Marketing Plan for PepsiCo Bottling, Inc - Case Study Example

PepsiCo Bottling, Inc Table of Contents Table of Contents 1 2.0 Company Introduction 5 2.1 Mission Statement 6 3.0 Industry Analyses 6 3.1 SWOT Analysis 6 3.1.1 Strengths 6 3.1.2 Weaknesses 7 The company’s opportunities are associated with new investments and expansions. Despite the mentioned strengths, PepsiCo has some other internal challenges within its processes. In the USA, the company is overly dependent Wal-Mart in it sales. The Wal-Mart is the company largest customer contributing at least 12% of the total PepsiCo net revenues. For this reason, Moraru reports (p. 18, 2010) that PepsiCo’s profitability is pegged to the business strategy used by the Wal-Mart stores and more precisely its arrangement to privately rebrand the products as own and this widening the profit margin than ordinary national brands. On another front, the Store’s low price themes forces PepsiCo to hold its prices down. 7 A similar threat if founded on the company’s high dependency on the US Markets. Although PepsiCo is internationally represented in sales, over 52% of its revenues are generated from the US sales. The skewed distribution exposes PepsiCo to vulnerabilities arising from the dynamic economic conditions consumer preferences, composition of the market demographics, and labor strikes. In addition, employee efficiency is another weakness to the company. Unlike its competitors, there is low productivity among the company staff with its average-revenue per employee less than those of its competitors and industry average are. 7 The company’s reputation has not been commendable since it recall of some of its products in 2008. The salmonella contamination put pressure on PepsiCo to rectal from the shelves Aunt Jemima pancake and waffle mix. A similar occurrence in 2007 ensued during the exploding Diet Pepsi cans. These incidences has damaged the image of the PepsiCo brands and eventually resulting in decline in sales (Interbrand, 2010). 8 3.1.3 Opportunities 8 Externally, PepsiCo is operating in an environment with several opportunities. Its entry into the Russian and United Kingdom market through acquisition Lebedyansky, and V Wwater respectively in the United Kingdom gives the company an opportunity to address the dependency of the US markets. These are also opportunities to expand the product portfolio with introduction of Unilever teas and snack businesses. Inline with the strategy are opportunities associated with the company’s international expansion. PepsiCo’s arrangements to enter China and India are at advanced stages. These are part of the strategies to mitigate the company against the risk of depending solely on US sales (Gottlieb 2010 p. 83). 8 The growing snack and bottled water markets in the US and the rest of the worlds presents PepsiCo with an opportunity in water bottling market which economists have predicted to value over $24 million by 2012. 8 3.1.4 Threats 9 One of the major threats to the company is the general decline in consumption of the carbonated drinks globally. It estimated that the carbonated soft drinks would shrink by approximately 3% by 2012 in value and sales. All though PepsiCo has diversified, the impact cannot be ignored. The intense competition from the giant monopoly Coca-Cola threatens the survival of PepsiCo soft drinks brands. The entry of Coca-Cola into juice and bottled water has even taken competition to another level. Other rivals in the snack markets with stiff competition in the industry include nestle and Kraft Foods. 9 The company’s predictable labor unrests pose another threat. Since 2008, when the company’s India workers strike forcing the operations suspension for 2 months, the company has always been vulnerable to labor unrests. In addition, the ever-changing government regulations would affect the company’s operations tremendously. Taxation, healthy, environmental and safety policies will have negative impact at PepsiCo whenever they are tightened (Haig, 2003 pp. 42-44). 9 3.2 Reasons for product brands decline 9 4.0 Target market 10 5.0 Marketing position 11 5.1 Product marketing mix 11 5.1.1 Product 11 5.1.2 Price 12 5.1.3 Place 13 5.1.4 Promotion 14 5.2 Distribution channels 16 6.0 Measurements of success factors 16 7.0 Conclusion 17 8.0 Appendices: Marketing plan financials: 18 9.0 References 20 1.0 Executive summary The ever-changing systems in the corporate brands of most modern organizations are highly complex. With extreme competitive environments, companies need to match their operations and objectives to incompatible goals. The ever changing social, economic, political, legal environment brings another set of challenges that the businesses have to confront. Businesses are operating in turbulent environments presenting companies with inconsistent directions and divergent interests. Organizations have used tactful management techniques that continuously improve quality and productivity in order to counter these challenges and prevent their brands from sinking (Keller, 1999 pp. 112-114). Since the predetermined goals keep shifting, the process of executing, guiding or coordinating any goal-oriented programs, requires constant evaluation. The management while reviewing the effectiveness of the promotional strategies, keeps the organization vibrant and in balance towards achieving the predetermined goals and objectives. However the changing dynamics in the market, complicates the situations furthers. To counter these challenges, knowledge of the market plays very vital roles in salvaging the brands. Market research therefore plays a significant role in gaining more information and knowledge about the market. The process of market research evaluates the distribution systems and the customer behavior towards specific brands. Moraru (2010 p. 50) reported that PepsiCo is one the companies that has been confronting declining products. In February 2010, PepsiCo successfully completed its merger with the Pepsi Bottling Group and PepsiAmericas, enhancing the Pepsico’s operations and beverage businesses in the United States, Canada, and Mexico. The new company born out of the merger is Pepsi Beverage Company, (PBG) which produces and distributes a broad variety of bottled drinks worldwide. It is estimated that at least three quarter of the company revenues account for sales from Canada and the United States. When the merger was completed, arrangements of the merger allowed PepsiCo to own up to eighty percent of the North American bottled drink distribution centers, thus making PepsiCo to be one of the largest international food and beverage corporations. The merger transaction made it possible for the new Pepsi Bottling Group to increase efficiency by not only cutting on costs, but also increasing profitability, and innovations. The company is quickly introducing new product into the market. Back in 2008, Pepsi Bottling Group extended its operations acquiring the assets of JSC Lebedyansky, which has been the market leader the Russian Juice production industry a cost of 1.1 billion dollars. The buyout transaction leveraged the Pepsi Bottling Group by a quarter of its international bottling business. The Pepsi Bottling Group acquisition of the Better Beverages and the Ab-Tex beverage gave PBG exclusive rights to manage and sell their bottled beverages domestically and internationally across and within Spain, Turkey, Russia, Greece, and Canada (Reuters, New York Times 2009). According to Adage Brand Trackers, the despite the merger resulting in the birth of PBG, there brand has generally been declining since 2007. The Beverage Digest reported that sales in Pepsi soft drinks dropped 5.5 percent in 2009 falling below the 1 billion cases experienced in 2008 for the first time in decades. Earlier in February 2009, New York Times reported a similar decrease of 43 % in March 2008 and shed 46 % of its market share. For this reason, it is evident that the brand is declining. This paper provides a marketing plan for the declining PepsiCo brands in the markets. Using internal and external analyses to understand favorable and unfavorable factors, the marketing mix strategy is proposed as one of the methods to apply in the marketing plan. The main objective is to reposition the product in the market. 2.0 Company Introduction Caleb Bradham, the pharmacist who invented the carbonated drink, founded PepsiCo in 1904 as Pepsi-Cola. By 1910, at least three hundred bottlers were operating in the United States. Due to the 1920s skyrocketing sugar prices, the company collapsed in 1923. Charles Guth who incorporated the company to his Loft Candy Company resuscitated it in 1931. The new management and owners revived the company and doubled bottle size and selling the same five cent. From large volumes of sales and economies of scale, the company’s profitability revived with returns increasing drastically. Shortly after, the company was sourcing for new bottlers to join and franchise the PepsiCo growing brand (Hoover’s Online, 2010). By 1960, PepsiCo’s efficiency and market value had nearly doubled. Its production capacity has hit the limit and demand had suddenly shot forcing company was forced to build new production plants. To meet the increasing demand of cola produces, plastic bottling was introduced in the 1970’s further increasing productivity. In the 1980s, PepsiCo concentrated its expansion efforts on increasing its distribution channels. In these efforts, the company had increased its franchises to a total of eighty at the close of the eighties. Despite this achievement, its rival Coca-Cola in 1985 amid much publicity locally and abroad, began to take control of the soft drinks industry. The results were tremendous and the PepsiCo began to experience the severity of competition in the industry. Sales began to stagnate with no change in volumes and revenues (PepsiCo 2005 pp 13-14). PepsiCo began to pursue the international markets and the slowing growth with the international markets earning less than 10% in profits. The company in 1997 began to consolidate all its bottling plants under one management and divided its operations to serve various bottling and market divisions. Despite the company’s successful entry into foreign markets, it has had numerous ch Moraru, M 2010llenges positioning its product in the market. 2.1 Mission Statement “To be the world’s premier consumer products company focused on convenient foods and beverages. We seek to produce healthy financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity.” (Hoover’s Online, 2010) 3.0 Industry Analyses 3.1 SWOT Analysis 3.1.1 Strengths One of the key strengths of the PepsiCo is its branding, which according to Inter-Brand makes it one of the top and most recognized in the world. The 2008 Inter-Brand ranking, places the PepsiCo brand placed it at position 26 amongst top 100 best global brands. This make the company able to generates over $15,000 million of annual sales of its brands such as Diet Pepsi, Gatorade Mountain Dew, Thirst Quencher, amongst others. The presence of these brands in over 200 countries enhances the strengths of the brands even further. The company owns a significant portion of beverage and snack food markets with 39% US beverage and 25% snack food markets. Given such amount of dominance, the company is assured of considerable loyalty and repetitive in the short-term future (Interbrand, 2008). The wide range of product portfolio is source of strengths of the PepsiCo brands. With over 18 brands, PepsiCo’s diversification is able to generate over $1,000 million annual sales. The strategic diversification PepsiCo’s brands into soft drinks, ready-to-drink teas, juice drinks, bottled water, as well as breakfast cereals, cakes and cake mixes give PepsiCo a broad product base and a multi-channel distribution structure that serve to mitigate PepsiCo from the ever unpredictable business climates. PepsiCo’s strategy to make direct deliveries from manufacturing plants to the customers’ outlets and go-downs hence its loyalty among the wholesalers, retailer and other dealers in the distribution system. 3.1.2 Weaknesses The company’s opportunities are associated with new investments and expansions. Despite the mentioned strengths, PepsiCo has some other internal challenges within its processes. In the USA, the company is overly dependent Wal-Mart in it sales. The Wal-Mart is the company largest customer contributing at least 12% of the total PepsiCo net revenues. For this reason, Moraru reports (p. 18, 2010) that PepsiCo’s profitability is pegged to the business strategy used by the Wal-Mart stores and more precisely its arrangement to privately rebrand the products as own and this widening the profit margin than ordinary national brands. On another front, the Store’s low price themes forces PepsiCo to hold its prices down. A similar threat if founded on the company’s high dependency on the US Markets. Although PepsiCo is internationally represented in sales, over 52% of its revenues are generated from the US sales. The skewed distribution exposes PepsiCo to vulnerabilities arising from the dynamic economic conditions consumer preferences, composition of the market demographics, and labor strikes. In addition, employee efficiency is another weakness to the company. Unlike its competitors, there is low productivity among the company staff with its average-revenue per employee less than those of its competitors and industry average are. The company’s reputation has not been commendable since it recall of some of its products in 2008. The salmonella contamination put pressure on PepsiCo to rectal from the shelves Aunt Jemima pancake and waffle mix. A similar occurrence in 2007 ensued during the exploding Diet Pepsi cans. These incidences has damaged the image of the PepsiCo brands and eventually resulting in decline in sales (Interbrand, 2010). 3.1.3 Opportunities Externally, PepsiCo is operating in an environment with several opportunities. Its entry into the Russian and United Kingdom market through acquisition Lebedyansky, and V Wwater respectively in the United Kingdom gives the company an opportunity to address the dependency of the US markets. These are also opportunities to expand the product portfolio with introduction of Unilever teas and snack businesses. Inline with the strategy are opportunities associated with the company’s international expansion. PepsiCo’s arrangements to enter China and India are at advanced stages. These are part of the strategies to mitigate the company against the risk of depending solely on US sales (Gottlieb 2010 p. 83). The growing snack and bottled water markets in the US and the rest of the worlds presents PepsiCo with an opportunity in water bottling market which economists have predicted to value over $24 million by 2012. 3.1.4 Threats One of the major threats to the company is the general decline in consumption of the carbonated drinks globally. It estimated that the carbonated soft drinks would shrink by approximately 3% by 2012 in value and sales. All though PepsiCo has diversified, the impact cannot be ignored. The intense competition from the giant monopoly Coca-Cola threatens the survival of PepsiCo soft drinks brands. The entry of Coca-Cola into juice and bottled water has even taken competition to another level. Other rivals in the snack markets with stiff competition in the industry include nestle and Kraft Foods. The company’s predictable labor unrests pose another threat. Since 2008, when the company’s India workers strike forcing the operations suspension for 2 months, the company has always been vulnerable to labor unrests. In addition, the ever-changing government regulations would affect the company’s operations tremendously. Taxation, healthy, environmental and safety policies will have negative impact at PepsiCo whenever they are tightened (Haig, 2003 pp. 42-44). 3.2 Reasons for product brands decline From the SWOT evaluation, the reasons for PepsiCo declining sales can easily be explained. The stiff competition in the market is one them main reason that explain the prevailing declining sales. The direct oligopolistic competition in which Coca Cola dominates the soft drinks markets has killed the growth of PepsiCo in other markets. Aaker, (1996 pp. 105) Product differentiation and position is another great weakness that has failed the positioning strategies of the company. Unlike it rival competitors Coca-Cola; the company has had difficulty in differentiate it product in terms of taste. Product variety is very limited within cola based beverages. This has become competitive disadvantage since Coca-Cola has capitalized on this to build a strong customer loyalty base identifying themselves with the brands. The other reason that account for the Pepsi brand decline is the recent health concern regarding carbonated soft drinks. While this hit the entire industry, Pepsi seems to have suffered the most owing to its fragility in the market. According to Gottlieb (pp. 91 2010), consumer tastes are changing and drifting away from carbonated drinks toward functional soft drinks like juices. This is the result of health food campaigns. The dependence in the US market is another potential reason to justify the declining sales. Unlike Coca-Cola, which has string consumer following globally, until recently, PepsiCo has been relying in US market for its sales. 4.0 Target market Target market is the consumers or the potential customers to the company who are able and willing to purchase and use the company’s products. Pepsi Company targets all countries in the whole world to compete favorably with other companies offering substitute products such as Coca Cola Company. The company produces high quality products that fit all the customers worldwide. The target market or customers include all people irrespective of their race, gender, age, ethnic group, religion, nationality, status, or community. The company’s target market has been wider due variety of products that fits its customers in all market segments. Due to its diverse products, they can be classified in many categories depending on each target market needs. The Company has been able to gain competitive advantage because of its products that meets each group’s needs and wants. Sales and marketing professionals understand what the people want after conducting market analyses choose target markets carefully (Dhar et al 2005). 5.0 Marketing position Positioning in marketing is where marketers try to create and brand an image, reputation, or identity in the target market minds for its brand, services, products, country, or organization. Pepsi Company has been crucial in the beverage industry because it is driving the economy of many countries in the world especially in United States of America, Turkey and other countries globally by creating employment opportunities and earning the country foreign income. Pepsi Company beverage is the largest foreign earner in many countries especially in Europe, Africa, Asia, and United States of America; but there is bottleneck competition from its major competitor – Coca Cola Company. Even though there is much competition, the company has position itself strategically to outperform its competitors. Moraru (2010 p. 60) affirms that the company has been able to understand what the customers need in all the existing and target markets based on the comprehensive market research conducted. The products are tailor made to counteract the competition and to maintain the customers. The Pepsi Company has segmented its market according to geographic regions, population density, climatic conditions, and class or ones status. 5.1 Product marketing mix The company has been able to utilize the four P’s in marketing mix for its advantage and success of the company. The four P’s are product, price, place, and promotion. The four P’s have been the pillars in marketing the company’s beverage products that is being threatened by Coca Cola Company that is targeting Pepsi Company markets. This is a marketing strategy the company is capitalizing to outperform its rivals in the industry. 5.1.1 Product Products can be either tangible object or intangible services such as hotel and tourism industry that manufacture is or produce in large quantities or units. Pepsi Company is a multinational company that produces its products in large quantities in order to be sufficient in all its target markets. This will ensure reliability and consistency in product distribution and availability. Packaging and branding must be considered because every product is subject to product life cycle. The product life cycle includes initial or introduction stage, growth phase and eventual product decline as it approaches market saturation over a period. For the company’s products to remain competitive and to gain competitive advantage in the market, product differentiation and branding must be done. This is a marketing strategy of diffentiating its products from its competitors in the industry (Brown, 1992 pp. 12-13). A product should be appealing or attractive to the customers and the potential customers for it to remain competitive and to meet customer’s demands in order to avoid inconveniences and disappointments. The company has ensured small quantities are available in the market to serve those who cannot afford to buy in large quantities. The product’s quality is commendable and it has helped the company gain the competitive advantage and to almost outperform the rival Coca Cola Multinational company. 5.1.2 Price Price is the amount or the value of the product that the customer is suppose to pay. The company has utilized this strategy for many years by either increasing or decreasing the prices based on the demand and supply and the profit margins the company wants to make. Pepsi Company monitors its main rival’s prices before adjusting hers so that it cannot be kicked out of the market. The prices of Pepsi beverages are always lower than its competitor’s substitutes in the market. The prices of the products vary depending on the market and the customer’s income level. This is a leading strategy because the company has ensured all the customers get the products irrespective of their market segment and their income or economic status. Prices of products is sensitive in the market and the company’s sales and marketing staff conduct market analysis regularly so as to understand prices offered in the market by the rivals and what the customers suggest (Munthree et al p. 162 2006). The company should not offer low prices in the market that compromises the profit margin and financial stability of the company. The company sales and marketing department should adjust the prices accordingly, especially when the product is declining because failure to which, it may lead to the company’s closure. 5.1.3 Place Place is the location where the product can be purchased by the customers in the market. Place is sometimes refers to as distribution channel. Place can represent a physical store or a store in internet which is virtual. Pepsi Company has ensured that, its products are found in all market segments. The company’s distribution channels are effective and efficient; this has enhanced reliability and availability of the products at all times to its customers. There are strategic locations where the stores are located in every country and all the regions. This is a strategy that the company has able been to utilize fully; hence, it has been able to retain its customers and to attract more because of the trust and loyalty the customers has with the company and the high quality products. Place is important because products should be readily available in the market at the right time and place. Failure to meet customer’s expectations may make some of them to buy the competitors substitute products. Place will ensure there are no are shortages because of the market analysis on the units or quantities use in certain regions or markets. 5.1.4 Promotion Promotion refers to any form of communication that marketers use to make the product known in the market place. Promotion has four main components or elements: sales, public relations, advertising, and selling promotion. The four elements can be used together and it is used mostly in film promotion. Pepsi Company has used promotion as a strategy to make its existing and new products known to the customers and potential customers in all target markets. The company has utilized advertising because it covers any form of communication paid to be broadcasted in the radio, television, cinema commercials, billboards, and print media. These are the major channels used to pass information to the customers all over the world because it can reach many people within the shortest time possible; it is reliable and convenient. The company uses the local business magazines, radio, and TV stations to promote and advertise their beverage products. The company marketing strategies are mostly linked with promotion because the sales and profit margins of the company depend on how the products are known to the customers. In all countries where the company has its customers, it advertises its products in all the available media that can reach many people within short period and have a positive impact on its sales. Public relation is a type of communication that is not directly paid for. These public relation promotion tools include events, trade fairs, seminars, conferences, releases, sponsorship deals, exhibitions, and engaging in social responsibility in the community. This has made many people to appreciate the company and buy their products because they believe that, they give back their returns to the less fortunate in the society. Pepsi Company though there is stiff competition from Coca Cola Company, it has been able to expand its market and customer base in all continents all over the world. It has well-trained, qualified and competent sales and marketing people who play important role using a word of mouth and public relations to make the product known. This has boasted the company’s image and reputation due to direct contact with its customers. Clarification can be done on the most controversial issues affecting the customers or on the use of the products, sight effects, and its benefits (Moraru p. 63, 2010) Recently, there has been introduction of the new three (3) P’s that include physical evidence, process, and people. This new marketing mix is known as extended marketing mix and the Pepsi Company has incorporated in its marketing plan so as to reap maximum returns as its products penetrates into new markets. People (customers and potential customers) who are involved in the use or consumption of the Pepsi products are important. People determine the success or the failure of a company; hence, they are supposed to be understood because it is of help in the market segmentation especially demographic and geographical segmentation. It is important because it addresses a particular class of people to the company. People are the assets of the company and failure to meet their needs, the company can close its operations. Process refers to the flow, mechanisms, and procedures of activities and events on how products and services are used. In addition, it entails how the products and services will reach the customers at the right time and place. The process should be consistent and be able to deliver what the customers need within the specified period. Physical evidence entails effective and efficient communication and customer satisfaction in service and product provision. There must be clear physical evidence that the company is located and the customers can access company’s information and assistance any time (Keller p 115, 1999). 5.2 Distribution channels The PepsiCo merger with PBG and PAS has strengthened the beverage distribution and supply in the North America. The company has efficient distribution of the products at the Canada, Mexico, and United States of America. Distribution of products is essential in marketing the company’s products. Therefore, target market must incorporate all factors affecting all the markets or all the customers for it to maintain its image and reputation in the competitive market (PepsiCo, 2005 p.4) 6.0 Measurements of success factors Any effective marketing strategy needs effective measurement. Obviously, measuring is only one way to know if a marketing strategy is effective. This involves measuring brands’ associated factors and the relevancy of the marketing strategy used. This process provides an opportunity for evaluation and determining the extent of the strategies’ effectiveness. PepsiCo is assessing the success of marketing strategies can use quantitative approaches or qualitative methods of measurements which are reasonable and can be reused repetitively. As proposed by Gottlieb (2010, p. 94), PepsiCo can use the conventional three types of metrics which are client-focused normally used in combination. The parameters of the metrics include determining a. Growth in revenue b. Achievability of the Set sales targets c. Monitoring the client’s perception of the brands Such marketing factors as product or brands differentiation, positioning and branding are measurable using “extremely effective” customers or major player in the distribution system. The marketing department of PepsiCo, will schedule meeting with these groups of people and establish on how, for example, the company’s new tagline and new company philosophy is received in the market. On another front, the company will perform client perception surveys to determine if there is any change in customer behavior before and after the application of the marketing strategies. Similarly, it will be important for the PepsiCo to monitoring perception of any promotional materials e.g. advertisement, print or electronic poster, among target audiences to asses their chances of success in positioning or differentiating the brands in the market (Holak, et al p. 17 1990) 7.0 Conclusion There are so many brands in the market confronted with the challenges of decline or extinction. At one point in time, they were strong brands, but some of them are now almost extinct (Wansink, 1997). Considering the expensive product launching costs, companies are largely considering strategies for rejuvenating brands or products facing decline or extinction. Through effectively drawn and executed marketing plans, history has proved that declining brands or products can be salvaged and its position in the market restored. Like such brands as Harley-Davidson, Ovaltine, Puma, and Cadillac have demonstrated that brand death can be prevented, Pepsi can save it own produced portfolio experiencing the same challenge. While it is acknowledged that, the company has done a good job, maintaining the multi-million dollar operation despite the challenges, the need to emphasize its marketing programs on the international sales to drive the business to profitability and reverse the decline trends in growth (Hoover’s Online, 2010). 8.0 Appendices: Marketing plan financials: The marketing activities will be a costly affair. Like in the past, the company will engage other additional activities like market research and consultancy services before, during, and after implementation of the marketing strategies. A calendar of marketing activities during the implementation and the overall projected budge will be as tabulated below. The budget below is generic budge for each of the market divisions PepsiCo is operating in. PepsiCo Marketing plan budget Advertising Start Date End Date Budget in $ ‘000 Totals in ‘000 Print advertisements xx/xx/2011 xx/xx/2011 $4,000 Customizable TVC commercials xx/xx/2011 xx/xx/2011 $10,000 Posters xx/xx/2011 xx/xx/2011 $10,000 Total Advertising Budget $24,000 PR Budget Hire new PR agency xx/xx/2011 xx/xx/2011 $10,000 Renew press advertisement running xx/xx/2011 xx/xx/2011 $12,000 Total PR Budget $22,000 Direct Marketing Budget Design adaptable postcard xx/xx/2011 xx/xx/2011 $5,000 Sponsored events: Road shows, raffles etc xx/xx/2011 xx/xx/2011 $15,000 Total Direct Marketing Budget $20,000 Others Market research xx/xx/2011 xx/xx/2011 $10,000 Consultancy xx/xx/2011 xx/xx/2011 $10,000 Miscellaneous $10,000 Total Other Budget $11,000 Over all marketing Totals in $ ‘000 $77,000 9.0 References Aaker, DA 1996. “Measuring brand equity across products and markets” California Management Review, Spring Issue, Vol. 38 no.3 pp. 102-108 Brown, D 1992, “Breathe New Life into your Old Brand”, Management Review, Vol. 81, no. 8, pp. 10-14. Dhar T, Chavas JP, Cotterill RW & Gould BW 2005, “An Econometric Analysis of Brand Level Strategic Pricing Between Coca-Cola Company and PepsiCo”, Journal of Economics & Management Strategy, Vol. 14, no.4,Winter pp. 905–931 Gottlieb RM, 2010, “Coke or Pepsi?: Reflections on Freudian and Relational Psychoanalysts in Dialogue”, Contemporary Psychoanalysis, Vol 46 pp. 87-100. Accessed on December 23, 2010: < http://www.pep-web.org/document.php?id=cps.046.0087a> Haig, M 2003, Brand Failures. Sterling, Kogan Page. Holak, SL, & Tang, YE 1990, “Advertising's Effect on the Product Evolutionary Cycle”, Journal of Marketing, July Edition, pp. 16-29. Keller, KL 1999, “Managing Brands for the Long Run: Brand Reinforcement and Revitalization Strategies”, California Management Review, Vol.41 no. 3, pp. 102-124. Moraru, M 2010, “The “positioning” concept and the fight between two well known brands Coca-Cola and Pepsi” Journal of Media Research, Vol. 2 no. 7 pp. 47-62. Munthree, S, Bick G, & Abratt R 2006, “A Framework for Brand revitalization through an Upscale Line Extension”, Journal of Product and Brand Management, Vol. 15 no. 3, pp. 157-67. Semans, D 2004, “The brand you save”, Marketing Management, Vol. 13 no. 3, pp. 29-32. Wansink, B 1997, “Making Old Brands New”, American Demographics, Vol. 19 no. 12, pp. 53- 58. Articles without authors “Hoover's online: the ultimate source for company information” 2010 accessed on December 23, 2010 on : < http://www.hoovers.com/search/company-search-results/100003765- 1.html?type=company&term=Pepsi> Interbrand “Best Global Brands” 2010 Reuters 2009, “Pepsi Bottling Cuts 3,150 Jobs, Mostly in Mexico” New York Times. Interbrand “Best Global Brands” 2008 PepsiCo 2005, “The Pepsi-Cola Story: 100 years of fin and refreshments,”, PepsiCo Inc. Purchase profile, N.Y.-based Pepsi-Cola North America (www.pepsi.com) Read More