Pepsi was invented in 1898 by Caleb Bradham and launched in 1903. John Pemberton invented Coca-Cola in 1886 and it was incorporated in 1892. Both companies have grown significantly since then. Pepsi and Coke compete directly as they target similar demographics and geographic markets. They both utilize brand ambassadors and pricing strategies to try to gain market share from one another in the carbonated soft drink oligopoly.