For all cola companies, summer times are characterized by a marketing frenzy. However, the exit of the Indian team from the cricket World Cup has not just put money at stake but also shaken the confidence of a brand like Pepsi.
Pepsi as a brand has started analysing the impact of Indian cricket team's loss of face in the ongoing world cup and is likely to come out with a new advertising and branding strategy.
Vipul Prakash, executive vice president, marketing, Cola, Pepsico India, said, "We are analysing the situation. The company will revert with its decision soon".
PepsiCo India executive director marketing Punita Lal said, "Like the rest of the nation, we were hoping that the Indian teams would fare better. Therefore, in light of India's performance there will be some changes in the short term as far as advertising is concerned."
Celebrity endorsements constitute the key element in the branding strategy of cola companies. The instant brand awareness and recall associated with celebrities may adversely impact the concerned product in the current emotive situation. This is perhaps compelling Pepsi to assess the situation.
Value addition by celebrities to the brand image, which is the very basis of brand endorsement, does not hold true any more in case of Indian cricket team. The ICC Champions Trophy and the Afro-Asia cup will also see major changes in brand endorsement strategies of various companies including Pepsi.
