Coca-Cola and Cristiano Ronaldo — An Irrational Relationship
Recently, during Euro Football Championship 2020, in a pre-match conference, Cristiano Ronaldo put aside two Coca-Cola bottles placed in front of him and instead kept a water bottle. And hours later with various articles, he was to be blamed for Coke’s loss of shares worth $4 Billion.
Celebrities do have an influence and these scenarios tend to become epitome of brand image and reputation of both, celebrity as well as the company.
After this incident, the internet was on fire with various memes on Coke and Ronaldo, creating a buzz about what Coke should do and Ronaldo shouldn’t.
Talking about how relevant and true is this fact that actually Coke shares prices went down after this incident. People tend to believe more what is emotionally acceptable rather than analyzing the real truth and facts. The fact is that on 14th June, entire US stock market was low. In fact, Coca-Cola had already lost $4 Billion in the very first 10 minutes, as those shares became ex-dividend which was expected, but the coincide incident just added some spice.
Honestly speaking, this incident really didn’t had much to do with the company’s reputation or brand image or the celebrity’s image, except for being a source of entertainment for Coke and Ronaldo lovers through memes shared across various digital platforms, but this doesn’t deny the fact that celebrities do have an influence whether it is to promote or demote a brand.
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