What’s PepsiCo’s secret to Market Dominance?
After 2012, we have seen an increase in the share prices for the company but things were not the same before that!
2012 was a significant year for PepsiCo as it became evident to one of the best initiatives taken up by the firm, ‘Design Thinking’.
What is Design Thinking?
Design Thinking is an iterative process in which we seek to understand the user, challenge assumptions, and redefine problems in an attempt to identify alternative strategies and solutions that might not be instantly apparent with our initial level of understanding. At the same time, Design Thinking provides a solution-based approach to solving problems. It is a way of thinking and working as well as a collection of hands-on methods.
Quoting Mauro Porcini (the person behind all this growth), “There’s a new realization in big companies of the value of design” to drive growth. PepsiCo began leveraging design-thinking for innovation over seven years ago, starting with beverages in the US and China.”