Why Ronaldo’s Coca-Cola and Pogba’s Heineken snubs will have sponsors rethinking their strategy

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  • Global News published this video item, entitled “Why Ronaldo’s Coca-Cola and Pogba’s Heineken snubs will have sponsors rethinking their strategy” – below is their description.

    Brands are likely to rethink their sponsorship strategy after soccer superstars Cristiano Ronaldo and Paul Pogba shunned Coca-Cola and Heineken at Euro 2020 press conferences, according to a marketing expert.

    Coca-Cola‘s market value abruptly plunged by about $4 billion this week, in a dive that coincided with Ronaldo’s snub of the Euro 2020 sponsor at the tournament press conference.

    France midfielder Paul Pogba removed a bottle of Heineken beer that had been placed in front of him at a Euro 2020 news conference on Tuesday, a day after the Portugal captain moved aside Coca-Cola bottles in a similar set-up.

    Neil Graney, Assistant Professor in Marketing and Management at Durham University Business School, said that while the big brands like these will recover from the incidents, it is likely to spark conversations about how they could use the sponsorship deals, or activate their sponsorship, in a better way.

    For more info, please go to https://globalnews.ca/news/7954257/cristiano-ronaldo-coca-cola-snub-euro-2020/

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    In This Story: Coca-Cola

    The Coca-Cola Company is an American multinational beverage corporation incorporated under Delaware’s General Corporation Law and headquartered in Atlanta, Georgia. The Coca-Cola Company has interests in the manufacturing, retailing, and marketing of nonalcoholic beverage concentrates and syrups.

    The company produces Coca-Cola, invented in 1886 by pharmacist John Stith Pemberton. In 1889, the formula and brand were sold for $2,300 (roughly $67,000 today) to Asa Griggs Candler, who incorporated The Coca-Cola Company in Atlanta in 1892.

    The company has operated a franchised distribution system since 1889. The company largely produces syrup concentrate, which is then sold to various bottlers throughout the world who hold exclusive territories. The company owns its anchor bottler in North America, Coca-Cola Refreshments.

    The company’s stock is listed on the NYSE and is part of DJIA and the S&P 500 and S&P 100 indexes. Revenue US$37.27 billion (2019).

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    France is a republic and the largest Western European nation. Through expansion and colonisation in the 17th and 18th centuries France became a great power and still retains territories around the world. It has a seat on the UN security council and is the world’s fourth most wealthy country with a high standard of living and strong cultural identity.

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    Portugal is a southern European country on the Iberian Peninsula, bordering Spain. Its location on the Atlantic Ocean has influenced many aspects of its culture: salt cod and grilled sardines are national dishes, the Algarve’s beaches are a major destination and much of the nation’s architecture dates to the 1500s–1800s, when Portugal had a powerful maritime empire. 

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