on August 28th, 1898, Pepsi-Cola was born. This is a day that everyone who cares about Pepsi is proud of and will never forget. For more than 111 years, Pepsi-Cola has grown with the United States and the world in a noisy, chaotic and competitive atmosphere with the pace of the times. Like a young life that "wow, wow" fell to the world, Pepsi has gone through countless struggles with fate, illness, hardships and disasters, and even fell to the brink of death, holding its head high into the most beautiful youth of life and ushered in the spring of high vitality. In the vast global beverage market, Pepsi came from behind, and finally kept pace with Coca-Cola, which came out before it in 2112. Today, when people turn over the history of Pepsi-Cola from page to page, and follow her growing footsteps step by step to listen to those ups and downs and thrilling stories, our hearts can still feel the tenacity and strength of life, appreciate the charm of natural selection, taste the tears of failure and the joy of victory, thus being excited and amazed at every step Pepsi-Cola has taken in its century-old development history. The rise of Pepsi is a miracle in the history of business. While enjoying the aura of Pepsi's success, people will take "How did the miracle happen?" This question is deeply immersed in the thinking and exploration of market, opportunity, competition, marketing and even humanistic ideas. The development of Pepsi from diversification to specialization has gone through the path from expansion to contraction and from diversification to specialization. From the 1961s to the mid-1991s, PepsiCo has been adhering to the diversified development strategy, not only owning three main businesses of soft drinks, fast food and restaurants, but also owning a long-distance handling company. Since 1977, Pepsi has entered the fast food industry, and it has successively taken over KFC, Pizza-hut, Italian pizza and Taco Bell Mexican restaurant. Pepsi's opponent this time is McDonald's, the fast food king. KFC, Pizza Hut and Tekebel were only hot and cold restaurants before being merged by Pepsi, and they only had a slight advantage in their own narrow market. After Pepsi merged them, it immediately put forward that the target and opponent "should not be another fried chicken shop and pie shop in the city, but the great McDonald's!" As a result, Pepsi has challenged the strong players in the fast food industry. At that time, it was the era of rising inflation in the United States, and the food price of McDonald's was also rising with the price. Pepsi seized the opportunity and took it as a breakthrough to start its offensive. The company constantly tries to reduce costs and formulates the principle of "simplification, simplification and simplification again" (this does not mean the production and quality of food, but the minimization of non-food operating expenses). For example, prepare some foods in advance and barbecue beef outside the store to minimize the kitchen land and reduce labor costs; Modify the menu, put the fast-cooked dishes in front to speed up the circulation. As a result, sales quickly doubled, while employees were only half as old. Due to the rapid increase in income, greatly reduced costs and soaring profits, it has been able to compete with McDonald's and promote the sales of Pepsi-Cola beverages. Pepsi also pioneered a new marketing method of "door-to-door delivery" in the fast food industry. Wayne, then president of Pepsi. Karaoui said, "We can't prosper if we just wait for busy people to come to the restaurant. We should make the supply of fried chicken and pies as convenient as watching time. " Pepsi-Cola won customers' favor with its high quality and cheap food and efficient and diverse service, and its sales reached a record every year, and soon became the most profitable catering company in the world. Many established fast food companies have been defeated by Pepsi's aggressive offensive, and even McDonald's has been greatly threatened. In the late 1971s and early 1981s, the annual profit rate of McDonald's Company was 8%, while that of Pepsi Fast Food Company was as high as 21%. However, as time went on, the long battle line made Pepsi's operation unsustainable. In 1996, the new CEO of PepsiCo recognized the disadvantages of diversification and made major strategic adjustments in order to give full play to the advantages of product structure. In 1997, the catering business of KFC, Pizza Hut and Tacobell was separated, making it an independent listed company, Yum! Global Company, focusing on developing soft drinks. In 1999, PepsiCo split its bottling group and listed it, focusing on brand building and brand marketing. With the emergence of professional advantages, Pepsi has started a new round of mergers and acquisitions in the beverage industry. In August 2111, PepsiCo acquired Quaker Oats, a world-famous company, for $13.4 billion, which was the largest acquisition in PepsiCo's history. Through this acquisition, the Gatorade brand, which occupies an absolute share of the sports beverage market in the United States and is called "a part of American life", is placed under the Pepsi account. PepsiCo will become the leader in the global non-carbonated beverage industry as it wishes. It occupies 25% market share of non-carbonated beverages, which is 1.5 times that of Coca-Cola in the same field.