August 28, 1898, is the day of the birth of Pepsi-Cola. This is a day that every person who cares about Pepsi is proud of and will never forget. For more than a hundred years, Pepsi has grown and expanded along with the United States and the world in an atmosphere of noise, chaos, and competition, and with the pace of the times. Like a young life that "wow, wow" fell into the world, Pepsi, after countless struggles with destiny, sickness, tribulation, disaster, and even falling on the death line, stepped into the most splendid youthful years of its life and ushered in the vibrant spring. In the vast global beverage market, Pepsi came to the forefront and finally joined Coca-Cola, which was introduced 12 years before it, to share the world. Today, when people turn over the history of Pepsi's development page by page, step by step along her growth footprints, to listen to those ups and downs, thrilling stories, our hearts can still feel the tenacity and strength of life, taste the charm of natural selection, taste the tears of failure and the joy of victory, thus, for Pepsi in its 100 years of development in the history of every step taken by the excitement, More than marveling. The rise of Pepsi is a miracle in business history. While appreciating the aura of Pepsi's success, people will take the question of "How did the miracle happen?" with them. With this question, people will be y plunged into pondering and exploring the market, opportunities, competition, marketing, and even humanistic concepts. From Diversification to Specialization PepsiCo's development has gone through the path from expansion to contraction, from diversification to specialization. From the 1960s until the mid-1990s, PepsiCo adhered to the strategy of diversification, not only owning the three main businesses of soft drinks, fast food and restaurants, but also owning a long-distance moving company. Beginning in 1977, Pepsi entered the fast food industry, it has KFC Foods (KFC), Pizza Hut (Pizza-hut) Italian pizza and Taco Bell (Taco Bell) Mexican restaurants under the banner. Pepsi's rival this time is fast-food king McDonald's Corp. KFC, Pizza Hut and Taco Bell before being merged by Pepsi, are just some hot and cold restaurants, only in their own small market within a slight advantage. Immediately after Pepsi merged with them, it stated that its target and rival "should no longer be another fried chicken or pie store in town, but the great McDonald's!" So, Pepsi took on another strong player in the fast food industry. It was a time of rising inflation in the U.S., and McDonald's food prices were rising along with prices, so Pepsi saw the opportunity to use this as a breakthrough to begin its offensive. The company constantly seeks to reduce costs, the development of the "simplify, simplify, simplify" principle (this does not mean that the production and quality of food, but refers to minimize non-food operating expenses). For example, they made some of the food in advance and grilled the beef outside the store to minimize kitchen space and reduce labor costs; and they modified the menu by placing dishes that were quick to prepare at the front of the menu to speed up distribution. As a result, sales quickly doubled to twice what they were before, with half the staff. As a result of the rapid increase in revenue, costs were greatly reduced, profits soared, and have been able to compete with McDonald's, and led to the sale of PepsiCo beverages. Pepsi also pioneered the new marketing method of "home delivery" in the fast food industry. Wayne Callaway, president of PepsiCo at the time, said, "If you're not going to be able to deliver to your door, you're not going to be able to do it. We can't prosper if we just wait for busy people to come to our restaurants," said Wayne Callaway, then president of PepsiCo. We're going to make it as easy to serve fried chicken and pie as it is to watch the clock." Pepsi's high-quality, inexpensive food and efficient, varied service won over customers, and with record sales year after year, it soon became the most profitable restaurant company in the world. Many of the old fast-food companies lost under Pepsi's aggressive attack, and even McDonald's was under great threat.In the late 1970s and early 1980s, McDonald's had an annual profit margin of 8%, while Pepsi Fast Foods had an annual profit margin of 20%. However, with the continuation of time, the too long front led to unsustainable operation of PepsiCo. 1996, the new PepsiCo Global CEO recognized the drawbacks in diversification and made major strategic adjustments in order to better utilize the advantages of the product mix. 1997, KFC, Pizza Hut, and Tacobell food and beverage businesses were separated out to make it an independent publicly traded company, PepsiCo Global, Inc. In 1999, PepsiCo spun off its bottling group and listed it on the stock market, concentrating on brand building and brand marketing. With the emergence of the advantages of specialization, PepsiCo began a new round of mergers and acquisitions in the beverage industry. in August 2001, PepsiCo acquired the world-famous Quaker Corporation (Quaker Oats) at a price of 13.4 billion U.S. dollars, which was the largest acquisition in the history of PepsiCo. Through this acquisition, occupying the absolute share of the United States sports drink market, known as "part of American life" Gatorade (Gatorade) brand into the PepsiCo account. PepsiCo will become the global leader in the non-carbonated beverage industry. It holds 25% of the non-carbonated beverage market share, 1.5 times that of Coca-Cola in the same segment. Unlike Coca-Cola's illustrious history, Pepsi's early years were marked by tears and bitterness, and the earliest it brought to its owners was always bankruptcy. Despite the fact that its inventor, Pradohan, was a "pharmacist" as gifted as Pemberton, God chose Pemberton's product over Coca-Cola in the first place. In the 30's, Gus intervened in PepsiCo, and from then on, Pepsi's good days came. A "double the price, double the portion" made Pepsi doubly popular, followed by Mike and Steele, in whose hands, Pepsi's sales jumped like a cat's feet being scalded by boiling water. The battle against Coca-Cola was on, and Pepsi had become a formidable rival to Coca-Cola. Don Kendall took the baton, and the Pepsi generation was born, followed by Coke's national "challenge".