What important lessons did Virgin chief executive Richard Branson learn in the mid-1990s when he launched Virgin Cola, directly targeting Coca-Cola's core market?
What will be an ideal response?
Starting a soft-drinks war with Coca-Cola was crazy. It was one of their highest profile business mistakes, though it was also one of the things that raised the profile of the Virgin name in America. By launching Virgin Cola they were having fun and reveling in bravado. However, taking on Coke taught them two lessons: how to make a great cola with a different taste; and how to antagonize a global business that brought in $28 billion in 2007, with profits of $5 billion. They underestimated the power and the influence of a global brand that epitomizes the strength and reach of American capitalism.
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