The process of reshaping and refocusingPepsiCo, which commenced in 1996, is expected to leave the US-based soft drinks and snacksgiant in a stronger position as it enters the new millennium than it has been for manyyears. By Mike Rohan. PepsiCo's ambitious 'ProjectBlue' campaign signified the company's last big play to try and catch up witharch rival Coca-Cola in global soft drinks. Having since accepted that Coca-Cola isunassailable in certain markets, PepsiCo has settled for making the most of being theworld's second biggest soft drinks group and is now concentrating its efforts only onthose markets where it has the economies of scale and market share to compete effectivelywith its US rival. This has meant retreating or scaling back in certain international softdrinks markets - South Africa being a prime example where PepsiCo threw in the towel justthree years after re-entering the market in 1994.