How Arizona Has Kept Its Iced Tea 99 Cents | Still Standing | Business Insider
Skills:
RAG Basics60%
AriZona Beverages iced tea cans have cost 99¢ since the company was founded more than 30 years ago. But if the price were adjusted for inflation, those cans would be around $2.30 today. The company was founded by Don Vultaggio and John Ferolito in 1992, and back then, the competition was stiff with Snapple leading the market, and other powerful beverage brands launching their own iced teas, like Lipton and Nestea. At the time, these brands were all selling iced tea for around one dollar, but in 1997, AriZona decided to put its price directly on the can, making it awkward if individual store owners decided to increase the price. While prices for other brands, and even other AriZona products, have risen with inflation, AriZona's cans still have the 99¢ printed on them.
But the price the brand is now famous for was under threat when Vultaggio and Ferolito had different plans for the company's future. Ferolito wanted to sell the company against Don's wishes. Selling could have meant more corporate pressure and increased pricing. Eventually, Vultaggio and Ferolito went to court in what became New York's longest dissolution case in the state's history.
In addition to putting the price on the can, the company also made sure the design of the cans would stand out. They relied on bright colors and vivid imagery that mirrored a Southwest motif. Now the brand has a cult following, inspiring fans of the brand, called Zonies. Hannah Mead is a "Zonie" who designed her car to look like a can of AriZona green tea, ginseng, and honey.
00:00 - Intro
00:58 - Arizona’s Beginnings
01:57 - How Arizona Stood Out
03:46 - Arizona’s Commitment To 99 Cents
04:36 - Arizona’s ‘Zonie’ Fanbase
07:03 - Controlling The Price
08:11 - The Legal Battle
10:17 - Adjusting To New Challenges
13:17 - A New Era for Arizona
13:54 - Credits
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#Arizona #tea #stillstanding #businesssuccess #beverage
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Chapters (10)
Intro
0:58
Arizona’s Beginnings
1:57
How Arizona Stood Out
3:46
Arizona’s Commitment To 99 Cents
4:36
Arizona’s ‘Zonie’ Fanbase
7:03
Controlling The Price
8:11
The Legal Battle
10:17
Adjusting To New Challenges
13:17
A New Era for Arizona
13:54
Credits
🎓
Tutor Explanation
DeepCamp AI