hannamyluv - 2:43 am on Aug 19, 2013 (gmt 0)
did EXHAUSTIVE blind taste tests and people preferred the taste of new coke by a huge margin ( I think it was something like 2 to 1).
You are correct in this. This is what I read as well, but their downfall was in the fact that they did a one sip test originally. When "full can" tests were done later, it was found that people hit a taste threshold... that new (sweeter) Coke only beat Classic Coke (and Pepsi) in the short term, one sip taste. If they finished a whole can, the overall taste at the end was too cloying, too sweet.
There is a lot to be taken away from that in terms of making changes to any business. Make changes too fast and you can do serious damage. (been there, almost did that)
Then you have the case of Red Bull, who came out of nowhere as far as soda companies were concerned. The taste is far inferior to both Coke and Pepsi, but they drew off a significant chunk of the market because they offered something (beyond taste) different.
I think these are important lessons to study for any business, internet or otherwise.