Fueled with that information, Pepsi plans to debut a campaign
inspired by Millennials that will play to their optimistic nature
and mirror the current social climate -- even in the teeth of a
painful and lingering recession.
"Pepsi has always stood for youthful exuberance and optimism, and
we're pleased to learn through this survey that the positive spirit
in youth culture is not only intact but growing," said Dave
Burwick, Pepsi's chief marketing officer. "Our new brand identity
campaign reflects that optimism like never before -- on shelf and
Product bearing the new logos is beginning to roll out to
stores, and the campaign will debut shortly, the brand said. A
spokeswoman for Pepsi declined to provide a more specific timeline.
There has been some speculation that the brand could use the Super
Bowl on Feb. 1 to debut new creative around the logos. Last year
the game attracted an average audience of 97.5 million people in
the U.S. The company confirmed it has bought time in the game but
declined to provide further details.
TBWA/Chiat/Day, Playa Del Rey, Calif.,
is working on the new campaign, having been named Pepsi's
communications agency last month. It will be the agency's first
creative work for brand Pepsi, which spent about $162 million on
advertising in 2007, according to Advertising Age's 100 Leading
National Advertisers report. BBDO Worldwide had handled the account
for nearly 50 years.
Pepsi has long sought to appeal to younger consumers with
taglines like "Generation Next" and "The Choice of a New
Generation." Getting its carbonated soft-drink brands to resonate
with Millennials will be important to the company's revitalization
of the category. In recent years, younger consumers have fled to
new categories such as energy drinks and fortified waters. That, in
part, has led to declining soft-drink volume at both PepsiCo and
rival Coca-Cola. PepsiCo reported a 3% volume decline in North
America during the third quarter, while Coca-Cola reported a 2%
Not just Millennials
The consumer survey was part of the Pepsi Optimism Project, which
aims to examine the mind-set of Millennials. It found that the
group is more confident and excited about the future than any other
generation. Still, a Pepsi spokeswoman pointed out that other
generations are also fairly optimistic. More than two-thirds of
adults surveyed said that the election of President-elect Barack
Obama is making them feel optimistic about the future of the
"We have a broad target audience, and we believe this campaign
will appeal to people of many different ages," the spokeswoman
said. "We are excited that people are optimistic across the board.
... [The survey] gives us more information, so it does help shape
how we're going to move forward with this campaign."
The study also found that 95% of Millennials make positive
associations when they think of the word "change." They also
associate the word with sentiments including "new," "progress,"
"hope" and "excitement." That bodes well for Pepsi, which has
received plenty of criticism for changing its iconic globe