Conducting Market Research the Right Way
You’ve heard the story before. When Coca-Cola replaced their original soft drink with new Coke in 1985, things went haywire. People began to hoard original Coca-Cola, some identifying the situation as a business opportunity and reselling original Cokes on the black market for a higher price. After conducting over 200,000 taste tests and spending close to $4 million in product development, Coca-Cola was forced to remove new Coke from..