Today in History

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April 23, 1985, stands as one of the most significant dates in business history — the date the 99-year-old Coca-Cola company announced it was scrapping its original soda  formula for a newer, sweeter version. In blind taste tests, consumers generally  preferred “new Coke” over the original drink and competitor Pepsi, but the  company severely underestimated the nation’s sentimental attachment to the  iconic American brand. After being flooded with phone calls, 40,000  letters and reams of bad press, the company backtracked three months later,  announcing the return of Coca-Cola “classic”.  Sales for  the original Coca-Cola surged, restoring it as the dominant leader in the  nation’s competitive soda market. The reviled replacement drink stuck around and  was later rebranded “Coke II” before eventually fading away.

Source: www.time.com

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