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Pepsi is a 100-year-old carbonated soft drink brand loved by over 200 million people worldwide. The largest single selling soft drink brand in India, Pepsi is ubiquitous on just about every social occasion. In 1886, the US Caleb Bradman, a man with a plan formulated a blockbuster of a digestive drink and decided to call it Brad‟s drink. The potion was to become Pepsi Cola in 1898, and eventually, Pepsi in 1903.
Since its inception, Pepsi has always been at the forefront of the beverage industry and has come up with revolutionary concepts such as Diet Pepsi, 2l bottles, recyclable plastic cola bottles and the enviable My Can. The Pepsi My Can is undoubtedly the most popular cola pack of all time. It is not just a pack but a definitive style.
Soft drinks market whether on micro or macro scale, it is vast and full with great opportunities. It is one of the industries which are not adversely affected by the recession process. Demand for soft drink is still at large, which is resulting in the launch of new and more soft drink variants.
In current scenario, Pepsi faces stiff competiton from Coke and Thums Up which cater to the black carbonated soft drink segment. Pepsi has been an individual brand of PepsiCo while Thums Up was re-launched by Coca-Cola to compete against Pepsi. The individual branding style had enabled PepsiCo and Coca-Cola to be the market leaders in the carbonated soft drink industry. Brand extensions are facilitated with individual brands thereby giving the brands an opportunity to garner a strong hold on the market.
In 2010, soft drinks registered its highest off-trade value growth rate for the review period. Soft drinks players Coca-Cola and Pepsi were the leaders in overall soft drinks off-trade value sales in 2010.This growth was helped by high double-digit volume sales growth in most categories as well as appreciably higher unit prices in 2010.
Pepsi‟s core brand essence is the distinct flavour that resonates with the cosumers consistently over a long period of time and the spirit of energy incorporated in it. It is able to achieve customer satisfaction due to likability and trustworthiness associated with it. Pepsi has been always considered to be young and full of fun that has successfully attracted moments of truth from its consumers. The value proposition on offering is tasty and economical carbonated soft drink for every customer to attain refreshement. BRAND PERSONALITY: It is the weighted average of pervious impressions in consumer‟s mind which merge to form an overall concept. For Pepsi, the consumer perceives the personality to be youthful, spirited, freedom, sweet, sofisticated, uber cool and right choice. It helps to gain an in-depth understanding of consumer emotions and attitudes towards the brand with aid of attribute perceptions. Pepsi acts as a badge for consumer‟s personal statement.
BRAND IMAGERY: It is powerful driver of personality and act as a vehicle for representing and cueing functional benefits and brand attributes. Pepsi has been perceived as “for me” brand by most of the people. It has found usage in almost all the occasions like formal/informal, outdoor/indoor, party/family get-together, etc. Pepsi is favoured across all the demographic and geographic territories with a rich heritage and legacy behind its success.
In 1965, PepsiCo Inc. was founded by Donald M. Kendall, President and Chief Executive Officer of Pepsi-Cola and Herman W. Lay, Chairman and Chief Executive Officer of Frito-Lay, through the merger of the two companies.
Early campaigns for Pepsi-Cola emphasized price competition. Twelve ounce Pepsi bottles gave twice as much soft drink as six ounce standard Coca-Cola bottles, and Coca-Cola was by far the leading brand of soft drink....