Knowledge@Wharton Asks: Can Indra Nooyi Revive PepsiCo?

In one of its biggest new product launches in years, PepsiCo this week unveiled Pepsi NEXT -- a mid-calorie beverage that contains 60% less sugar than regular Pepsi-Cola. The soda, which comes in Pepsi's trademark peppy blue can, is accompanied by an aggressive ad campaign targeting calorie-conscious customers who in recent years have replaced carbonated soft drinks with teas, flavored waters and sports drinks. The company calls Pepsi NEXT a "game-changer in the cola category" and has bestowed a hopeful tagline: "Drink It to Believe It."

The question is: Will Wall Street?

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