Coca-Cola’s latest partnership ought to draw a lot of attention.
The fast food market is an ever-changing space, and it needs to be to remain interesting to those who regularly consume what it has to offer. That’s part of the reason why there are new items on the menu every time you head to the drive-thru.
Sometimes it’s just not enough, though, and that’s where the celebrity-endorsed meal comes into play. Ever since McDonald’s MCD introduced the McJordan Special Value Meal in 1992 based on basketball player Michael Jordan’s enormous popularity at the time, it’s become a staple on many a fast-food menu ever since.
From KFC (KFC) partnering with Grammy-nominated American rapper Jack Harlow, to McDonald’s (MCD) – Get McDonald’s Corporation Report releasing a BTS Meal, or Taco Bell (YUM) – Get Yum! Brands Inc. Report partnering with Dolly Parton and Doja Cat on Tik Tok to announce a revived menu item, it is clear that celebrity collaborations continue to draw major attention from consumers.
Does this strategy make money? Absolutely. McDonald’s captured the attention of the enormous fanbase when it released the BTS Meal, which was so popular the meals are even being sold on eBay (EBAY) – Get eBay Inc. Report for $365 (and that’s just for the bag the meal came in).
Of course, without the culmination of social media apps like Tik Tok, Facebook and Instagram (META) – Get Meta Platforms Inc. Report, Twitter (TWTR) – Get Twitter Inc. Report, and YouTube (GOOGL) – Get Alphabet Inc. Report, these brands have access to potential future customers in a way like never before. They allow fast-food chains to connect with consumers and celebrities first hand, fostering a mutual relationship.
Coca-Cola Partners with DJ Marshmello
DJ and Music Producer Marshmello Partners with Coca-Cola
Coke recently announced that it would partner with music producer and DJ Marshmello on a limited edition flavor, which has nothing to do with the campfire favorite marshmallow, but rather the DJ/music producer’s favorite flavors: watermelon and strawberry.
The drink boasts a sleek black and white design (thanks to Forpeople) and will be made in both regular and Zero Sugar versions. Coca-Cola has not announced how much Marshmello’s limited edition flavor will cost yet. The new drinks are expected to be available domestically beginning July 11th, 2022 and in Canada on July 25th, 2022.
Coca-Cola has been adventurous as of late with both its flavors and its marketing ventures. From introducing a Coffee Mocha flavor that has 69 milligrams of caffeine in every 12-ounce can to releasing canned version of rum & Coke, it is clear that Coca-Cola seeks to expand its horizons. The soda company has also shifted to focusing on helping the climate with plant-based packaging.
How Does This Benefit Coca-Cola?
Despite its long-established grip on the soda market, the company continues to make moves to remain competitive. It reported stronger-than-expected first quarter earnings, causing its stock to rocket to a record high despite operating in what it calls “a highly dynamic and uncertain operating environment.”
“Group revenues, Coca-Cola said, rose 16.4% to $10.5 billion, a figure that also topped analysts’ estimates of an $9.83 billion tally. Organic revenues were up 18% and the group’s operating margin improved to 32.5%,” TheStreet’s Martin Baccardax reported in April 2022.