In the 1970s, Pepsi was the disruptive agent in the soft drink business with big ambitions to grab market share from Coca-Cola.
To take on the market leader, Pepsi adopted the “Pepsi Challenge,” a maverick approach: Show loyal Coke drinkers that Pepsi was better by conducting blind taste tests in the parking lot of their favorite supermarkets.
The marketing geniuses at Pepsi got exactly what they wanted.
More than 57% of the tasters chose Pepsi over Coke. It was a game-changer.
Fast forward a few decades to today’s supermarket – the Internet. In the same spirit of Pepsi, I conducted my own blind test of wealth advisors by analyzing the websites of Wall Street firms, independent advisors and robo advisors.