Is Pepsi in panic mode?

Two years ago I had the chance to work for one of the most iconic brands in the market: Pepsi. At that time, they recently launched the Dear Mr. President campaign by R/GA and TBWA was about to present to the world the Pepsi Refresh Project.

It was a great moment to work for Pepsi, which again was looking to become the brand for a new generation. A new generation that in the US is as diverse as ever and therefore we were tasked to bring that new generation to the spotlight during the 2010 Census. Pepsi Yo Sumo offered a platform to all Latinos to show themselves to the rest of the country and to become a real catalyst for chance, not just a number. Pepsi gave a stage to a new generation of Latinos.

Pepsi had a clear and consistent strategy, amazing platforms to engage audiences, the campaigns were praised by consumers and the advertising industry.... so why in the world now they have launched the Santa commercial & the Polar Bears commercial?

It seems that Pepsi cannot get that monkey of his back to compare itself to Coke. Specially when in March of this year sales results showed that Pepsi's lost the number 2 position to Diet Coke 

I understand that platforms like Pepsi Refresh are designed to engage audiences in a long-term relation and help to build the brand equity. And I understand these efforts need to be complemented with campaigns that drive sales and help the bottom line.

But going from Dear Mr. President, Pepsi Refresh or Pepsi Yo Sumo to the latest Summer Times commercials can just draw one conclusion: Pepsi is on panic mode. And when you are in panic mode you usually make mistakes.

We'll see how these ads work and what is Coke's response (probably continue on their path to happiness and don't get in the Cola-Wars) but I hope that Pepsi can find a way to increase sales without creating such cheesy ads. Especially the Polar Bear one I think is one of the worst commercials I have seen from the brand.

I know these are tough times but let's not panic.