A 2016 consumer survey in the United Kingdom revealed that five out of 10 people did not know that Coca-Cola Zero (Coke Zero) contained no sugar. Many respondents also expected Coke Zero to taste more like Coca-Cola Classic, but found the taste not similar enough. Therefore, Coca-Cola relaunched the product with an ambitious multimillion-dollar marketing campaign that followed a three-dimension value management cycle encompassing value creation, value communication, and value capture. To successfully relaunch Coke Zero and achieve the company’s objectives, Coca-Cola would need to both anticipate the challenges in each of these three phases and manage them effectively.
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