Abstract

When soccer star Cristiano Ronaldo removed the Coca-Cola bottles in front of him at a press conference during Euro 2020, it immediately drew the attention of fans, the media, and many others. It was not only Ronaldo, but several other celebrities too who were beginning to distance themselves from unhealthy brands, either because of a feeling of social responsibility or of the fear that associating with an unhealthy brand would tarnish their own image. Coca-Cola’s valuation fell following the incident and its image was dented. However, experts opined that other factors might have contributed to the fall in Coca-Cola’s valuation.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• To analyze the reasons for the fall of Coca-Cola’s market capitalization
• To understand the impact of unhealthy brand endorsement on celebrities
• To understand the importance of marketing ethics

Keywords

Social responsibility; Celebrities; Unhealthy brand; Brand promotion; Market capitalization; Marketing ethics; Ethics; Brand image; Celebrity endorsement; Marketing realities