Word: colas
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...process. Who wouldn't want a foe like that? By the time Roger Enrico walked into the chief executive's suite at PepsiCo headquarters in Purchase, N.Y., three years ago, the company's performance had detached itself from its image as a vaunted marketing maverick that launched the cola wars in the '80s. The numbers tell all: in the U.S., Pepsi sells a single soda for every three Cokes. The troops were as confused and demoralized as Enrico had seen in his 27 years with the company--"shell-shocked," says Phil Marineau, who arrived in 1997 as president of Pepsi...
...Enrico the old cola warrior is rewriting the rules of engagement. When you see Pepsi advertising on the air, it will still be in Coke's face, although perhaps not as relentlessly as before. Take its "Joy of Cola" campaign, in which the cherubic Hallie Eisenberg lip-synchs voice-overs from celebrities--including Marlon Brando as Don Corleone--to demand Pepsi over you-know-what. Yet it's a much broader, less edgy approach than the company's Generation Next theme, whose message excluded much of the audience. The company has also launched a new beverage, Pepsi One, to keep...
...Fried Chicken, which had combined sales of $11 billion. The profits were tasty, but the capital required to build restaurants was giving Pepsi heartburn. Last month the company spun off its main $7 billion bottling operation into an independent public company, something Coke did years ago to create Coca-Cola Enterprises. The soda business actually has two components, the first of which, making and marketing cola concentrate, is very profitable. Mixing that concentrate with carbonated water, putting it in bottles and getting it to you is another capital-intensive business that Pepsi decided to do without...
...Force may be with him, but some cynics out there think Enrico and Pepsi have lost the cola wars for good. One line of reasoning is that Coke is simply too big to topple. Coke, for instance, has added 8 billion cases of sales in 10 years, according to CEO Douglas Ivester. Others say that Enrico's deliberate strategy is tantamount to declaring defeat. Says Tom Pirko, president of consulting firm Bevmark: "Pepsi has put its tail between its legs and withdrawn...
...Enrico bristle. "Anyone who thinks we've reduced our commitment to the soft-drink business simply isn't getting the message," he says. Enrico warned his top managers in a recent strategy session not to think things at PepsiCo are going to be predictable. And deep down, Pepsi's cola warriors may never lose their thirst for battle. "We are going to take back what is rightfully ours," says Nooyi, the strategist. Let the games begin again...