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Soda Industry The soda industry is an oligopoly when related to microeconomics. An oligopoly is defined as an industry characterized by few firms selling the same product with limited entry of other firms (Econ 111). In an oligopoly every firm that is involved has market power. So therefore the firms respond to what the other firms in the industry might do. The three major bottling competitors in the soda industry are Coca-Cola, Pepsi, and the 7up/Dr. Pepper bottling companies. Each company has a special way of getting and producing their product to the consumer. Coca-Cola, Pepsi, and 7up all have their own unique way of beginning. Coca-Cola was discovered in 1886 by an Atlanta druggist Dr. John Smith Pemberton. He mixed it in a thirty-gallon brass kettle hung over a backyard fire. It was marketed as a brain and nerve tonic in drugstores. The original formula included extracts of the African kola nut and coca leaves (Coca-Cola). Pepsi was discovered in the same manor. Caleb Bradham, a young pharmacist from New Bern, North Carolina, began experimenting with many different soft drink concoctions. Many people would sample his creations at his local drug store. The first ingredients were water, sugar, vanilla, rare oils, and cola nuts (Pepsi). The 7up firm roots go back to 1920, when C. L. Grigg banked on his 30 years of experience in advertising and merchandising to form The Howdy Corporation in St. Louis, Mo. Although he named the company after the Howdy Orange drink he pioneered, his goal was to create a wholesome and distinctive soft drink that would prove irresistible to the nation's consumers. He spent more than two years testing 11 different formulas of lemon-flavored drinks finally settling on one that best met his two goals: refreshing and thirst-quenching (7up).
Approximate Word count = 1092
Approximate Pages = 4.4
(250 words per page double spaced)
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