Coca-Cola's chief executive E. Neville Isdell laid out a plan to improve the company's execution and restore employee belief in the soft drink giant. As part of its efforts, Coke plans to spend up to $400 million for marketing annually to promote its carbonated soft drinks, as well as Powerade and Minute Maid.
Coca-Cola wants agencies to develop advertisements for Coca-Cola Classic that will be appropriate in any country and culture so it can augment, not replace, local advertising, sources said. The company has approached a roster of ad agencies, asking that ideas for the campaign be submitted within the next 60 days.
The legal music download site, www.mycokemusic.com, is now the second-largest music site in the U.K., offering more than 250,000 songs to consumers to choose from. Analysts agree the site won't make Coca-Cola Great Britain a lot of money, but one argues "This is a way of making brands like Coca-Cola more hip and a way of connecting with younger consumers."