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Coca-Cola, global soft drinks company announced that its lemon and lime-flavored soft drink_________has become a billion-dollar brand in the Indian market.
A)
7UP
B)
Thums Up
C)
Sprite
D)
Coca-Cola

Correct Answer : Option (C) - Sprite


Global soft drinks major Coca-Cola Company on Tuesday(25th Oct 2022) said its lemon and lime-flavoured soft drink Sprite has become a billion-dollar brand in the Indian market.
     
The company has recorded a "strong" volume growth in its India business in the third quarter of 2022, helped by its sparkling soft drinks portfolio and fruit drink brand Maaza.
     
During an earnings call, while speaking on the performance in the Indian market, Coca-Cola Company Chairman and CEO James Quincey said, "Trademark Coke delivered strong growth through effective execution and occasion-based marketing."  
     
"We drove 2.5 billion transactions in India at affordable price points through the expansion of returnable glass bottles and single-serve PET packages," he noted.
     
In the first half of 2022, Coca-Cola continued to strengthen as it gained share in sparkling offerings, he added.
     
"Sprite has grown to become a billion-dollar brand in the market, driven by the success of locally adapted, occasion-based global marketing campaigns and screen time," said Quincey.
     
Earlier in January this year, Coca-Cola had said its Indian soft drink brand Thums Up had become a billion-dollar brand in 2021. India is the fifth-largest market for Coca-Cola globally.
     
For the three months that ended September 30, 2022, overall, Coca-Cola Company's unit case volume grew by 4 per cent. Its developed markets grew in the mid-single digits while developing and emerging markets grew in low single digits...

Source : Outlook India

Published On : October 27, 2022
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