The fast food market is an ever-changing space, and it needs to stay interesting for those who regularly consume what it has to offer. That’s part of the reason why there are new items on the menu every time you head to the drive-thru.
Sometimes that’s just not enough, and that’s where the celebrity-approved meal comes in. Ever since McDonald’s MCD introduced the McJordan Special Value Meal in 1992, based on the huge popularity of basketball player Michael Jordan at the time, it has become a staple on many fast food menus ever since.
From KFC (KFC) partnership with Grammy-nominated American rapper Jack Harlow, at McDonald’s (MCD) – Get McDonald’s Corporation report take out a BTS Meal, or Taco Bell (YUM) – Get yum! Report Brands Inc. partnering with Dolly Parton and Doja Cat on Tik Tok to announce a revived menu item, it’s clear that celebrity collabs continue to grab the attention of consumers.
Does this strategy make money? Absolutely. McDonald’s caught the eye of the huge fanbase when it released BTS Meal, which was so popular that the meals are even sold on eBay. (EBAY) – Get the report from eBay Inc. for $365 (and that’s just for the bag the meal came in).
Of course, without the highlight of social media apps like Tik Tok, Facebook, and Instagram (META) – Get the report from Meta Platforms Inc.Twitter (TWTR) – Get the Twitter Inc. report.and YouTube (GOOGL) – Get the Alphabet Inc. report., these brands have access to potential future customers like never before. They allow fast food chains to connect directly with consumers and celebrities, fostering a mutual relationship.
Now The Coca-Cola Company (COKE) – Get the Coca-Cola Consolidated Inc. has a new brand partnership, through its Coca-Cola Creations division.
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Coca-Cola teams up with DJ Marshmello
Coke recently announced that it will be teaming up with music producer and DJ Marshmello on a limited-edition flavor, which has nothing to do with the campfire’s favorite marshmallow, but rather the DJ/producer’s favorite flavors of music: watermelon and strawberry.
The drink sports a sleek black and white design (courtesy of Forpeople) and will be made in a regular and sugar-free version. Coca-Cola has yet to announce pricing for the limited-edition flavor of Marshmello. The new drinks are expected to be available domestically beginning July 11, 2022 and in Canada July 25, 2022.
Coca-Cola has been adventurous lately with its flavors and marketing ventures. From introducing a coffee mocha flavor with 69 milligrams of caffeine in each 12-ounce can to releasing a canned version of rum and coke, it’s clear that Coca-Cola is looking to expand its horizons. The soda company has also focused on helping the climate with plant-based packaging.
How does this benefit Coca-Cola?
Despite its long-standing hold on the soda market, the company continues to take steps to stay competitive. It reported stronger-than-expected first-quarter earnings, pushing its stock to a record high despite operating in what it calls “a very dynamic and uncertain operating environment.”
“Group revenue,” Coca-Cola said, “increased 16.4% to $10.5 billion, a figure that also topped analysts’ estimates of $9.83 billion. Organic revenue increased by 18% and the group’s operating margin improved to 32.5%,” said Martin Baccardax of TheStreet. reported in April 2022.