PepsiCo, Inc. (PEP) Wins Exclusive Sponsorship For NBA
History indicates that sports are the biggest event to attract people and advertisers, especially the fast moving consumer goods company’s. This time around, PepsiCo, Inc. (NYSE:PEP) provided a deadly blow to its rival, the Coca-Cola Co (NYSE:KO), by winning exclusive sponsorship title rights from the National Basketball Association, or NBA. The amount of competition to bid for the title sponsorship indicated the kind of reach it will have during the event period and that no company was ready to leave it.
End Of Road
For PepsiCo, Inc. (NYSE:PEP), winning the title sponsorship could be the beginning of a fresh chapter. On the other hand, it proved to be the end of the road for The Coca-Cola Co (NYSE:KO), since it enjoyed the title sponsorship of the NBA for three decades. Therefore, one can understand the kind of plight that the Coca-Cola Co. will undergo now.
PepsiCo, Inc. (NYSE:PEP) has also reportedly been considering Mountain Dew as the leading soft drink in the alliance. The company is also planning to include Lipton Brisk, some Frito snack products, and Aquafina in the campaign. The agreement will expand the company’s sports sponsorship connection in America.
Already A Sponsor
PepsiCo, Inc. (NYSE:PEP) has already been enjoying the sponsorship rights of North America with the NFL, Baseball and the National Hockey League.
Though the details about the latest deal with the NBA have not been disclosed, PepsiCo, Inc. (NYSE:PEP) seemed to have won the title after promising more overall investment than the Coca-Cola Co (NYSE:KO). It could have probably been the turning factor in favor of Pepsi.
For the Coca-Cola Co (NYSE:KO), it was the second loss to its rival PepsiCo, Inc. (NYSE:PEP). Recently, the company’s Diet Coke became the number two soft drink in America, behind Coca-Cola.
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