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Coke and Pepsi are two of the most recognizable brands in the world.The battle to obtain the number one spot in the soda industry is a constant struggle between these two top conglomerates.Their distinctive marketing, advertising, and branding efforts have these two companies at the top of their class.Regardless of the proclaimed evident differences, the two products actually have more in common than not.The menu before you will take you through a tour of the comparison and contrasting of two of the best product companies in the world.
Company Mission Statement
Pepsi and Coke are constantly at work striving to outdo each other.At one point in time Pepsi's mission statement was short, sweet, and definitely fierce; "Beat Coke" (Collins & Porras, 11, pg.0).This is a vivid portrayal of the company's strive to beat out their number one competition.Presently Pepsi's mission is "Our mission is to be the worlds premier consumer products company focused on convenience 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." (http//www.pepsico.com/company/overview.shtml)
Coke's mission statement is direct and simple."The Coca-Cola Company exists to benefit and refresh everyone it touches." (http//www.coca-cola.com/ourcompany/ourpromise.html) Coke further describes a relationship like one that Pepsi illustrates; however, it is separate from the mission statement so it doesn't come at you all at once.I feel that the Coke mission statement is much more effective.It reaches out and grabs you and creates the warm fuzzy feeling, while Pepsi's sounds like it was created solely to impress stockholders.
Taste Test
The battle of the better cola has heated up in the past few decades with Pepsi introducing the Pepsi challenge.Pepsi started doing ad's consisting of blind taste tests on television showing that the average consumer was choosing Pepsi over Coke.So which one is better?
In all actuality there is very little difference between the two cola kings.Coke has a prevalent vanilla hint to it while Pepsi has a strong citrus accent to it (Consumer Reports, 11).Other than the vanilla and citrus flavors, the two colas are almost identical in ingredients.
Brand Image
Coke has a package that is consistent and timeless.Dana Blankenhorn states that a "product has to match the promise, the promise must be deliverable and consistency counts (1)." All of their advertisements have been fun loving and about enjoyment of life.In 185 Coke made the mistake of trying to change its' famous formula and quickly learned to stick with consistency (Bradford, 1, pg 16).The "new Coke" was quickly rejected and replaced with the old formula.This mistake helped Coke to understand that people appreciate consistency and they've been consistent ever since.
Pepsi also has a distinctive package with the bright red, white, and blue logo it carries.Pepsi's brand symbol represents the companies' country of origin in a prideful way.No matter what type of Pepsi product it is (diet, wild cherry, or Pepsi one) the logo has also been constant with the product's package.Pepsi also made a mistake a few years back of trying to create the clear Pepsi.This was a huge failure for Pepsi; they soon resorted back to the classic caramel cola for fear of greater devastation to the brand identity.
One strong difference with the Pepsi brand and Coke brand is that Coke has managed to stretch their brand into markets beyond foods and beverages.Coke has planned to launch their own fashion and sports apparel line (Peppal & Richards, 00).This is a great effort by Coke to extend their name across lines that no beverage company has yet to cross.
Marketing Strategies
Pepsi and Coke have developed strong relationships with their customers and developed themselves into a global market to become accepted as "aspirational holy grails by marketers and brand managers in other product sectors (Sparks, 17, pg15)".There is a vast array of different businesses that try to target their market the way that Pepsi and Coke have done.I even found an article trying to help cities market themselves as successfully as Pepsi and Coke (Matson, 14, pg 5).
Through there crazy antagonistic advertising approaches and other marketing efforts Coke and Pepsi do an incredible job of reaching their markets.Coke can reach all generations both young and old with almost all of it's marketing efforts.Coke has always used a sense of tradition in their means of marketing.Even today, incorporated into their new hip hop ads they continue on with their traditional feel.For example their new "Real" campaign; they powerfully use the traditional Coca-Cola red in every medium (Atlanta Business Chronicle, 00).
On the flip side, Pepsi has prided itself on being the new and exciting soft drink.Thus there major market is the young teen to college crowd. They did a great job with this campaign when they brought in Michael Jackson to be one of their spokespeople.Another example of Pepsi's dynamic advertising efforts is the Generation Next campaign where they were on top of the teen and college crowd with use of hot celebrities.
Celebrity Spokespeople
Pepsi and Coke do great jobs of finding influential celebrities to be their spokespeople.The latest trend involving celebrities is using music stars.Pepsi signed Brittney Spears to be there spokesperson for some of their recent ads and soon after Coke signed Christina Aguilera.This is a great example of rivalry among competitors, because Brittney and Christina have been battling for the number one music spot since they were children. I don't think that Coke could have signed a better artist to go up against Brittney's Pepsi ads.
Use of the Internet
The internet is an essential tool to a company's success in the business environment around the world.It is almost imperative that a company learns how to and fully utilizes the benefits the internet has to offer.Coke does a wonderful job of this through www.coke.com.There is ample information about the company, the products, and their global market areas.
Pepsi does an adequate job of using their website but it doesn't have near the information that the coke site does.Not only does it have less information, but it is also split up between two sites www.pepsico.com and www.pepsi.com.The pepsi.com website is mainly for entertainment purposes and the pepsico.com site is informational.This is not good use of the internet because they probably loose a lot of user activity because of the split and confusion of two different sites.While I was researching information about the company it took me quite a while to understand the all the company information was on a different site than pepsi.com.If I was doing the research for investment purposes I definitely would not have invested my money in Pepsi; but rather in Coke because the information was readily assessable.
Conclusion
Pepsi and Coke execute many of the best business practices in today's business venue.Despite the companies minor differences they've done an impressive job of creating successful brands that all companies can respect and emulate.Lastly, from a consumer's perspective if you're a Coke or a Pepsi fan I think with either choice "you've got the right one".
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