Neither Coca-Cola, Dr Pepper Snapple Group looking to make any moves specific to PepsiCo's plan to increase its advertising budget this year by up to US$600M, executives say
February 24, 2012
– The CFO of Coca-Cola and the CEO of Dr Pepper Snapple Group said their companies did not plan to make any moves specific to PepsiCo planning to increase its advertising budget by up to US$600 million in 2012, Reuters reported Feb. 22.
Coca-Cola CFO Gary Fayard said he did not expect his company to increase its advertising budget as a percentage of revenue. Coca-Cola and its bottlers spent $17 billion in direct marketing in 2010 and 2011.
Dr Pepper Snapple Group CEO Larry Young said he was excited about PepsiCo’s plan to increase its advertising budget, because PepsiCo distributes Dr Pepper sodas in some markets.
The primary source of this article is Reuters, London, England, on Feb. 22, 2012.