Us @DroppingJaws.com wants to pose this question. What does Lebron James, Bonnie Blair and Micheal Phelps have in common??? Well they were all bronze medal winner. In 1995, a study was carried out by social psychologists Victoria Medvec, Scott Madey and Thomas Gilovich on the effects of counter factual thinking on the Olympics. The study showed that athletes who won the bronze medal were significantly happier with their winning than those athletes who won the silver medal. The silver medalists were more frustrated because they had missed the gold medal, while the bronze medalists were simply happy to have received any honors at all (according to Wikipedia ) This is the same attitude Joe Jacuzzi, a Pepsi spokesman has when asked about Pepsi Co becoming the bronze medalist of the soft drink Olympics “I don’t think that we’d view this as a blow,” Mr. Jacuzzi said, of Pepsi sliding to the No. 3 slot. “We’re looking at our total position. With the seasons changing and 4th quarter approaching Pepsi Co has taken the first of many attempts to wrangle some of their market share back from soft beverage competitor Coca Cola. With an onslaught of commercials directly taking shots at the leading soft beverage providers, this approach has been one in the making for decades but now all gloves are off. With statistics and patrons showing Pepsi has fallen to the 3rd leading soft drink beverage behind Coke and Diet Coke, this changeover has some us @DroppingJaws.com viewing Pepsi latest commercials as a desperate move to regain their position. With Pepsi taking aim at Coke’s character mainstays the Coca Cola Bear and Coke’s Santa Clause.
Beverage Digest reports that Pepsi lost 0.4 share in 2010, plummeting to a 9.5% share of the category. Diet Coke maintains 9.9% share of the market, while brand Coke protects its 17% share.
Pepsi isn’t taking their bronze place finish lightly, Pepsi plans on increasing their marketing and advertisement budget to off set this shift in power. The angle seems to be to spread their efforts to the brands that has generated the most impact for example Gatorade. These efforts has been well received buy the viewing public especially by sports fans, Pepsi has renewed their 28yr relationship with NFL for another 10yrs . With sources saying that the terms breaks down to nearly $1 billion over the length of the contract to make its Pepsi, Gatorade, Frito-Lay, Tropicana and Quaker Oats brands official marketing partners of the league. The Associated Press states that PepsiCo would pay roughly $90 million a year in rights fees. The NFL isn’t the only league where Pepsi is flexing their muscles, most of the professional leagues superstars have been targeted spokespersons for Gatorade as shown below :
We @ DroppingJaws.com have also have played close attention to Gatorade aggressive approach to marketing and advertising http://droppingjaws.mobi/?p=629. We advise that members of the marketing and advertising community play close attention to the battle of the soft beverages.