Historical Background of PEPSI
Pepsico History
PepsiCo has enjoyed a long, proud history dating all the way back to 189http://www.blogger.com/8. Take a trip down memory lane with us and explore some of our more memorable moment. Born in the Carolinas in 1898, Pepsi-Cola has a long and rich history. The drink is the invention of Caleb Bradham (left), a pharmacist and drugstore owner in New Bern, North Carolina.
In the late 1890's, he had been experimenting with Coca and Cola extracts in the syrup form. By mixing this syrup with carbonated water, he produced a very pleasing beverage that not only tasted good but also made his customers and friends feel good. He promoted it as a cure of dyspepsia (indigestion). Initially called Brads Drink by his local friends, the drink was formally titled PEPSI COLA in 1898.
By 1902 the syrup was so popular that Caleb was devoting most of time in the preparation, packaging, marketing, advertising, and overseeing the distribution of it to other pharmacies. His sales increased rapidly and in1904 he bought the Bishop Mill and converted it into his bottling plant for Pepsi Cola. In 1907, he purchased adjoining land and built a three-story addition to the factory to serve as office space for his new company.
By the end of 1909 Caleb Bradham had 250 franchises in 24 different states, his businesses continued to grow till 1920 when volatile sugar prices caused the beginning of the rapid decline in his fortune. Bankruptcy was declared in March, 1923 and the PEPSI formula passed through the series of folding companies until 1931, when Loft Candy Company in New York purchased it.
In 1934, Pepsi began offering twice as much soft drink for the same 5-cent price and sales soared. Pepsi Cola's profits reached at a total of $2, 1 million in 1936. In the early1940s Pepsi started its campaign throughout the country. During the 1950s Pepsi crossed the boundaries from United States to the USSR (now known as Russia) under the leadership of Hatcher Barnet as the president of the company.
In the 1960s, Pepsi targeted young adults calling them “Pepsi Generation”. First Can Pepsi and Diet Pepsi were also introduced during the same lime, which went all over the world. Then the Frito Lay and Pepsi Cola merged to become Pepsi Company Incorporation.
In the 1970s Pepsi opened its first plant in the USSR and became the single largest soft drink brand in America. In 1977, acquisition of Pizza Hut was Pepsi first foray into restaurants and the firm strengthened its position by Taco Bell in 1978 and Kentucky Fried Chicken in 1986. In the early 1980s Pepsi entered the frontiers of China for the production of soft drinks. In 1984, Pepsi's advertisement took a dramatic change as Pepsi became "The Choice of a New Generation" and the Pepsi went to space in "space can".
In the 1990s Pepsi went global and its profits surpassed billions. In 1993 Pepsi started using recycled plastic bottles and also established a partnership with Lipton Tea manufacturers. During the same period of time Pepsi Foods International and Pepsi Cola International merged, creating the Pepsi Co. Foods and Beverages Company.
In 1996 Pepsi made the in-story by launching the most ambitious entertainment site on the World Wide Web by the name of "PEPSI WORLD". It also announced its agreement with Pizza Hut, Taco Bell and KFC to form Tricon Global Restaurants, the largest restaurant company in the world.
And in the 1998 the company celebrated its lOO11' anniversary, and introduced Pepsi Cola the first one caloric drink.
After the 100 years of establishment, Pepsi is still making efforts to retain its standards and its impression throughout the world. Pepsi scored its biggest sales in soft drinks but enjoying its large profits in snack foods.
