Pepsi has launched an advertising offensive

Pepsi began a large offensive: in the first quarter the company spent 25 percent more on advertising than a year earlier.
The marketing campaign is the part of a major restructuring program, which otherwise results in a significant cost reduction and in redundancies: 8,700 jobs will be terminated, it's about 3 percent of the workers in the company.

While Coca-Cola's revenues increased by six percent in the first quarter compared to a year earlier, Pepsi's revenues only increased by 4 percent, to  12.4 billion USD, primarily due to price increases. (MTI-Eco, metropol.hu)