Managing Partner, GGV Capital Singapore
One of the biggest marketing challenges for PepsiCo in China, similar to that for most foreign B2C businesses, is to be adopted by consumers as a local brand.
This is a challenge that Lilly Yip, who heads up PepsiCo’s beverage marketing in China, has responded to with gusto. While PepsiCo may concede market dominance to arch-rival Coke, its bond with Chinese consumers is unmistakable.
A big reason for this has been PepsiCo’s annual multibrand "Bring Happiness Home" Chinese New Year campaign platform, which consistently manages to mine Chinese culture for inspiration and tap into the collective memories of the country’s consumers.
An extension of this was seen in the brand's "Everyday Heroes" campaign, released at the height of COVID-19 lockdowns earlier this year. Pepsi took a subject matter close to the hearts of all Chinese — ordinary workers providing for the community during the pandemic — and created new can packaging wrapped it in an innovative, retro-inspired aesthetic.
The result was more than another ad campaign. Yip created something iconic, collectable, and memorable, and once again put Pepsi in the hearts of Chinese consumers.
“If anything that we want to transform, it is the purposeful brand building in China and Asia," Yip tells Business insider. "As one of the big international companies, we’ve been growing with the local communities. We leverage our brand power to promote local culture and support young talents."