Staff Reports
Kevin O’Leary, a well-known investor from the television show Shark Tank, has announced his plans to travel to business schools across the country to teach about the major failure of Bud Light. O’Leary explained in an interview with Fox News that the key to success in the beer market is building a strong brand. He pointed out that beer itself is essentially the same, but what sets different brands apart is their marketing and reputation.
.@ABCSharkTank star @kevinolearytv announced he will travel to business schools across the country to teach about the debacle that was the Bud Light collapse.https://t.co/It43DMIDF5
— Washington Examiner (@dcexaminer) August 1, 2023
According to O’Leary, prior to the collapse of Bud Light brought on by their partnership with controversial transgender influencer Dylan Mulvaney, the most significant changes in the beer market typically measured a 1% to 5% shift in market share over a year. Bud Light, however, lost a staggering 25% of its market share. O’Leary emphasized that this kind of loss had never been seen before in the beer industry.
This is an extraordinary case that I'll be teaching in business schools across America this fall. To lose 25% of the market share has never been achieved.
We're still talking about this situation months later, and they continue to lose share! pic.twitter.com/P4pDSN1lta
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) July 31, 2023
O’Leary also highlighted the power of social media in today’s world. He mentioned that many CEOs believed that negative stories on social media would blow over within a day or two. However, the Bud Light debacle proved otherwise. Months later, people are still talking about it and Bud Light continues to lose market share.
In light of the Bud Light collapse, O’Leary announced that he will be teaching about this extraordinary case in business schools all over America. He wants to educate future business leaders on the importance of maintaining a strong brand and being mindful of the potential risks associated with controversial partnerships. O’Leary hopes that by sharing his insights, others can avoid making the same mistakes and prevent their businesses from suffering similar losses.
Editorial Opinion:
This story serves as a cautionary tale about the consequences of mixing politics with business. Bud Light’s decision to team up with a controversial figure had a detrimental impact on their brand and bottom line. It’s a reminder that businesses should prioritize their customers’ interests over political ideologies. In today’s hyper-polarized world, brands need to tread carefully and be aware of the potential backlash that can come from taking a stance on sensitive topics. Otherwise, they risk alienating a significant portion of their consumer base and suffering significant financial losses.
