyboards? Modern advertising has always been about telling a story. So how is this different? Is it just engagement or marketing through stories. More I have written on Storytelling.
Coca-Cola's marketing turns to storytelling
Coca-Cola launched its Journey website last year, an editorial, image-heavy site focused on connecting with consumers which was followed by the development of a blogger contributor network. The company looks for share-worthy content with universal appeal. One such story, the Coca-Cola Small World Machines, generated 8,000 social shares or likes and had more than 48,000 visitors in the first week .... "
Coca-Cola's marketing turns to storytelling
Coca-Cola launched its Journey website last year, an editorial, image-heavy site focused on connecting with consumers which was followed by the development of a blogger contributor network. The company looks for share-worthy content with universal appeal. One such story, the Coca-Cola Small World Machines, generated 8,000 social shares or likes and had more than 48,000 visitors in the first week .... "
Friday, November 15, 2013
Coke Online Mag Succeeds
Coke has an online magazine. Why does one of the best known brands in the world need its own magazine? Not sure how this would work with much less known brands, but I like the characteristics they are requiring for articles in the magazine. Apparently very successful. In Smartblogs.
Tuesday, November 12, 2013
Millennials and Shopper Marketing
In Smartblogs: The rise of the omni-channel shopper in the millennial. The link below is also of interest and new to me.
" ... The Coca-Cola Company sponsors this blog post and leverages proprietary insights to create world-class shopper marketing activities designed to help retailers convert more shoppers into buyers. Visit www.cokesolutions.com to learn more.
Digital media has changed the way and the speed in which people shop. Marketers must now provide consumers with a full buying experience both online and in-store, adding a new dimension to their jobs. In particular, understanding the purchasing habits of millennials, who were raised with online shopping as a part of daily life, can be a challenge since many younger consumers have different expectations and approaches to buying. ... "
" ... The Coca-Cola Company sponsors this blog post and leverages proprietary insights to create world-class shopper marketing activities designed to help retailers convert more shoppers into buyers. Visit www.cokesolutions.com to learn more.
Digital media has changed the way and the speed in which people shop. Marketers must now provide consumers with a full buying experience both online and in-store, adding a new dimension to their jobs. In particular, understanding the purchasing habits of millennials, who were raised with online shopping as a part of daily life, can be a challenge since many younger consumers have different expectations and approaches to buying. ... "
Monday, May 13, 2013
Pepsi's Touch Tower
Tuesday, March 19, 2013
Buzz and Lift
In AdAge: Buzz online creates little or any product lift in the short term for Coke. Article provides some interesting statistics, with uncertainties. The comments are also very interesting.
World Peace via Vending Machines
A curious project from Coke using vending machines to promote world peace. Would they then need a vending App too? The Happiness project: " ... Coke quietly posted this teaser video back in late December, but sources suggest a bigger announcement is coming soon and that it will be a major project for the brand. It shows vending machines capable of connecting users, bound for not-so-friendly neighbors India and Pakistan. Video technology means the users in the two countries will actually be able to see each other and touch hands virtually; the idea is that it could roll out to various countries in conflict.... "
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