Word: pepsi
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Dates: during 1950-1959
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Harvard was by far and away the most popular choice of the 489 Pepsi-Cola scholars chosen during the years 1945-48, a report on the scholarship program has revealed. The Program was discontinued in 1948 and the last of the winners graduates this month, thus prompting the scholarship board to make its evaluation of the entire program...
Just under ten percent of the 489 men and women took the Pepsi-Cola guarantee of all tuition paid and went off to Harvard, the report stated. It did not list the figures for those who attended women's colleges, but some winners presumably did enter Radcliffe...
Crystal Balls. A veteran adman and onetime vice president in charge of sales at Coca-Cola, Steele knew what was wrong with Pepsi when he took over. The accounting system was so slipshod that management did not even know the production figures of some of its biggest bottlers, or the breakdown of its costs. Says Steele: "They were operating by gazing into a crystal ball." Steele brought in a bunch of old Coca-Cola hands, set up a detailed method of cost accounting. He slashed costs by eliminating executive bonuses (he incorporated his own in his $96,000-a-year...
...cost with bottlers on their local advertising, helped them buy more trucks and bottles to fill the peak hot weather sales. He bought and revamped 17 bottling plants at a cost of $13 million, sold some of them to new bottlers, added more flavoring to his drink. To keep Pepsi uniform...
Movie Houses. The old management had frowned on selling Pepsi in vending machines; under Steele, 42,000 were add ed in 1951 alone. As a vice president at Coca-Cola, Steele had pushed Coke in movie houses. Now, he persuaded some of his old friends such as National Theaters Corp.'s Charles P. Skouras to put in Pepsi instead. Abroad, Steele moved into five new countries, bringing Pepsi's foreign markets to 44, and got some important people to push his product. (The Cairo bottler, for example, has close Farouk connections.) Pepsi-Cola's sales are still...