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Reviving a Dead Brand: Goldspot Submitted By: Nikhil Budhkar A 13 Varun Maini A 51

Goldspot

Gold Spot

Gold Spot logo

Type

Cola

Manufacturer

The Coca-Cola Company

Country of origin

India

Introduced

1977

Discontinued

2000

Colour

Orange

Flavour

Orange

Gold Spot was one of the three brands of carbonated soft drink started in India by Parle under the initiative of its founder Ramesh Chauhan in 1977 after the exit ofCocaCola and PepsiCo from the Indian market. Gold Spot was introduced along with Thums Up and Limca. It was artificially flavoured and coloured orange. Parle sold Gold Spot along with Thums Up, Limca, Citra and Maaza to Coca-Cola in 1993 (which had just relaunched in the Indian [3][4] market), reportedly for $ 40 million. In spite of its wide popularity, Gold Spot was [5] withdrawn by Coke from the market in order to re-make space for Coca-Cola's Fanta brand. Gold Spot had a catchy punch line - "The Zing Thing."

As per data available from the Ministry of Food Processing Industries of India (MoFPI), Gold Spot has a market share of 2% among all soft drink companies (Cola + Non-Cola drink [6] Manufacturers) during the year 2009-10.

How do you know when your company or brand is in trouble? Simple: When a preponderance of symptoms from the following list start popping up in your monthly or quarterly executive meetings. The short list:

Pricing pressures are eroding your market share (and you cant seem to reverse the trend without lowering your prices). Consumer preference data indicates that you are no longer either a contender for the top 1 or 2 choices in your product category. Your quarterly net new customer count is either decreasing or stalled. You are seriously contemplating eliminating 5-20% of your workforce to reduce costs. Customer complaints about your brand are increasing. (Quality, service, delivery, etc.) You have lost several of your best (historical) customers in the last 12 months. Your competitors products are getting a lot of great press and attention. Yours are not. Your best talent is starting to walk away. You are having a very tough time recruiting talent. You have cut costs by moving your call centers overseas, but now your customer service department is broken. Despite spending an obscene amount of money on marketing, advertising or PR campaigns, your business barely matches your industrys growth rate. (If youre lucky.)

At least two out of the three cardinal measurements of your sales health (Frequency of sales, Reach of sales and average sales yield) show a flat or decreasing trend YoY.*

Corporate lingo for those of you who havent had the pleasure of working on the client side: QoQ = Quarter over Quarter. YoY = Year over Year.

Rebranding Strategies

1. 2. 3. 4. 5. 6. 7. 8.

Reintroducing with the improvised and same Jingle Trying to connect the brand with youth Using the same name and connecting it with Original Goldspots Image. Using The Band Goldspot create and introduce Goldspot trough their new song and making use of Social media like twitter and Youtube to publicize Goldspot. Taking a Long term revival decision and investing in it Understanding how Fanta and Goldspot can co exist together. How to cater the audience in India through thorough Market research and understanding the brands recall strategy. Introducing only the 200ml bottle at 1st priced at Rs.8

9. Testing it with the market and trying to Milk it as soon as possible with the old Goldspots brand equity.