In 1984 executives at Coca-Cola were worried. The company appeared to be on the edge of a terrible precipice. Its number one place in the coke market appeared under genuine threat for the first time. Pepsi was catching up fast. Market share was slipping – Coca-Cola was reduced to a market share lead of just less than 5 percent. Coca-Cola’s ad spend was up but was having little effect. Pepsi had come up with a good ad play for a number two in the market: the Pepsi Challenge. The Challenge had led to a sharp increase in . . .
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