14 hours Ago By Chris Bradford
A TOP PepsiCo exec has made a stark admission, saying the renowned brand lost focus before sharing how the company is trying to revitalize itself. Ram Krishnan revealed the company had too many interests in different areas - not just food and drink . PepsiCo is not just behind cola products; its portfolio of brands includes the likes of Lay's chips, Ruffles, Tostitos, and Fritos.
Data from Visual Capitalist revealed Pepsi's market share in the soft drinks industry declined from 15% in 1995 to 8.3% in 2023. While, its chief rival Coca-Cola 's share increased to almost 20%.
“We were doing too many things,” Krishnan told The Wall Street Journal as he unveiled his plan to reverse the company’s fortunes. read more on money “We were doing music, we were doing sports—every different communication was a little different.” Pepsi chiefs have ramped up its marketing spending and turned to innovative adverts.
One such commercial is the company’s Undercover Cups ad, where the brand claims: “Burgers deserve Pepsi.” “Every burger deserves Pepsi. So we decided to go undercover,” the start of the ad says.
Most read in Money The ad features blue sports cars whizzing into restaurant chain parking lots before unveiling a Pepsi-branded drinks machine from the motor. The two actors, dressed up in Pepsi overalls, are seen swapping diners drinks for Pepsi products. One such cup is a play on McDonald's , with the letter P in the style of the Golden Arches.
The tagline on the cup is: “I’m lovin Pepsi.” The actors continue swapping the diners' sodas for Pepsi products. The ad, released earlier this year, is just one strategy the company has turned to.
PEPSICO'S portfolio includes some of the most recognizable brands enjoyed by Americans. It's not just iconic soda names either. Some brands associated with PepsiCo are listed below: Doritos Fritos Lays Pepsi Munchies Quaker Ruffles Starry Tostitos PRODUCT LAUNCHES PepsiCo has also launched new products.
The brand’s Starry drink, a lemon and lime flavored soda , hit store shelves in 2023. It was part of the company's efforts to compete against renowned names like Sprite and 7 Up. PepsiCo chiefs said the drink is designed to “speak” with Generation Z shoppers.
Soda fans conscious about the calories can also buy cans containing zero sugar. Krishnan told the Journal that the company has seen some upswing. Sales of Pepsi blue-can cola have jumped by 5.
8% this year. And he noted that zero-sugar Pepsi and wild cherry-flavored Pepsi sales have increased by double digits. LEADERSHIP CHANGE Krishnan has been in the role of PepsiCo Beverages North America CEO since 2023.
He has been with the company since 2006. The company recently announced that Greg Lyons, who was a chief marketing officer, will be leaving after eight years in the role. He's set to be succeeded by Mark Kirkham.
"He led the step-changed international approach to accelerating zero sugar and expanding our portfolio to address the needs of evolving consumers," Krishnan said. He added that Kirkham is "well-poised" to be at the center of the company's next stages of innovation. The change comes months after it was reported that Dr.
Pepper overtook Pepsi in becoming the second favorite soft drink in the US. Pepsi soda machines have recently been stripped out of Costco food courts across the country. Read More on The US Sun The soda had been a staple in food courts for more than a decade.
Pepsi soda fountains are being replaced by Coca-Cola branded machines..
