ELI5: Why does Coca-cola still advertise?

[u/bigdubsy]

Why do companies that have seemingly maxed out on brand recognition still spend so much money on advertising? There is not a person watching TV who doesn't know about Pepsi/Coke. So it occurs to me that they cannot increase the awareness of their product or bring new customers to the product. Without creating new customers, isn't advertisement a waste of money?

I understand that they need to advertise new products, but oftentimes, it's not a new product featured in a TV commercial.

The big soda companies are the best example I can think of.

Edit: Answered. Thanks everyone!

Edit 2: Thanks again to everybody for the discussions! I learned alot more than I expected. If we weren't all strangers on the internet, I'd buy everyone a Pepsi.

[u/[deleted]]

They may taste somewhat different due to minute ingredient changes, but I can confirm the two recipes are very similar.

[u/evildead4075 → u/[deleted]]

But... You're a potato.

[u/[deleted] → u/evildead4075]

Correct, a Rather large one at that.

[u/GamerXR72 → u/[deleted]]

That's what you get for trying to kill everyone.