PepsiCo is launching its first ad campaign in three years with a spot that focuses on its Pepsi-Cola. "Summer Time Is Pepsi Time" features Santa on vacation. Video courtesy of PepsiCo.

That’s a very common practice in the soda space. Sometimes, when a big company like Coca-Cola (KO) makes large changes, it does address them. In other cases, when a single soda or a few related ...