ADVERTISING: Coke-Pepsi Slugf est

THE DAY COCA-COLA BEAT COCA-COLA blared the strange headline in a recent newspaper ad in Dallas. Starkly pictured beneath the message was the soft drink's familiar hourglass bottle flanked by two glasses, one marked M, the other Q. Thus opened what is becoming one of advertising's most bizarre feuds. It pits the nation's leading soft-drink maker, Coca-Cola, against its closest ranking competitor, Pepsi-Cola, in a taste bud to taste bud donnybrook that for sheer zaniness outdoes anything the ad world has seen in years.

The whole thing began more than 15 months ago, when Pepsi decided to challenge Coke's 3-to-l...

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