Pepsi and Coca Cola are probably the most famous soft drinks in the world. For years Coca-Cola has been number one. Its sales have always been much higher than sales of Pepsi Cola. However, on December 12 2005 something changed. For the first time ever the Pepsi Cola company was worth more on the stock market than Coca-Cola. Pepsi Cola’s market value was $98.4bn on December 12 while Coca-Cola was worth $97.9bn. The "real thing" was suddenly number two not number one. Coca-Cola and PepsiCo have been great business rivals for many years. Marketing students always study these two companies because they are examples of how to create a powerful brand from something very simple - both drinks are made of brown carbonated water mixed with caffeine and vegetable extracts. Now marketing students study them for another reason: PepsiCo because it can change its business when people’s tastes change; Coca-Cola because it often cannot do this. At the beginning of 2000 Coca-Cola's market value was about $128bn, almost three times more than PepsiCo, whose market value was $44bn. In developed markets like the US and Europe sales of fizzy drinks are not increasing. The main difference between the two companies now is that PepsiCo is moving away from sugary carbonated drinks because it realises that consumers are worrying more and more about their health. In 1998 PepsiCo bought the fruit juice business Tropicana. Three years later it bought the energy drink Gatorade. Coca-Cola had the opportunity to buy Gatorade but its directors said the price was too high. That was a bad decision. Today PepsiCo has about 81% of the fast-growing sports drink market in the US. It has the number one fruit juice brand in Tropicana and the number one bottled water brand in the US, Aquafina. In last quarter of last year, sales of PepsiCo's non-carbonated drinks increased by 24%. PepsiCo gets about 23% of its worldwide profits from the fizzy drinks sector while Coca-Cola gets 85% of its profits from fizzy drinks. PepsiCo also owns snack foods including Walkers Crisps and Doritos, and these different products help it to sell to supermarket chains. Now Coca-Cola is trying to do the same. In June it started to sell Minute Maid fruit juice in Britain. It has also introduced the Dasani bottled water brand and the Powerade energy drink. Powerade is about one-fifth as big as Gatorade in the US. Dasani was not a success in Britain because it was made of ordinary tap water and consumers did not buy it. Coca-Cola's problems probably started when its chief executive Roberto Goizueta died in 1997. Many people then lost their jobs and there were a lot
Taken from the Magazine section in www.onestopenglish.com
of changes in the management of the company. In May 2004 the Irishman Neville Isdell became chief executive. Mr Isdell was open about Coca-Cola's mistakes. He said there were no easy answers. He said that Coca-Cola had missed consumer trends and that its advertising was not effective. He promised an extra $400m for marketing and promised to sell more in growing markets such as China and India. The company is now spending more money on developing new products. Now it seems that Mr Isdell is making some progress. Coca-Cola’s profits have increased over the past year. In the third quarter of last year profits increased by 37% to $1.28bn, with very good sales in developing markets such as China, Russia and Latin America. In the meantime PepsiCo is continuing to do well. It is concentrating on healthier products including Tropicana fruit bars and a carbonated version of Tropicana fruit juices.
Key Words and Phrases 
Vocabulary 3 Source: http://khoaanh.hcmup.edu.vn/projects/Tilt2006/3C/Deserts_ThanhBinh_KimChi/PDF%20files/inter/coca_cola1.pdf
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