Dive Brief:
- PepsiCo Inc. makes direct reference to its rival Coca-Cola Co. in a new marketing campaign, a tactic the company does not often employ.
- In the ads, PepsiCo pokes fun at two iconic Coca-Cola references, a polar bear and a name on the bottle.
- PepsiCo has not called out Coca-Cola specifically in its ads since 2011.
Dive Insight:
The rivals have come up with new products and marketing strategies to gain an edge over that time. Lately, PepsiCo has been making headway and closing the gap between it and Coca-Cola. Earlier this year, its Pepsi Cola snagged the No. 2 spot for leading U.S. soft drinks from Diet Coke.
Also, as soft drink sales decline, companies are looking for other additional sources of revenue, one of the fastest-growing of which is ready-to-drink tea. PepsiCo has cornered about 40% of the RTD tea market, so this is just one more area where PepsiCo is taking a stand.