Sergio Zyman
Encyclopedia
Sergio Zyman is a Mexican marketing
executive best known as the marketer behind the failed launch of New Coke
now regarded as one of the greatest marketing blunders of all time. In a May 1, 1995 cover story Fortune Magazine referred to New Coke
as the biggest marketing blunder since the launch of Ford's Edsel
. New Coke
was launched with an improved flavor that replaced the original Classic Coke flavor. After significant consumer opposition Classic Coke was reintroduced in just 77 days.
As per Fortune Magazines 1995 cover story:
Zymans work experience includes tenures with Coca-Cola
, PepsiCo
, and Procter & Gamble
, and his own firm Zyman Group. He is also known for helping introduce Diet Coke
in 1982 and conceiving Fruitopia
in 1994.
Since leaving the Coca-Cola Company Zyman launched a consulting firm called the Zyman Group that he sold to MDC Partners
Inc., a Canadian advertising firm holding company , for around $60 million in April 2005. He was replaced there as Chairman by Scott Miller, formerly with McCann Erickson
and the Sawyer/Miller Group and is no longer part of the Zyman Group's management team - though he is listed as the founder of the company on its website. He has written four books to date on his experiences in marketing and advertising the last one Renovate before you Innovate written with Armin Brott was published in 2004. Zyman is currently a paid professional public speaker, and can be booked. He can be seen in this role on Youtube.com as a paid speaker at the Kitchen Bath Industry Show (KBIS) held between April 14–18, 2010 in Chicago.
Sergio Zyman is of Mexican Jewish heritage and is originally a native of Mexico City
. He attended executive programs at Harvard University and graduate schools in London, Paris and Jerusalem though his professional resume does not list a graduate degree.
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
executive best known as the marketer behind the failed launch of New Coke
New Coke
New Coke was the reformulation of Coca-Cola introduced in 1985 by The Coca-Cola Company to replace the original formula of its flagship soft drink, Coca-Cola...
now regarded as one of the greatest marketing blunders of all time. In a May 1, 1995 cover story Fortune Magazine referred to New Coke
New Coke
New Coke was the reformulation of Coca-Cola introduced in 1985 by The Coca-Cola Company to replace the original formula of its flagship soft drink, Coca-Cola...
as the biggest marketing blunder since the launch of Ford's Edsel
Edsel
The Edsel was an automobile manufactured by the Ford Motor Company during the 1958, 1959, and 1960 model years. The Edsel never gained popularity with contemporary American car buyers and sold poorly. Consequently, the Ford Motor Company lost millions of dollars on the Edsel's development,...
. New Coke
New Coke
New Coke was the reformulation of Coca-Cola introduced in 1985 by The Coca-Cola Company to replace the original formula of its flagship soft drink, Coca-Cola...
was launched with an improved flavor that replaced the original Classic Coke flavor. After significant consumer opposition Classic Coke was reintroduced in just 77 days.
As per Fortune Magazines 1995 cover story:
- " Zyman, then head of U.S. marketing, was coming off his enormously successful introduction of diet Coke when he was assigned day-to-day responsibility for top-secret Project Kansas in 1984. The zealous Mexican insisted that Coca-Cola (or Co-Coola, as he pronounces it) must act boldly to reverse its 20-year market-share decline vs. Pepsi. Zyman, a former Pepsi marketer, argued that the correct strategy was to replace 98-year-old Coke with a better-tasting cola, label it New CokeNew CokeNew Coke was the reformulation of Coca-Cola introduced in 1985 by The Coca-Cola Company to replace the original formula of its flagship soft drink, Coca-Cola...
," and blare the news--which is exactly what the company did one decade ago this April. Zyman's greatest error, which some attribute to ego, was that he and his team failed to present the option of keeping old Coke on the market."
Zymans work experience includes tenures with Coca-Cola
Coca-Cola
Coca-Cola is a carbonated soft drink sold in stores, restaurants, and vending machines in more than 200 countries. It is produced by The Coca-Cola Company of Atlanta, Georgia, and is often referred to simply as Coke...
, PepsiCo
PepsiCo
PepsiCo Inc. is an American multinational corporation headquartered in Purchase, New York, United States, with interests in the manufacturing, marketing and distribution of grain-based snack foods, beverages, and other products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company...
, and Procter & Gamble
Procter & Gamble
Procter & Gamble is a Fortune 500 American multinational corporation headquartered in downtown Cincinnati, Ohio and manufactures a wide range of consumer goods....
, and his own firm Zyman Group. He is also known for helping introduce Diet Coke
Diet Coke
Diet Coke is a sugar-free soft drink produced and distributed by The Coca-Cola Company. It was first introduced in the United States on August 9, 1982, as the first new brand since 1886 to use the Coca-Cola trademark...
in 1982 and conceiving Fruitopia
Fruitopia
Fruitopia is a fruit-flavoured drink introduced by The Coca-Cola Company in 1994 and targeted at teens and young adults. According to New York Times business reports, it was invented as part of a push by Coca-Cola to capitalize on the success of Snapple and other flavored tea drinks. The brand...
in 1994.
Since leaving the Coca-Cola Company Zyman launched a consulting firm called the Zyman Group that he sold to MDC Partners
MDC Partners
MDC Partners Inc. is a holding company based in Toronto, Canada and New York. It was founded by Miles Nadal who is also the CEO of MDC Partners.The company is primarily known for its holdings in advertising companies, especially Crispin Porter and Bogusky....
Inc., a Canadian advertising firm holding company , for around $60 million in April 2005. He was replaced there as Chairman by Scott Miller, formerly with McCann Erickson
McCann Erickson
McCann Erickson is a global advertising agency network, with offices in more than 130 countries. McCann is a subsidiary of the Interpublic Group of Companies, one of the four large holding companies in the advertising industry....
and the Sawyer/Miller Group and is no longer part of the Zyman Group's management team - though he is listed as the founder of the company on its website. He has written four books to date on his experiences in marketing and advertising the last one Renovate before you Innovate written with Armin Brott was published in 2004. Zyman is currently a paid professional public speaker, and can be booked. He can be seen in this role on Youtube.com as a paid speaker at the Kitchen Bath Industry Show (KBIS) held between April 14–18, 2010 in Chicago.
Sergio Zyman is of Mexican Jewish heritage and is originally a native of Mexico City
Mexico City
Mexico City is the Federal District , capital of Mexico and seat of the federal powers of the Mexican Union. It is a federal entity within Mexico which is not part of any one of the 31 Mexican states but belongs to the federation as a whole...
. He attended executive programs at Harvard University and graduate schools in London, Paris and Jerusalem though his professional resume does not list a graduate degree.