Several years ago coca cola decided to change the formula


Several years ago Coca Cola decided to change the formula for its major Coca-Cola product line. They used panel taste-test and branded the new product as "New Coke" It was a failure and the company lost major market share to another soft drink maker. Soon, the company had to return to the original formula brand it "Classic Coke". Explain what issues in consumer demand could have caused the failure?

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Business Economics: Several years ago coca cola decided to change the formula
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