gec caso 5 - pepsico

7/31/2019 GEC Caso 5 - PepsiCo

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GESTO ESTRATGICA E COMERCIAL

Caso 5 PepsiCo

Grupo 2

Francisco Morais, 56941Ricardo Marco, 58593


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ndice

Pgina

Respostas s perguntas 2

ndice FigurasX

ndice TabelasX

Bibliografia X


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Respostas s perguntas

1. What is PepsiCo's corporate strategy? Briefly identify

the business strategies that PepsiCo is using in each of itsconsumer business segments in 2008.

Desde a sua criao que a PepsiCo apostou sempre numa estratgia dediferenciao, no fosse a mesma resultante da fuso de uma marca derefrigerantes (Pepsi) com uma marca de snacks (Frito-Lay). Entre o fim dosanos 70 e o princpio dos anos 90, a empresa apostou ainda mais nestaestratgia, adquirindo cadeias de alimentao como a Pizza Hut, Taco Bellou KFC, acabando por eventualmente vend-las ou dar-lhes autonomia [4].

No virar do sculo XXI, a PepsiCo voltou a focar-se nos produtosalimentares, adquirindo nos E.U.A. a Tropicana e a Quaker Oats Company enoutros pases as marcas de bebidas locais que eram as concorrentesprincipais ou secundrias. Esta operao revelou-se um sucesso, pois todasas marcas estavam a crescer, embora lentamente, em todos os mercados,excepto a gama de refrigerantes com gs (carbonatados), nos E.U.A., onde oproduto Pepsi estava a perder para a sua rival de sempre, a Coca-Cola,conforme se pode na Exhibit8 do enunciado do Caso.

Era preciso fazer algo e a soluo passava por ter, sobretudo, um preobaixo para o consumidor e reavaliar o lucro que cada marca estava a dar,porque uma oferta to diversificada traz consigo produtos concorrentescom quotas de mercados diferentes. Teria de se ter em conta tambm se asalianas com a Unilever e a Starbucks ainda eram benficas, se havia outraspara serem feitas (iria depender muito dos produtos complementares paracada marca), tendo em conta que a integrao vertical e a expansomundial j eram suficientes.

A nvel de estratgias de negcio, a PepsiCo deve ter em conta que,para poder atingir a vantagem competitiva, deve garantir a correctaimplementao de factores crticos como a excelncia operacional, aempatia com fornecedores e consumidores, investir em novos produtos(em vez de os comprar), criar novos modelos de negcio e melhorar astomadas de decises. Em termos de marketing e publicidade, a Pepsi jteve dois anncios que criaram bastante buzz positivo em dcadas


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diferentes [5] [6] e em 2008 mudou o logotipo, mas o feedback foi negativo[7] [8] [9]. Como tal, a PepsiCo deve continuar a apostar na promoo doproduto e ponderar voltar imagem antiga.

2. What is your assessment of the long-termattractiveness of the industries represented in PepsiCo'sbusiness portfolio?

certo que a maior rival da PepsiCo a The Coca-Cola Company.Devido consciencializao do pblico que os refrigerantes gaseificadosfazem mal sade, o sc. XXI tem proporcionado quebras de vendasconstantes para estes produtos [8]. Na nossa opinio, o facto de j em 2008existir uma crise mundial tambm no vem ajudar, uma vez que as pessoasiro preferir comprar mais vezes gua e s excepcionalmente em festas oujantares de aniversrios que iro consumir outro tipo de bebidas. Isto equivalente a dizer que, em termos de marcas, acreditamos que a Aquafina ea Propel tero crescimento nas vendas, ao passo que a Pepsi, 7UP,Tropicana, Lipton Brisk, Mountain Dew, Gatorade e SoBe devero continuar avender menos unidades. Nas marcas que representam snacks ou alimentos,prevemos que as vendas se mantenham para as mais saudveis (QuakerOatmeal, Aunt Jemina e Rice-a-roni) e que as menos saudveis decresamligeiramente (Fritos, Cheetos, Ruffles, Quaker Chewy etc.).

Os grandes aliados da PepsiCo nesta indstria so a dimenso domercado e a oferta de produtos do grupo. Se tomarmos apenas em conta oproduto Pepsi e o seu maior concorrente, a Coca-Cola, estes esto no mercadodesde o fim do sc. XIX e apenas com 10 anos de diferena [10] [11]. Istosignifica que no fcil entrar nesta rea de negcio, uma vez que, s aolongo de 100 anos, ambas as marcas foram sendo distribudas e conhecidasnos cinco continentes e foram sempre competindo entre si pela lideranamundial. Em termos de variedade de produtos, a PepsiCo tem grandevantagem, muito graas s sucessivas aquisies, ao passo que a Coca-Cola

tem tambm vrias marcas, mas todas ligadas a sumos e refrigerantes enenhuma a comida[12].

A imagem de marca varia um pouco, dependendo muito das aces queos departamentos de Marketing e Publicidade tomam.


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3. What is your assessment of the competitive strength ofPepsiCo's different business units?

(Se formatao aqui ficar coc, fazer no doc da prof e copiar em JPEG

para aqui)

Table 1 Industry Attractiveness Assessment for PepsiCosBusinesses(Scale 1 = very low attractiveness, 5 = average attractiveness, 10 = very strong attractiveness)

Attractiveness MeasureWeight

Unweighted/Weighted Ratings for Industries Represented in Pep siCos Portfolio

Soft

D

ri

n

k

s

Bottled

Wa

ter

Chilled

Juic

es

Isoto

n

i

c

B

e

v

e

r

a

g

e

sRTD Tea

RTD

Co

ffe

e

Salty

Sn

ac

ks

Hot

Cer

eals

RTE

Cer

eal

s

Flavored

Grai

ns

Othe

r

B

r

e

a

k

f

a

s

t

Market size and growth

rate

Industry profitability

Intensity of

competitionEmerging

opportunities andthreats

Resourcerequirements

Product innovation

Social, political,environmental,factors

TOTALS

Table 2 Competitive Position/Business Strength Calculations forPepsiCos Business Units(Scale 1 = very weak, 5 = average, 10 = very strong)

Unweighted/weighted Strength Ratings

Strength Measures W Pepsi-

Col

Aquafina Tropic

a

GatoradeLipton/

So

Starb

u

Frito-LayQuaker

Oat

Quaker

Ce

Rice-A-

Ro

Aunt

Je


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a

n

a

/

D

o

l

e/

S

o

B

e Be

c

k

s

F

r

a

p

pu

c

i

n

o

me

al

re

als ni

mi

ma

Relative marketshare

Marketing andpromotion

Product innovationcapabilities

Distribution

capabilitiesHow well resources

are matched toindustry KSFs

Brand namerecognition/image

TOTALS


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(Morais faz um breve comentrio aqui).

4. What does a 9-cell industry attractiveness/businessstrength matrix displaying PepsiCo's business units looklike?

(Morais faz; Ver como se faz isto nos slides da prof).

5. Does PepsiCo's portfolio exhibit good strategic fit?

What value-chain match-ups do you see? Whatopportunities for skills transfer, cost sharing, or brandsharing do you see?

Figure 2 Assessment of Strategic Fit Potentials Between PepsicosBusiness UnitsCS = cost sharing benefits ST = skills transfer opportunities

Value Chain Activities

BusinessUnit

PepsiCola

Frito-Lay

Tropicana/Dole/SoBe


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Aquafina

Starbucks

Frappucino

Lipton/SoBeteas

Gatora

de

Quakersnacks

Quakerhotcer

eals

QuakerRTEcereals

Quake

rflavoredgrains

Quaker


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otherbreakfast

texto.

6. Does PepsiCo's portfolio exhibit good resource fit? Whatare the cash flow characteristics of each of PepsiCo's foursegments? Which businesses are the strongest

contributors to PepsiCo's free cash flows?

Table 3 Estimated Cash Flow for Pepsicos Business Units, 2004 -2007

Frito-LayNorth America

PepsiCoBeverages

North AmericaPepsiCo

InternationalQuaker FoodsNorth America

2007

Operating profit

+ De reciation/other

+ amortization of intan ible

Interest ex ense1

Income taxes2

Ca ital ex enditures

Dividend a ments3

Estimated free cash flow

Revenue Contribution4

Frito-Lay North America NA NA NA

PepsiCo Beverages North NA NA NA

PepsiCo International NA NA NAQuaker Foods North America NA NA NA


PepsiCoBeverages



2006

Operating profit


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+ Depreciation/otheramortization

+ amortization of intangibleassets

Interest expense1

Income taxes2

Capital expenditures

Dividend payments3



Frito-La North America NA NA NA

Pe siCo Bevera es North NA NA NA

Pe siCo International NA NA NA

Quaker Foods North America NA NA NA


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PepsiCoBeverages



2005

Operating profit+ Depreciation/other

amortization

+ amortization of intangibleassets

Interest expense1

Income taxes2


Dividend payments3



Frito-Lay North America NA NA NA

PepsiCo Beverages North NA NA NA

PepsiCo International NA NA NA



PepsiCoBeverages



2004

Operating profit

+ Depreciation/otheramortization

+ Amortization of intangibleassets

Interest expense1

Income taxes2


Dividend payments3



Frito-La North America NA NA NA

Pe siCo Bevera es North NA NA NA

PepsiCo International NA NA NA



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1Interest expense estimated by multiplying total interest expense listed in case Exhibit 3 by revenuecontribution for business segment.2Income tax expense estimated by multiplying total income tax expense listed in case Exhibit 3 by revenuecontribution for business segment.3Dividend expense estimated by first determining the total number of shares by dividing net income byEPS listed in case Exhibit 1. The resulting total number of shares was multiplied by cash dividends pershare. The total cash dividend figure was then multiplied by revenue contribution for business segment.4

Revenue contribution calculated by dividing business segment revenues by total revenues.

Table 4Operating Profit Margins by Pepsico Business Segment,2004 - 2007

2007 2006 2005 2004

Frito-Lay North America

PepsiCo Beverages North America

PepsiCo InternationalQuaker Foods North America

Calculated from case Exhibit 7.

texto.

7. Based on the preceding analysis, what is your overall

evaluation of PepsiCo's business portfolio in 2008? Doesthe portfolio provide the company's shareholders with anopportunity for above-average market returns?

texto.

8. What strategic actions should Indra Nooyi take to

sustain the corporation's impressive financial and marketperformance? Should its free cash flows be used to fundadditional share repurchase plans, pay higher dividends,make acquisitions, expand internationally, or for otherpurposes?


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texto.

ndice FigurasPgina

Figura 1 Assessment of Strategic Fit Potentials X

ndice TabelasPgina

Tabela 1 Industry Attractiveness Assessment XTabela 2 Competitive Position/Business Strength Calculations

XTabela 3 Estimated Cash Flow (2004-2007)

XTabela 4 Operating Profit Margins (2004-2007)

X

Bibliografia

[1] KOTLER, P; KELLER, K; Marketing Management; 12. Edio; PrenticeHall; New Jersey; 2004.

[2]THOMPSON; PETERAF; GAMBLE; STRICKLAND; Crafting & ExecutingStrategy - Concepts and Readings; 18. Edio; McGraw Hill; 2010.

[3] http://www.pepsico.com/Investors/Annual-Reports.html

[4] http://en.wikipedia.org/wiki/PepsiCo

[5] http://www.youtube.com/watch?v=po0jY4WvCIc

[6] http://www.youtube.com/watch?v=7Llae_r0BLo

[7] http://www.underconsideration.com/brandnew/archives/brand_new_best_worst_200

8.php

[8] http://www.bevreview.com/2008/10/14/news-pepsi-redesigning-logo-products/

[9] http://www.underconsideration.com/brandnew/archives/pepsi_new_bottles.php

[10] http://en.wikipedia.org/wiki/Pepsi

[11] http://en.wikipedia.org/wiki/Coca-Cola

[12] http://en.wikipedia.org/wiki/The_Coca-Cola_Company
http://www.pepsico.com/Investors/Annual-Reports.htmlhttp://www.pepsico.com/Investors/Annual-Reports.htmlhttp://en.wikipedia.org/wiki/PepsiCohttp://www.youtube.com/watch?v=po0jY4WvCIchttp://www.youtube.com/watch?v=7Llae_r0BLohttp://www.underconsideration.com/brandnew/archives/brand_new_best_worst_2008.phphttp://www.underconsideration.com/brandnew/archives/brand_new_best_worst_2008.phphttp://www.bevreview.com/2008/10/14/news-pepsi-redesigning-logo-products/http://www.bevreview.com/2008/10/14/news-pepsi-redesigning-logo-products/http://www.underconsideration.com/brandnew/archives/pepsi_new_bottles.phphttp://en.wikipedia.org/wiki/Pepsihttp://en.wikipedia.org/wiki/Pepsihttp://en.wikipedia.org/wiki/Coca-Colahttp://en.wikipedia.org/wiki/The_Coca-Cola_Companyhttp://www.pepsico.com/Investors/Annual-Reports.htmlhttp://en.wikipedia.org/wiki/PepsiCohttp://www.youtube.com/watch?v=po0jY4WvCIchttp://www.youtube.com/watch?v=7Llae_r0BLohttp://www.underconsideration.com/brandnew/archives/brand_new_best_worst_2008.phphttp://www.underconsideration.com/brandnew/archives/brand_new_best_worst_2008.phphttp://www.bevreview.com/2008/10/14/news-pepsi-redesigning-logo-products/http://www.underconsideration.com/brandnew/archives/pepsi_new_bottles.phphttp://en.wikipedia.org/wiki/Pepsihttp://en.wikipedia.org/wiki/Coca-Colahttp://en.wikipedia.org/wiki/The_Coca-Cola_Company

gec caso 5 - pepsico

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