Question: What fuels your business through good times and bad?
In 2003, the Baylor College of Medicine revamped the Pepsi Challenge and found that, just like in the late 1970s and early 1980s, in blind taste tests, participants overwhelmingly liked Pepsi more than Coke.
But here’s the difference. Unlike the original challenge, Baylor then took the “blind” part out of the equation. People were shown both brands—and almost everybody chose Coke.
Since the early 1980s, Coke has worked on its rebranding efforts—they were way behind Pepsi in profits—and won. Today’s numbers indicate Coca-Cola controls 42% of the soft drink market, while Pepsi comes in at 30%.
So what’s the answer to the question above? Your brand. It’s your brand that fuels your business through good times and bad.