The Effect of Sport Themed Fizzy Drinks during Major Sports Events.
DOI:
https://doi.org/10.47611/jsrhs.v14i1.8435Keywords:
Economics, Sports, Fizzed Drinks, Marketing, Global Sport events, Major Sport events, Football, Cricket, Revenue, Profit, Financial Quarters, Coca-Cola, PepsiAbstract
Sport events are the hotspot for brands to hop in and advertise their products, especially for non-alcoholic ready-to-drink beverage firms. In the current non-alcoholic beverage market Pepsi and Coca-Cola dominate their sector and are major competitors when advertising during sport events. They do this through creation of sport themed fizzy drinks, athlete sponsorships, visual advertisements, and presenting a large number of offers.
Advertising during these events is extremely vital for Pepsi and Coca-Cola that they end up spending hundreds of millions of dollars on the same, just to drive an extra amount of economic growth. To investigate the effects of marketing during major sport events on sport themed fizzed drinks, this research paper analyses quarterly financials of Pepsi and Coca-Cola to understand the extent of financial growth as a result of such marketing. Additionally, I also include anecdotes from a survey I conducted asking sport fans how their purchasing choices are influenced due to marketing in sports. The research suggests that promotion in major sport events generally leads to large financial growth for the firm. However, in a few cases such as the 2022 FIFA Qatar World Cup, where marketing was not very effective and merely dragged the growth of Coca-Cola.
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