One case is equivalent to 192 oz. B Bottled water includes all packages, single-serve as well as bulk. C for 1985 and afterward, coffee and tea data are based on a three-year moving average. D for pre-1992 data, sports drinks are included in "Tap water / hybrids / all others"
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One case is equivalent to 192 oz. B Bottled water includes all packages, single-serve as well as bulk. C for 1985 and afterward, coffee and tea data are based on a three-year moving average. D for pre-1992 data, sports drinks are included in "Tap water / hybrids / all others"
One case is equivalent to 192 oz. B Bottled water includes all packages, single-serve as well as bulk. C for 1985 and afterward, coffee and tea data are based on a three-year moving average. D for pre-1992 data, sports drinks are included in "Tap water / hybrids / all others"
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as XLSX, PDF, TXT or read online from Scribd
One case is equivalent to 192 oz. B Bottled water includes all packages, single-serve as well as bulk. C for 1985 and afterward, coffee and tea data are based on a three-year moving average. D for pre-1992 data, sports drinks are included in "Tap water / hybrids / all others"
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Exhibit 1
U.S. Beverage Industry Consumption Statistics
1970
1975
1981
1985
1990
3,090
3,780
5,180
6,500
7,780
22.7
26.3
34.2
40.3
46.9
12.40%
14.40%
18.70%
22.10%
25.70%
Carbonated soft drinks
22.7
26.3
34.2
40.3
46.9
Beer
22.8
21.8
20.6
24.0
24.0
18.5
21.6
24.3
25.0
24.2
1.2
2.7
4.5
8.1
Historical Carbonated Soft Drink Consumption
Casesa (millions) Gallons/capita As share of total beverage consumption U.S. Liquid Consumption Trends (gallons/capita)
Milk Bottled waterb
Coffeec
35.7
33
27.2
26.9
26.2
Juices
6.5
6.8
6.9
8.1
8.5
Teac
5.2
7.3
7.3
7.3
7.0
Sports drinksd
Powdered drinks
Wine Distilled spirits Subtotal Tap water/hybrids/all others Totale
1.3
4.8
6.2
5.4
1.7
2.1
2.4
2.0
1.8
1.8
1.5
114.5
126.5
133.3
146.5
153.8
68
56
49.2
36.0
28.7
182.5
182.5
182.5
182.5
182.5
Source: Compiled from Beverage Digest Fact Book 2001 , The Maxwell Consumer Report , Feb. 3, 1994; Adams Liquor Handbook , casewriter estimates; and Beverage
Digest Fact Book 2005. Data for 1990 and afterward comes from Beverage Digest Fact Book 2005, which reports that some of that data has been restated compar previous editions of the Fact Book.
a One case is equivalent to 192 oz.
b Bottled water includes all packages, single-serve as well as bulk.
c For 1985 and afterward, coffee and tea data are based on a three-year moving average.
d For pre-1992 data, sports drinks are included in Tap water/hybrids/all others.
e This analysis assumes that each person consumes, on average, one half-gallon of liquid per day.
Cola Wars Continue: Coke and Pepsi in 2006
Exhibit 2
U.S. Soft Drink Market Share by Case Volume (percent)
1966
1970
1975
1980
1985
Coca-Cola Company Coke Classic
Coca-Cola Diet Coke
27.7
Sprite and Diet Sprite
28.4
1.5
26.2
1.8
5.2 25.3
16.5
2.6
6.8 3.0
4.7
Caffeine Free Coke, Diet Coke, Tab
1.8
Fantaa
0.9
Barqs and Diet Barqs
Minute Maid brands
Tab
1.4
Others Total
1.3
2.6
3.3
1.1
2.8
3.2
3.9
4.3
2.5
33.4
34.7
35.3
35.9
39.5
16.1
17.0
17.4
20.4
19.3
1.4
0.9
1.3
3.3
3.1
PepsiCo, Inc. Pepsi-Cola Mountain Dew Diet Pepsi
1.9
1.1
1.7
3.0
3.9
Sierra Mist
Diet Mountain Dew
Caffeine Free Pepsi, and Diet Pepsi
Mug Root Beer
Wild Cherry Pepsi (reg and diet)
Mountain Dew Code Red
Slice and Diet Slice
Others Total
2.5
0.7
1.0
0.8
0.7
1.1
0.8
20.4
19.8
21.1
27.8
30.3
Cadbury Schweppesb Dr Pepper (all brands)
7UP (all brands)
A&W brands
Royal Crown brands
Sunkist
1.2
Canada Dry
1.5
Schweppes
0.5
Others
1.5
Total
4.7
Dr Pepper/Seven-Up Cos.c Dr Pepper brands
2.6
7UP brands Others
3.8
6.9
5.5
7.2
6.0
7.6
4.5
6.3
5.8
Total Cott Corporation Royal Crown Cos.
6.9
6.0
5.4
4.7
3.1
Other companies
29.8
28.5
25.1
19.3
12.1
Total case volume (in millions)d
2,927
3,670
4,155
5,180
6,385
Sources: Compiled from Beverage Digest Fact Book 2001 ;
Marketing Corporation, cited in Beverage World , March 1996 and
a For the period before 1985, Fanta sales are included under Others. b
Cadbury Schweppes acquired A&W brands in 1993, Dr Pepper/Seven-Up Cos. (DPSU) brand
brands in 2000. c Dr Pepper/Seven-Up Companies (DPSU) was formed in 1988. For the years preceding 1988, Dr Pepper and 7UP brand shares refer to the shares of the respective independent companies, the Dr Pepper Company and the Seven-Up Company. d One case is equivalent to 192 oz.
17
Exhibit 3
Financial Data for Coca-Cola, Pepsi-Cola, and Their Largest Bottlers ($ millions 1975
1980
1985
1990
1995
Coca-Cola Companya Beverages, North America Sales
1,486
1,865
2,461
5,513
Operating profits/sales
11.10%
11.60%
16.50%
15.50%
Sales
2,349
2,677
6,125
12,559
Operating profit/sales
21.00%
22.90%
29.40%
29.10%
2,773
5,475
5,879
10,236
18,127
Net profit/sales
9.00%
7.70%
12.30%
13.50%
16.50%
Net profit/equity
21.00%
20.00%
24.00%
36.00%
55.40%
3.00%
10.00%
23.00%
8.00%
7.60%
1,065
2,368
2,725
5,035
7,427
10.40%
10.30%
10.40%
13.40%
16.70%
Beverages, International
Consolidated Sales
Long-term debt/assets PepsiCo, Inc.b Beverages, North America Sales Operating profit/sales Beverages, International Sales
1,489
3,040
Operating profit/sales
6.30%
3.90%
Consolidated Sales
2,709
5,975
7,585
17,515
19,067
Net profit/sales
4.60%
4.40%
5.60%
6.20%
7.50%
Net profit/equity
18.00%
20.00%
30.00%
22.00%
19.40%
Long-term debt/assets
35.00%
31.00%
36.00%
33.00%
35.90%
Coca-Cola Enterprises (CCE)
Sales
3,933
6,773
Operating profit/sales
8.30%
6.90%
Net profit/sales
2.40%
1.20%
Net profit/equity
6.00%
5.70%
Long-term debt/assets
39.00%
46.30%
Sales
Operating profit/sales
Net profit/sales
Net profit/equity
Long-term debt/assets
Pepsi Bottling Group (PBG)b
Source: Company annual reports.
Coca-Colas beverage sales consisted mainly of concentrate sales. Cokes stake in CCE was ac
earnings included in its consolidated net income figure. In 1994, Coke began reporting U.S. data as part of a North American category that included Canada a b
PepsiCos sales figures included sales by company-owned bottlers. In 1998, PepsiCo began reporting U.S. data as part of a North American category that inclu
As of 2000, data for Beverages, North America combined sales for what had been the Pepsi-Cola and Gatorade/Tropicana divisions. In 2003, PepsiCo ceased
international beverage business separately from its international food business. PBG financial data for the pre-1999 period refer to the PepsiCo bottling operat combined and spun off to form PBG in 1998. From 1999, PepsiCos share of PBGs net earnings was included in PepsiCos consolidated net income figure.
Cola Wars Continue: Coke and Pepsi in 2006
706-447
Exhibit 4
Comparative Costs of a Typical U.S. Concentrate Producer and Bottler, 2004
Concentrate Producer
Bottler
Dollars
Percent
Dollars
of Sales
per Casea
per Casea
Percent of Sales
Net sales
$0.97
100%
$4.70
100%
Cost of sales
$0.16
17%
$2.82
60%
Gross profit
$0.81
83%
$1.88
40%
Selling and delivery
$0.02
2%
$1.18
25%
Advertising and marketing
$0.42
43%
$0.09
2%
General and administration
$0.08
8%
$0.19
4%
Pretax profit
$0.29
30%
$0.42
9%
Sources: Industry analysts and casewriter estimates. Profit and loss percentage data are adapted from Andrew Conway, Global Soft Drink Bottling Review and Outlook: Consolidating the Way to a Strong Bottling Network, Morgan Stanley Dean Witter, August 4, 1997, p. 2, and supplemented with 2004 data supplied by Corey Horsch, of Credit Suisse First Boston.
One case is equivalent to 192 oz.
Exhibit 5
U.S. CSD Industry Pricing and Volume Statistics, 1998-2004
Retail price per casea
1988
1990
1992
1994
1996
$8.78
$8.99
$8.87
$8.63
$8.70
1.20%
-0.70%
-1.40%
0.40%
Change in retail priceb
Total Change 1988-2004: 0.6% Concentrate price per casea
$0.79
Change in concentrate price
$0.86
$0.97
$1.00
$1.07
4.30%
6.20%
1.50%
3.40%
Total Change 1988-2004: 3.9%
Volume (cases, in billions)a
4.9
Change in volume
5.2
5.3
5.8
6.2
3.00%
1.00%
4.60%
3.40%
Total Change 1988-2004: 2.1%
Consumption (gallons/capita)
40.3
Change in consumption
46.9
47.2
50.0
52.0
7.90%
0.30%
2.90%
2.00%
110
119
125
133
5.10%
3.60%
2.80%
2.90%
Total Change 1988-2004: 1.6%
Consumer Price Indexd
100
Change in CPI Total Change 1988-2004: 3.0%
Source: Compiled from Beverage Digest Fact Book 2001 and Beverage Digest Fact Book 2005 , and using the Inflation Calculator tool, U.S. Bureau of Labor Statistics website, http://data.bls.gov/cgi-bin/cpicalc.pl, accessed November 2005.
a For the purposes of this exhibit only, case refers to a 288-oz case.
b All change figures are calculated using Compounded Annual Growth Rate (CAGR).
c Concentrate price for 2004 is based on a weighted average of concentrate prices for the top 10 CSD brands. Concentrate price data for previous years appear in aggregated form in Beverage Digest Fact Book 2003 , p. 64.
d CPI data use 1988 as the index year (1988 = 100).
19
706-447 Exhibit 6
U.S. Refreshment Beverages: Bottling Profitability per Channel, 2
Super-
Convenience Super-
Mass
Club
markets
and Gas
Retailersa
Storesa
centersa
Share of industry volumeb
31%
15%
9%
4%
4%
Net Price
1.00
1.54
0.95
1.08
1.07
Variable Profit
1.00
1.86
0.90
1.17
0.81
Index of bottling profitabilityc
Source: Compiled from estimates provided by beverage industry source, April 2006. a Supercenters include Wal-Mart Supercenter stories and similar outlets. Mass Retailers include standard Wal-Mart stores, Target stores, and the like. Club Stores include Sams Club, Costco, and similar membership-based retailers. b Figures here and below refer to the entire refreshment beverage industry, encompassing CSD and non-carb beverage volume. c
Using supermarket information as a baseline, these figures indicate variance by channel of bo
volume profit. The variable profit figures take into account cost of goods sold as well as delivery costs.
Exhibit 7
Non-Alcoholic Refreshment Beverage Megabrandsa, 2004 and 2000
2004
2000
Cases
2004 Cases
(mil)
Share
2000
Brand (Owner)
Category
(mil)
Share
Coke (Coke)
CSD
3,272.30
23.40%
3,192.60
25.90%
Pepsi (Pepsi)
CSD
2,098.40
15.00%
2,159.90
17.50%
Mountain Dew (Pepsi)
CSD
871.1
6.20%
809.8
6.60%
Dr Pepper (Cadbury)
CSD
738.3
5.30%
747.5
6.10%
Sprite (Coke)
CSD
683.2
4.90%
713.0
5.80%
Gatorade (Pepsi)
Non-Carb
546.0
3.90%
325.0
2.60%
Aquafina (Pepsi)
Water
251.0
1.80%
100.7
0.80%
Dasani (Coke)
Water
223.0
1.60%
65.1
0.50%
Poland Spring (Nestl Waters)
Water
217.0
1.50%
91.8
0.70%
7UP (Cadbury)
CSD
186.7
1.30%
276.1
2.20%
Minute Maid (Coke)
CSD/Non-Carb
176.4
1.30%
145.0
1.20%
Sierra Mist (Pepsi)
CSD
166.9
1.20%
Lipton (Pepsi/Unilever)
Non-Carb
164.0
1.20%
155.2
1.30%
Crystal Geyser (CG Roxanne)
Water
135.5
1.00%
50.2
0.40%
Arrowhead (Nestl Waters)
Water
127.0
0.90%
46.6
0.40%
PowerAde (Coke)
Non-Carb
122.7
0.90%
62.6
0.50%
Nestl Pure Life (Nestl Waters)
Water
113.2
0.80%
Barqs (Coke)
CSD
112.5
0.80%
121.2
1.00%
Sunkist (Cadbury)
CSD
105.2
0.80%
80.3
0.70%
Source: Compiled from Beverage Digest Fact Book 2005; Beverage Digest Fact Book 2001 ; and casewriter estimates. a Beverage Digest Fact Book defines a megabrand as a brand or trademark with total volume of more than 100 million 192-oz cases. A megabrand encompasses all varieties (Coke Classic, Diet Coke, Cherry Coke, and so on) of a given trademark (Coke). Only single-serve products are included here. b
All changes calculated using Compounded Annual Growth Rate (CAGR).
20
Cola Wars Continue: Coke and Pepsi in 2006
Exhibit 8
Advertisement Spending for Selected Refreshment Beverage Brands ($ thousan
Share of marketa
Advertisement Spendingb per 2004
2004
2003
2004
2003 share point
Coca-Cola
23.40%
24.30%
246,243
167,675
10,523
Pepsi-Cola
15.00%
15.50%
211,654
236,396
14,110
Mountain Dew
6.20%
6.40%
57,803
60,555
9,323
Dr Pepper
5.30%
5.30%
104,762
96,387
19,766
Sprite
4.90%
5.30%
45,035
31,835
9,191
Gatorade
3.90%
3.50%
141,622
130,993
36,313
Aquafina
1.80%
1.70%
22,037
24,647
12,243
Dasani
1.60%
1.50%
17,633
18,833
11,021
7UP
1.30%
1.50%
34,608
25,071
26,206
Minute Maid
1.30%
1.50%
35,797
21,097
27,228
Sierra Mist
1.20%
1.20%
60,327
64,129
50,273
PowerAde
0.90%
0.80%
11,008
10,100
12,231
Source: Compiled from Special Report: 100 Leading National Advertisers, Advertising Age , June 27, 2005, and casewriter estimates.
a Share of the total single-serve non-alcoholic beverage market (about 14 billion cases in 2004).
b Spending as measured across 17 national media channels using data compiled by TNS Media Intelligence.
a Each brand measured by percentage of respondents who rank the brand first, second, or third for each category.
21
706-447 Exhibit 10
CSD Industry: Selected International Consumptio
Consumption
Population (thousands)
(8-oz servings
Annual
per capita)
Growtha
2003
1999 1999-2003
Europe (23.4%) Germany
82,476
340
344
-0.30%
51
United Kingdom
59,251
420
370
3.20%
47
Spain
41,060
425
386
2.40%
65
Italy
57,423
216
212
0.50%
44
France
60,144
180
158
3.30%
60
Russia
143,246
70
52
7.70%
21
Poland
38,587
167
155
1.90%
19
Netherlands
16,149
335
356
-1.50%
80
Hungary
9,877
279
273
0.50%
49
Romania
22,334
145
104
8.70%
46
Czech Republic
10,236
410
215
17.50%
13
Mexico
103,457
610
590
0.90%
73
Brazil
Latin America (24.3%)
178,470
312
276
3.10%
46
Argentina
38,428
400
374
1.70%
50
Colombia
44,222
159
181
-3.20%
51
Venezuela
25,699
205
290
-8.30%
49
Chile
15,805
402
392
0.60%
73
Peru
27,167
166
108
11.40%
39
1,304,196
21
22
-1.20%
51
Asia Pacific (13.6%)
China Philippines Japan Australia
79,999
187
205
-2.30%
80
127,654
80
92
-3.40%
64
19,731
490
502
-0.60%
56
Thailand
62,833
95
114
-4.50%
56
1,065,462
7.50%
45
47,700
118
108
2.20%
47
Indonesia
219,883
14
11.70%
75
Pakistan
153,578
24
14
14.40%
26
Vietnam
81,377
20
15
9.30%
39
South Africa
45,026
218
207
1.30%
94
Saudi Arabia
24,217
270
229
4.20%
15
Egypt
71,931
61
50
5.10%
48
Israel
6,433
452
400
3.10%
55
30,566
56
63
-2.90%
87
290,809
837
874
-1.10%
44
31,510
463
489
-1.40%
38
6,305,252
119
125
-1.20%
51
India South Korea
Africa/Middle East (7.8%)
Morocco North America United States Canada Total Worldwide
Sources: Compiled from Beverage Digest Fact Book 2005 and Beverage Digest Fact Book 2001 . a Change calculated using Compounded Annual Growth Rate (CAGR). b Share of worldwide market by volume.
22
Cola Wars Continue: Coke and Pepsi in 2006
706-447
Appendix A Cadbury Schweppes: Operations and Financial Performance
By the late 1990s, Cadbury Schweppes had emerged as the clear, albeit distant, third-largest player in the U.S. soft drink industry. Its products accounted for 14.5% of CSDs and 9.3% of non-carbs sold in 2004. Its brands include Dr Pepper, 7UP, RC Cola, Schweppes, Canada Dry, A&W, Squirt, Sundrop, Welchs, Country Time, Clamato, Hawaiian Punch, Snapple, Mistic, and Stewarts.
The U.K.-based firm was born of the 1969 merger between Jacob Schweppes mineral water business (founded in 1783) and John Cadburys cocoa and chocolate business (founded in 1842). In the mid-1980s, the group decided to focus on its core international confectionery and soft drink businesses. In
1989, its beverage headquarters relocated from London, England, to Stamford,
Connecticut. During the 1980s and the early 1990s, its soft drink and confectionery brand portfolio was extended through the acquisition of a number of key brands, notably Motts (1982), Canada Dry (1986), Trebor (1989), and Bassetts (1989). Its acquisition of Dr Pepper/Seven-Up Companies in 1995 boosted its U.S. CSD market share from 4.6% in 1994 to 15.1% in 1995, and its acquisition of Triarcs
Mistic and Snapple brands in 2001 more than doubled its non-carb market from 6.0% in 1999. Further acquisitions included the Orangina and Yoo-Hoo brands (bought from Pernod Ricard in 2001), Squirt (a top-selling brand in Mexico, purchased in 2002), and Nantucket Nectars (bought in 2002 and folded into the Snapple brand). In 1999, Cadbury Schweppes disposed of its soft drink brands in around 160 countries, concentrating its beverages interests on North America, Europe, and Australia.
In 2004, Cadbury Schweppes operated primarily as a licensor, selling concentrate and syrup to independently owned bottling and canning operations
(some of which were affiliated with
competitors) It also provided marketing support and technical manufacturing oversight to these companies. In the United States, Cadbury Schweppes had a 40% interest in the Dr Pepper/Seven Up Bottling Group (DPSUBG), which accounted for 28.7% of its CSD volume. With its non-carb products and in certain markets (particularly Mexico), it manufactured and distributed its beverages directly or through third-party bottlers.
Table A Cadbury Schweppes Financial Data ($ millions)
2004
2003
2002
2001
2000
Americas Beverages Sales Operating profits/sales
$3,854
$3,239
$3,190
$2,770
$1,950
25.20%
29.30%
29.50%
29.70%
32.70%
Europe Beveragesa Sales
$1,253
$1,236
$882
$560
$477
17.90%
17.30%
19.00%
18.20%
15.40%
Sales
$12,927
$11,500
$8,528
$7,220
$6,161
Operating margin
13.60%
11.60%
17.40%
17.90%
18.90%
Return on assets
5.20%
3.90%
7.00%
7.60%
8.40%
Operating profit/sales Consolidatedb
Source: Company financial reports; OneSource, Global Business Browser, http://globalbb.onesource.
com/web/Reports/cia.aspx?KeyID=L5018&Process=CP, accessed November 2005
a Soft drink sales in Asia Pacific; Africa, India, and Middle East; and Central and Other divisions are not reported separately from confectionary sales in those regions.
b Consolidated figures include worldwide confectionary sales.
23
706-447
Cola Wars Continue: Coke and Pepsi in 2006
Endnotes 1 Beverage Digest Fact Book 2005 , p. 14. 2 See Exhibit 1 and Exhibit 3 in this case.
3 Roger Enrico, The Other Guy Blinked and Other Dispatches from the Cola Wars (New York: Bantam Books, 1988).
4 Robert Tollison et al., Competition and Concentration (Lexington Books, 1991), p. 11. 5 Beverage Digest Fact Book 2005 , p. 45.
6 Unless otherwise noted, information on industry participants and structures comes from Michael E. Porter (with research associate Rebecca Wayland), Coca-Cola versus Pepsi-Cola and the Soft Drink Industry, HBS No. 391-179 (Boston: Harvard Business School Publishing, 1994); Andrew J. Conway et al., Global Soft Drink Bottling Review and Outlook: Consolidating the Way to a Stronger Bottling Network (analysts report), Morgan Stanley Dean Witter, August 4, 1997; and from casewriter interviews with industry executives.
7 Casewriter conversation with industry insider, April 2006.
8 Ibid.
9 Cott Begins Shipping from New Fort Worth, Texas Plant, Cott Corporation press release, July 13, 2005; casewriter conversation with industry analyst, November 2005.
10 Louisiana Coca-Cola Reveals Crown Jewel, Beverage Industry , January 1999.
11 Casewriter conversation with industry insider, April 2006.
12 Bonnie Herzog and Daniel Bloomgarden, Coca-Cola Enterprises (analysts report), Salomon Smith Barney, February 19, 2003, pp. 31-32; Bonnie Herzog and Daniel Bloomgarden., Pepsi Bottling Group (analysts report), Salomon Smith Barney, February 24, 2003, pp. 26-27.
13 Timothy Muris, David Scheffman, and Pablo Spiller, Strategy, Structure, and Antitrust in the Carbonated Soft Drink Industry (Quorum Books, 1993), p. 63; Beverage Digest Fact Book 2005 , p. 76.
1994
1996
1998
2000
2002
2003
2004
8,710
9,290
9,880
9,950
10,087
10,140
10,240
50.0
52.0
54.0
53.0
52.5
52.3
52.3
27.40%
28.50%
29.60%
29.00%
28.80%
28.70%
28.70%
50.0
52.0
54.0
53.0
52.5
52.3
52.3
22.4
21.8
21.8
21.8
21.8
21.7
21.6
23.0
22.7
22.0
21.3
20.7
20.4
20.1
9.6
11.0
11.8
13.2
15.4
16.6
17.7
23.3
20.2
18.0
16.8
16.8
16.7
16.6
9.0
9.0
9.5
9.5
8.9
8.5
8.6
7.1
6.9
6.9
7.0
7.0
7.0
7.0
1.2
1.5
1.9
2.2
2.6
3.0
3.5
4.8
4.8
3.7
3.0
2.4
2.5
2.6
1.7
1.8
1.9
1.9
2.0
2.1
2.1
1.3
1.2
1.2
1.2
1.3
1.3
1.3
153.3
152.2
152.7
150.9
151.4
152.1
153.4
29.2
30.3
29.8
31.6
31.1
30.4
29.1
182.5
182.5
182.5
182.5
182.5
182.5
182.5
, casewriter estimates; and Beverage Digest, Beverage
that data has been restated compared to
706-447
1990
1995
2000 2004E
20.1
20.8
20.4
17.9
0.6
0.1 -
9.3
8.8
8.7
9.7
4.5
5.7
7.2
6.3
2.9
2.6
2.2
2.0
0.7
0.7
0.2
1.3
0.2
1.2
1.2
0.7
0.7
1.5
0.4
0.2
0.1
2.1
2.6
2.6
4.3
41.1
42.3
44.1
43.1
17.6
15.0
13.6
11.5
3.9
5.7
7.2
6.3
5.8
5.3
6.1
0.1
1.4
6.3
0.5
0.7
0.9
1.3
2.3
2.0
1.7
1.4
0.3
0.3
0.8
0.7
0.2
0.5
0.6
1.0
1.0
0.4 0.5
0.3
0.5
0.2
0.8
1.7
32.4
30.9
31.4
31.7
6.8
7.5
7.2
3.3
2.8
1.8
1.7
1.5
1.4
1.1
0.7
0.7
0.8
1.0
1.2
1.0
0.9
0.8
0.6
0.5
0.4
0.4
0.7
1.1
0.8
0.8
3.2
15.1
14.7
14.5
5.2
3.9
0.5
9.6
2.7
3.3
2.6
2.0
1.1
11.1
7.0
5.4
5.5
5.2
7,780
8,970
9,950
10,240
The Maxwell Consumer Report , February. 3, 1994; the Beverage
d in Beverage World , March 1996 and March 1999; and Beverage Digest Fact Book 2005 .
epper/Seven-Up Cos. (DPSU) brands in 1995, and Royal Crown
706-447
nd Their Largest Bottlers ($ millions)
2000
2001
2002
2003
2004
7,870
7,526
6,264
6,344
6,643
17.90%
19.70%
23.90%
18.90%
24.20%
12,588
12,386
13,089
14,477
15,076
27.10%
37.10%
35.80%
33.30%
33.60%
19,564
21,044
21,962
20,458 20,0092 10.60%
19.80%
15.60%
20.70%
22.10%
23.40%
34.90%
25.80%
30.90%
30.40%
4.00%
5.40%
11.00%
9.20%
3.70%
6,171
6,888
7,200
7,733
8,313
22.30%
21.30%
21.90%
21.90%
23.00%
1,981
2,012
2,036
8.00%
10.50%
12.80%
20,438
26,935
25,112
26,971
29,261
10.70%
9.90%
13.20%
13.20%
14.40%
30.10%
30.80%
35.60%
30.00%
31.00%
12.80%
12.20%
9.30%
6.70%
-18-
14,750
15,700
16,889
17,330
18,158
7.60%
4.30%
8.00%
8.60%
7.90%
1.60%
-2.00%
2.90%
3.90%
3.30%
8.30%
-11.50%
14.90%
15.50%
11.10%
46.70%
43.7
46.10%
41.10%
39.90%
7,982
8,443
9,216
10,265
10,906
7.40%
8.00%
9.70%
9.30%
9.00%
2.90%
3.60%
4.60%
4.10%
4.20%
13.90%
19.10%
23.50%
22.10%
23.40%
42.30%
41.80%
45.10%
38.90%
41.60%
te sales. Cokes stake in CCE was accounted for by the equity method of accounting, with its share of CCEs net
an category that included Canada and Mexico.
North American category that included Canada.
na divisions. In 2003, PepsiCo ceased reporting its
refer to the PepsiCo bottling operations that were
consolidated net income figure.
ntrate Producer and Bottler, 2004
tistics, 1998-2004 1998
2000
2002
2004
$8.55
$9.08
$9.38
$9.68
-0.90%
3.10%
1.60%
1.60%
$1.14
$1.29
3.20%
6.40%
1.35 1.45c 2.30%
3.60%
6.6
6.6
6.7
6.8
3.20%
0.00%
0.80%
0.70%
54.0
53.0
52.5
52.3
1.90%
-0.90%
-0.50%
-0.20%
138
146
152
160
1.90%
2.80%
2.00%
2.60%
Cola Wars Continue: Coke and Pepsi in 2006
Bottling Profitability per Channel, 2005 Drug
Fountain and
Stores
Vending
Total
3%
34%
1.19
1.48 NA
1.31
1.80 NA
100%
s indicate variance by channel of both by-volume pricing and by-
T.C. Melewar, Elif Karaosmanoglu (2006) Seven Dimensions of Corporate Identity A Categorisation From The Practitioners' Perspectives, European Journal of Marketing, Vol. 40 Iss 78, Pp.846 - 869
T.C. Melewar, Elif Karaosmanoglu (2006) Seven Dimensions of Corporate Identity A Categorisation From The Practitioners' Perspectives, European Journal of Marketing, Vol. 40 Iss 78, Pp.846 - 869
