Word: pepsi
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Dates: during 1990-1999
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...Enrico the old cola warrior is rewriting the rules of engagement. When you see Pepsi advertising on the air, it will still be in Coke's face, although perhaps not as relentlessly as before. Take its "Joy of Cola" campaign, in which the cherubic Hallie Eisenberg lip-synchs voice-overs from celebrities--including Marlon Brando as Don Corleone--to demand Pepsi over you-know-what. Yet it's a much broader, less edgy approach than the company's Generation Next theme, whose message excluded much of the audience. The company has also launched a new beverage, Pepsi One, to keep...
...many respects Pepsi is getting real about what it can accomplish. On the ground, the goal is to be in your face, not Coke's, and steadily increase Pepsi's presence by gaining a restaurant account here, an extra foot of shelf space there. For Pepsi, a company whose culture has always thrived on big-idea, renegade thinking, this is much humbler stuff. But, asks Marineau, "how do you become a Pepsi loyalist...
...sweeping reorganization. In the past two years, he has pulled PepsiCo out of the restaurant business, jettisoning fast-food chains, including Pizza Hut, Taco Bell and Kentucky Fried Chicken, which had combined sales of $11 billion. The profits were tasty, but the capital required to build restaurants was giving Pepsi heartburn. Last month the company spun off its main $7 billion bottling operation into an independent public company, something Coke did years ago to create Coca-Cola Enterprises. The soda business actually has two components, the first of which, making and marketing cola concentrate, is very profitable. Mixing that concentrate...
...spin-off will leave Pepsi's concentrate and bottling setup looking a lot more like Coke's. "It's a better mousetrap," Enrico concedes with a grin. "And there's no pride in this, so why not do it ourselves?" To add to his new mix, Enrico last August spent $3.3 billion on America's leading premium juicemaker, Tropicana. Last year PepsiCo had total sales of $22.3 billion...
Enrico's revolution has already put Pepsi in a position where it can hurt Coke. For the first time in years, the Big Red growth machine is double-clutching, feeling the dark side of globalization in places like Brazil, its third largest market, where the recent devaluation hurt business severely. Coke's sales are also weak across Asia, and the company's huge investment in Russia is underwater. Pepsi needs to make a dent in Coke away from home, because the Atlantans derive most of their profits outside the U.S., where Coke outsells Pepsi...