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Before Nov. 1999, Coke Cola and Pepsi kept lowering prices. However, in Nov. 1999, both companies changed pricing strategies. Nov. 16: Coca-Cola raised price 7%

Before Nov. 1999, Coke Cola and Pepsi kept lowering prices. However, in Nov. 1999, both companies changed pricing strategies. Nov. 16: Coca-Cola raised price 7% Nov. 22: Pepsi raised price 6.9% At the same time, both companies also spent more money on advertisement. Why did both companies keep low prices for a long period of time prior to 1999

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