One of the best examples that shows the power of social media is Pepsi. This popular brand is now focusing its efforts on the power of social media, to reach out to its target customers across geographical barriers. Called as 'The Pepsi Refresh project', this move was made in the beginning of 2010. The company has allocated a budget of $20 million for this and had also invited ideas for making the move a successful one.
Over the first year of being in social media, Pepsi has successfully made use of the various social platforms and even managed to poke fun at its arch rival Coke. The markets have responded favorably too, with Pepsi sales growing in this year.
However, the future of the platform, and how successfully Pepsi can use it to reinforce brand values is yet to be seen. Also, along with focusing on social media marketing, the brand must concentrate efforts on building its brand value. The shift towards healthier juices and non-carbonated drinks needs to be made, not just for the company but for consumers also.
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