PepsiCo's Mission and Vision Statement
PepsiCo's Mission and Vision Statement
OUR VISION
This reflects our ambition to win sustainably in the marketplace and accelerate our
top line growth, whilst keeping our commitment to do good for the planet and our
communities. It builds on decades of progress we’ve made since PepsiCo was
founded in 1965, while setting a firm foundation for a new era of growth and
prosperity. To help us achieve this vision, we’ve defined a new set of aspirations: to
become Faster, Stronger, and Better.
ABOUT THECOMPANY
In 1965, Donald Kendall, the CEO of Pepsi-Cola, and Herman Lay, the CEO of Frito-
Lay, recognized what they called “a marriage made in heaven,” a single company
delivering perfectly-salty snacks served alongside the best cola on earth. Their vision
led to what quickly became one of the world's leading food and beverage companies:
PepsiCo.
For more than 50 years, as tastes, trends and lifestyles have changed, PepsiCo has
evolved with them. Our willingness to adapt and grow has transformed our snack
and soda company into a collection of global brands including Pepsi and Quaker,
Gatorade and Tropicana, Frito-Lay and beyond. Today, PepsiCo is one of the
world’s most-respected companies with products sold in more than 200 countries
and territories and 22 brands that generate more than $1 billion each in estimated
annual retail sales.
PepsiCo is also celebrated for its commitment to doing business the right way,
integrating Purpose into our business strategy. In 2019, we adopted a new vision:
to Be the Global Leader in Convenient Foods and Beverages by Winning with
Purpose. Winning with Purpose is the next chapter in our purpose agenda and
conveys our belief that sustainability can be an even greater contributor to our
success in the marketplace.
Our company is made up of six divisions: PepsiCo Beverages North America; Frito-
Lay North America; Quaker Foods North America; Latin America; Europe Sub-
Saharan Africa; and Asia, Middle East and North Africa. Each of these divisions has
its own unique history and way of doing business.
OURGOALS
At PepsiCo, we believe that there is an opportunity to change how the world
produces, distributes, consumes and disposes of foods and beverages in order to
tackle the shared challenges we face.
We aim to use our scale, reach and expertise to help build a more sustainable food
system; one that can meet human needs for nutrition and enjoyment, and continue to
drive economic and social development, without exceeding the natural boundaries of
the planet.
PRODUCTINFORMATION
At PepsiCo, we aim to give consumers choices. Our full range of food and
beverages are designed to bring a smile to anyone’s face, anytime, anywhere. They
are available in over 200 countries and territories and tailored to meet the tastes and
preferences of our local consumers.
Discover more about our products, their nutrition information and where to buy:
Pepsi
Type Cola
Manufacturer PepsiCo
Pepsi Twist
Pepsi Lime
Crystal Pepsi
Caffeine-Free Pepsi
Pepsi Vanilla
Pepsi Next
RC Cola
Website [Link]
Pepsi is a carbonated soft drink manufactured by PepsiCo. Originally created and developed in
1893 by Caleb Bradham and introduced as Brad's Drink, it was renamed as Pepsi-Cola in
1898,[1] and then shortened to Pepsi in 1961.
Contents
1History
o 1.1Growth in popularity
o 1.2Marketing
2Sports sponsorships
3Ingredients
4Variants
o 4.1Fictional drinks
5See also
6References
7External links
History
Pepsi was first introduced as "Brad's Drink"[1] in New Bern, North Carolina, United States, in 1893
by Caleb Bradham, who made it at his drugstore where the drink was sold. It was renamed
Pepsi-Cola in 1898 after the Greek word for "digestion" (πέψη, pronounced the same as Pepsi),
which the drink was purported to aid, and "cola" after the kola nut. The original recipe also
included sugar and vanilla.[1] Bradham sought to create a fountain drink that was appealing and
would aid in digestion and boost energy.[1]
The original stylized Pepsi-Cola wordmark used from 1898 until 1905.
In 1903, Bradham moved the bottling of Pepsi-Cola from his drugstore to a rented warehouse.
That year, Bradham sold 7,968 gallons of syrup. The next year, Pepsi was sold in six-ounce
bottles, and sales increased to 19,848 gallons. In 1909, automobile race pioneer Barney
Oldfield was the first celebrity to endorse Pepsi-Cola, describing it as "A bully drink...refreshing,
invigorating, a fine bracer before a race." The advertising theme "Delicious and Healthful" was
then used over the next two decades.[2]
In 1923, the Pepsi-Cola Company entered bankruptcy—in large part due to financial losses
incurred by speculating on the wildly fluctuating sugar prices as a result of World War I. Assets
were sold and Roy C. Megargel bought the Pepsi trademark.[1] Megargel was unsuccessful in
efforts to find funding to revive the brand and soon Pepsi's assets were purchased by Charles
Guth, the president of Loft, Inc. Loft was a candy manufacturer with retail stores that contained
soda fountains. He sought to replace Coca-Cola at his stores' fountains after the Coca-Cola
Company refused to give him additional discounts on syrup. Guth then had Loft's chemists
reformulate the Pepsi-Cola syrup formula.[3]
On three separate occasions between 1922 and 1933, the Coca-Cola Company was offered the
opportunity to purchase the Pepsi-Cola company, and it declined on each occasion.[4]
Growth in popularity
During the Great Depression, Pepsi-Cola gained popularity following the introduction in 1934 of a
12-ounce bottle. Prior to that, Pepsi and Coca-Cola sold their drinks in 6.5-ounce servings for
about $0.05 a bottle. With a radio advertising campaign featuring the popular jingle "Nickel,
Nickel" – first recorded by the Tune Twisters in 1940 – Pepsi encouraged price-conscious
consumers to double the volume their nickels could purchase.[5][6] The jingle is arranged in a way
that loops, creating a never-ending tune:
"Pepsi-Cola hits the spot / Twelve full ounces, that's a lot / Twice as much for a nickel, too /
Pepsi-Cola is the drink for you."[7]
Coming at a time of economic crisis, the campaign succeeded in boosting Pepsi's status. From
1936 to 1938, Pepsi-Cola's profits doubled.[8]
The stylized Pepsi-Cola wordmark used from 1940 to 1950. It was reintroduced in 2014.
Pepsi's success under Guth came while the Loft Candy business was faltering. Since he had
initially used Loft's finances and facilities to establish the new Pepsi success, the near-bankrupt
Loft Company sued Guth for possession of the Pepsi-Cola company. A long legal battle, Guth v.
Loft, then ensued, with the case reaching the Delaware Supreme Court and ultimately ending in
a loss for Guth.
Marketing
The Pepsi logo used from 1973 to 1987. From 1987 to 1991, the logo was the same, but with the wordmark
in Handel Gothic.[9] This logo was used for Pepsi Throwback until 2014.
The Pepsi globe and wordmark used from 1992 to 2003. The wordmark has been separated from the
globe, italicized and made much larger (written vertically on cans) but is still in Handel Gothic.
The three-dimensional Pepsi globe and wordmark used from 2003 to late 2008, based on the 1992 version.
The Pepsi logo used from 2008 to 2014. The Pepsi globe is now two-dimensional again, and the red, white,
and blue design has been changed to look like a smile.
From the 1930s through the late 1950s, "Pepsi-Cola Hits The Spot" was the most commonly
used slogan in the days of old radio, classic motion pictures, and later television. Its jingle
(conceived in the days when Pepsi cost only five cents) was used in many different forms with
different lyrics. With the rise of radio, Pepsi utilized the services of a young, up-and-coming
actress named Polly Bergen to promote products, oftentimes lending her singing talents to the
classic "...Hits The Spot" jingle.
Film actress Joan Crawford, after marrying Pepsi-Cola president Alfred N. Steele became a
spokesperson for Pepsi, appearing in commercials, television specials, and televised beauty
pageants on behalf of the company. Crawford also had images of the soft drink placed
prominently in several of her later films. When Steele died in 1959, Crawford was appointed to
the Board of Directors of Pepsi-Cola, a position she held until 1973, although she was not a
board member of the larger PepsiCo, created in 1965.[10]
Pepsi has been featured in several films, including Back to the Future (1985), Home
Alone (1990), Wayne's World (1992), Fight Club (1999), and World War Z (2013).[11][12]
In 1996, PepsiCo launched the highly successful Pepsi Stuff marketing strategy. "Project Blue"
was launched in several international markets outside the United States in April. The launch
included extravagant publicity stunts, such as a Concorde aeroplane painted in blue colors
(which was owned by Air France) and a banner on the Mir space station.
The Project Blue design arrived in the United States test marketed in June 1997, and finally
released in 1998 worldwide to celebrate Pepsi's 100th anniversary. It was at this point the logo
began to be referred to as the Pepsi Globe.
In October 2008, Pepsi announced that it would be redesigning its logo and re-branding many of
its products by early 2009. In 2009, Pepsi, Diet Pepsi, and Pepsi Max began using all lower-case
fonts for name brands. The brand's blue and red globe trademark became a series of "smiles",
with the central white band arcing at different angles depending on the product until 2010. Pepsi
released this logo in U.S. in late 2008, and later it was released in 2009 in Canada (the first
country outside of the United States for Pepsi's new logo), Brazil, Bolivia, Guatemala, Nicaragua,
Honduras, El Salvador, Colombia, Argentina, Puerto Rico, Costa Rica, Panama, Chile,
Dominican Republic, the Philippines, and Australia. In the rest of the world, the new logo was
released in 2010. The old logo is still used in several international markets, and has been phased
out most recently in France and Mexico.
Niche marketing
Walter Mack was named the new president of Pepsi-Cola and guided the company through the
1940s. Mack, who supported progressive causes, noticed that the company's strategy of using
advertising for a general audience either ignored African Americans or used ethnic stereotypes in
portraying blacks. Up until the 1940s, the full revenue potential of what was called "the Negro
market" was largely ignored by white-owned manufacturers in the U.S.[13] Mack realized that
blacks were an untapped niche market and that Pepsi stood to gain market share by targeting its
advertising directly towards them.[14] To this end, he hired Hennan Smith, an advertising
executive "from the Negro newspaper field"[15] to lead an all-black sales team, which had to be cut
due to the onset of World War II.
A 1940s advertisement specifically targeting African Americans, an untapped niche market that was largely
ignored by white-owned manufacturers in the U.S. A young Ron Brown is the boy reaching for a bottle.
In 1947, Walter Mack resumed his efforts, hiring Edward F. Boyd to lead a twelve-man team.
They came up with advertising portraying black Americans in a positive light, such as one with a
smiling mother holding a six pack of Pepsi while her son (a young Ron Brown, who grew up to
be Secretary of Commerce)[16] reaches up for one. Another ad campaign, titled "Leaders in Their
Fields", profiled twenty prominent African Americans such as Nobel Peace Prize winner Ralph
Bunche and photographer Gordon Parks.
Boyd also led a sales team composed entirely of blacks around the country to promote
Pepsi. Racial segregation and Jim Crow laws were still in place throughout much of the U.S.;
Boyd's team faced a great deal of discrimination as a result,[15] from insults by Pepsi co-workers
to threats by the Ku Klux Klan.[16] On the other hand, it was able to use its anti-racism stance as a
selling point, attacking Coke's reluctance to hire blacks and support by the chairman of the Coca-
Cola Company for segregationist governor of Georgia Herman Talmadge.[14] As a result, Pepsi's
market share as compared to Coca-Cola's shot up dramatically in the 1950s with African
American soft-drink consumers three times more likely to purchase Pepsi over Coke.[17] After the
sales team visited Chicago, Pepsi's share in the city overtook that of Coke for the first time.[14]
Journalist Stephanie Capparell interviewed six men who were on the team in the late 1940s. The
team members had a grueling schedule, working seven days a week, morning and night, for
weeks on end. They visited bottlers, churches, ladies groups, schools, college campuses,
YMCAs, community centers, insurance conventions, teacher and doctor conferences, and
various civic organizations. They got famous jazzmen such as Duke Ellington and Lionel
Hampton to promote Pepsi from the stage. No group was too small or too large to target for a
promotion.[18]
Pepsi advertisements avoided the stereotypical images common in the major media that
depicted Aunt Jemimas and Uncle Bens, whose role was to draw a smile from white customers.
Instead, it portrayed black customers as self-confident middle-class citizens who showed very
good taste in their soft drinks. They were economical too, as Pepsi bottles were twice the size.[19]
This focus on the market for black people caused some consternation within the company and
among its affiliates. It did not want to seem focused on black customers for fear white customers
would be pushed away.[14] In a national meeting, Mack tried to assuage the 500 bottlers in
attendance by pandering to them, saying "We don't want it to become known as a nigger
drink."[20] After Mack left the company in 1950, support for the black sales team faded and it was
cut.[13]
Rivalry with Coca-Cola
Main article: Cola Wars
According to Consumer Reports, in the 1970s, the rivalry continued to heat up the market. Pepsi
conducted blind taste tests in stores, in what was called the "Pepsi Challenge". These tests
suggested that more consumers preferred the taste of Pepsi to Coca-Cola. The sales of Pepsi
started to climb, and Pepsi kicked off the "Challenge" across the nation. This became known as
the "Cola Wars".
In 1985, the Coca-Cola Company, amid much publicity, changed its formula. The theory has
been advanced that New Coke, as the reformulated drink came to be known, was invented
specifically in response to the Pepsi Challenge. However, a consumer backlash led to Coca-Cola
quickly reintroducing the original formula as "Coca-Cola Classic".
In 1989, Billy Joel mentioned the rivalry between the two companies in the song "We Didn't Start
the Fire". The line "Rock & Roller Cola Wars" refers to Pepsi and Coke's usage of various
musicians in advertising campaigns. Coke used Paula Abdul, while Pepsi used Michael Jackson.
Both companies then competed to get other musicians to advertise its beverages.
According to Beverage Digest's 2008 report on carbonated soft drinks, PepsiCo's U.S. market
share is 30.8 percent, while the Coca-Cola Company's is 42.7 percent.[21] Coca-Cola outsells
Pepsi in most parts of the U.S., notable exceptions being central Appalachia, North Dakota,
and Utah. In the city of Buffalo, New York, Pepsi outsells Coca-Cola by a two-to-one margin.[22]
Overall, Coca-Cola continues to outsell Pepsi in almost all areas of the world. However,
exceptions include: Oman, India, Saudi Arabia, Pakistan, the Dominican Republic, Guatemala,
the Canadian provinces of Quebec, Newfoundland and Labrador, Nova Scotia, and Prince
Edward Island, and Northern Ontario.[23]
Pepsi had long been the drink of French-Canadians, and it continues to hold its dominance by
relying on local Québécois celebrities (especially Claude Meunier, of La Petite Vie fame) to sell
its product.[24] PepsiCo introduced the Quebec slogan "here, it's Pepsi" (Ici, c'est Pepsi) in
response to Coca-Cola ads proclaiming "Around the world, it's Coke" (Partout dans le monde,
c'est Coke).
As of 2012, Pepsi is the third most popular carbonated drink in India, with a 15% market share,
behind Sprite and Thums Up. In comparison, Coca-Cola is the fourth most popular carbonated
drink, occupying a mere 8.8% of the Indian market share.[25] By most accounts, Coca-Cola was
India's leading soft drink until 1977, when it left India because of the new foreign exchange laws
which mandated majority shareholding in companies to be held by Indian shareholders. The
Coca-Cola Company was unwilling to dilute its stake in its Indian unit as required by the Foreign
Exchange Regulation Act (FERA), thus sharing its formula with an entity in which it did not have
majority shareholding. In 1988, PepsiCo gained entry to India by creating a joint venture with the
Punjab government-owned Punjab Agro Industrial Corporation (PAIC) and Voltas India Limited.
This joint venture marketed and sold Lehar Pepsi until 1991, when the use of foreign brands was
allowed; PepsiCo bought out its partners and ended the joint venture in 1994. In 1993, the Coca-
Cola Company returned in pursuance of India's Liberalization policy.[26]
In Russia, Pepsi initially had a larger market share than Coke, but it was undercut once the Cold
War ended. In 1972, PepsiCo struck a barter agreement with the then government of the Soviet
Union, in which PepsiCo was granted exportation and Western marketing rights
to Stolichnaya vodka in exchange for importation and Soviet marketing of Pepsi.[27][28] This
exchange led to Pepsi being the first foreign product sanctioned for sale in the Soviet Union.[29]
Reminiscent of the way that Coca-Cola became a cultural icon and its global spread spawned
words like "cocacolonization", Pepsi-Cola and its relation to the Soviet system turned it into an
icon. In the early 1990s, the term "Pepsi-stroika" began appearing as a pun on "perestroika", the
reform policy of the Soviet Union under Mikhail Gorbachev. Critics viewed the policy as an
attempt to usher in Western products in deals there with the old elites. Pepsi, as one of the first
American products in the Soviet Union, became a symbol of that relationship and the Soviet
policy. This was reflected in Russian author Victor Pelevin's book "Generation P".
In 1992, following the dissolution of the Soviet Union, Coca-Cola was introduced to the Russian
market. As it came to be associated with the new system and Pepsi to the old, Coca-Cola rapidly
captured a significant market share that might otherwise have required years to achieve. By July
2005, Coca-Cola enjoyed a market share of 19.4 percent, followed by Pepsi with 13 percent.[30]
Pepsi was introduced in Romania in 1966, during the early liberalization policies of Nicolae
Ceaușescu, opening up a factory at Constanța in 1967. This was done as a barter agreement
similar to the one in the USSR, however, Romanian wine would be sold in the United States
instead. The product quickly became popular, especially among young people, but due to the
austerity measures imposed in the 1980s, the product became scarce and rare to find. Starting
from 1991, PepsiCo entered the new Romanian market economy, and still maintains a bigger
popularity than its competitor, Coca-Cola, introduced in Romania in 1992, despite heavy
competition during the 1990s (sometime between 2000 and 2005, Pepsi overtook Coca-Cola in
sales in Romania).[31]
Pepsi did not sell soft drinks in Israel until 1991. Many Israelis and some American Jewish
organizations attributed Pepsi's previous reluctance to expand operations in Israel to fears of an
Arab boycott. Pepsi, which has a large and lucrative business in the Arab world, denied that,
saying that economic, rather than political, reasons kept it out of Israel.[32]
Pepsiman
Pepsiman is an official Pepsi mascot from Pepsi's Japanese corporate branch, created sometime
around the mid-1990s. Pepsiman took on three different outfits, each one representing the
current style of the Pepsi can in distribution. Twelve commercials were created featuring the
character. His role in the advertisements is to appear with Pepsi to thirsty people or people
craving soda. Pepsiman happens to appear at just the right time with the product. After delivering
the beverage, sometimes Pepsiman would encounter a difficult and action-oriented situation
which would result in injury. Another more minor mascot, Pepsiwoman, also featured in a few of
her own commercials for Pepsi Twist; her appearance is basically a female Pepsiman wearing a
lemon-shaped balaclava.[33]
In 1996, Sega-AM2 released the Sega Saturn version of its arcade fighting game Fighting Vipers.
In this game Pepsiman was included as a special character, with his specialty listed as being the
ability to "quench one's thirst". He does not appear in any other version or sequel. In
1999, KID developed a video game for the PlayStation entitled Pepsiman. As the titular
character, the player runs "on rails" (forced motion on a scrolling linear path), skateboards, rolls,
and stumbles through various areas, avoiding dangers and collecting cans of Pepsi, all while
trying to reach a thirsty person as in the commercials.[34][35][36]
Sports sponsorships
Pepsi has official sponsorship deals with the National Football League, National Hockey League,
and National Basketball Association. It was the sponsor of Major League Soccer until December
2015 and Major League Baseball until April 2017, both leagues signing deals with Coca-
Cola.[37][38] Pepsi also has the naming rights to the Pepsi Center, an indoor sports facility
in Denver, Colorado. In 1997, after his sponsorship with Coca-Cola ended,
retired NASCAR Sprint Cup Series driver turned Fox NASCAR announcer Jeff Gordon signed a
long-term contract with Pepsi, and he drives with the Pepsi logos on his car with various paint
schemes for about 2 races each year, usually a darker paint scheme during nighttime races.
Pepsi has remained as one of his sponsors ever since. Pepsi has also sponsored the NFL
Rookie of the Year award since 2002.[39]
Pepsi also has sponsorship deals in international cricket teams. The Pakistani national cricket
team is one of the teams that the brand sponsors. The team wears the Pepsi logo on the front of
their test and ODI test match clothing.
The Buffalo Bisons, an American Hockey League team, were sponsored by Pepsi-Cola in its
later years; the team adopted the beverage's red, white, and blue color scheme along with a
modification of the Pepsi logo (with the word "Buffalo" in place of the Pepsi-Cola wordmark). The
Bisons ceased operations in 1970, making way for the Buffalo Sabres of the NHL.
Ingredients
Nutrition facts
% Daily value*
Total fat 0 g 0%
Saturated fat 0 g 0%
Trans fat 0 g
Cholesterol 0 mg 0%
Sodium 15 mg 1%
Potassium 0 mg 0%
Total carbohydrate 41 g 14%
Dietary fiber 0 g 0%
Sugars 41 g
Protein 0 g
Vitamin A 0% Vitamin C 0%
Calcium 0% Iron 0%
In the United States, Pepsi is made with carbonated water, high fructose corn syrup, caramel
color, sugar, phosphoric acid, caffeine, citric acid, and natural flavors. A can of Pepsi (12 fl
ounces) has 41 grams of carbohydrates (all from sugars), 30 mg of sodium, 0 grams of fat,
0 grams of protein, 38 mg of caffeine, and 150 calories.[41][42] Pepsi has 10 more calories and 2
more grams of sugar and carbohydrates than Coca-Cola. Caffeine-Free Pepsi contains the same
ingredients but without the caffeine.
Variants
Main article: List of Pepsi variations
Fictional drinks
See also
United States portal
Drink portal
Companies portal
Pepsi spokespeople
Pepsi Max Big One (roller coaster)
Pepsi Orange Streak (roller coaster)
Pepsi Python (roller coaster)
Pepsi Billion Dollar Sweepstakes
Mountain Dew
AMP Energy
Citrus Blast
References
Notes
External links
Wikimedia Commons has
media related to PepsiCo.
Official website
Pepsi Gallery – Pepsi Promotional site at the Wayback
Machine (archived January 15, 2007)
Official Pepsi page on PepsiCo UK & Ireland
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Categories:
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Products introduced in 1898
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1893 establishments in the United States
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The Pepsi logo used from 1973 to 1987. From 1987 to 1991, the logo was the same, but with the
wordmark in Handel Gothic.[9] This logo was used for Pepsi Throwback until 2014
The Pepsi globe and wordmark used from 1992 to 2003. The wordmark has been separated from
the globe, italicized and made much larger (written vertically on cans) but is still in Handel Gothic.
The three-dimensional Pepsi globe and wordmark used from 2003 to late 2008, based on the 1992
version.
The Pepsi logo used from 2008 to 2014. The Pepsi globe is now two-dimensional again, and the
red, white, and blue design has been changed to look like a smile
Post the devastation brought by the floods in Chennai in 2015, PepsiCo Foundation, in
association with Smile Foundation, provided 1.4 Million litres of Aquafina water and
38000kgs of Quaker oats to 566900 people.
Name PepsiCo Inc.
Logo
Geographic
Worldwide (more than 200 countries)
areas served
PepsiCo has dozens of products under their belt. You can buy
these products here in the United States or venture across the world
and grab a bottle in Japan. So, anyone who hasn’t heard of the
PepsiCo brand has likely been living under a rock.
This SWOT analysis of PepsiCo examines what the company does well,
what it’s falling behind on, and what this will mean for the brand.
Pepsi
Lays
7UP
Quaker
Lipton
Tropicana
Although the brands are part of the food industry, no other company
offers as much versatility as PepsiCo’s. Customers can get a little of
everything. And that leads PepsiCo to easily satisfy consumer needs.
Why bother going anywhere else when you can find nearly any
beverage or snack under PepsiCo’s umbrella?
If you don’t want Pepsi, you can reach for 7UP. If you want something
sweeter, reach for Lipton. Want a crunchy snack? You have Lays. But
if you want something healthier, sub in Quaker products.
Brand recognition.
And since PepsiCo owns some of the most popular food, beverage, and
snack brands, it’s transformed into a globally recognizable
brand. Each brand is worth millions to billions of dollars. And they fall
under PepsiCo, pushing the company’s net worth into the billions.
Endorsements and sponsorships.
PepsiCo also uses brand endorsements to push their products. The
company is strongly tied to music concerts and sporting events. Major
sports teams are currently sponsored with Pepsi products. This makes
it easier for PepsiCo to reach younger audiences, which also happen to
be PepsiCo’s target market.
Failed products.
You also can’t reach the size and revenue of PepsiCo without a few
failed products along the way. If those failed products harm the
company’s brand image, then there’s a problem. This is exactly what
happened with the Crystal Pepsi product.
A bad economy.
The economy and the possibility of recessions will always be a threat
to PepsiCo. When the economy dips, people are more likely to save
their dollars for necessary purchases. Unfortunately for PepsiCo, most
(if not all) of their products fall into the “not necessary” label. And
since PepsiCo hasn’t branched out of the beverage and food
industries, there’s little they can do in this situation.