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可口 (kě kǒu) does actually mean "delicious" -- you are thinking of 口渴 (kǒu kě) which means thirsty

</nitpick>

Admittedly, it is still a superior branding to Pepsi (百事可乐) which literally translates to "hundred events." Maybe this has something to do with how Pepsi has about 1/3 as much market share as Coca-Cola has in China [1].

[1] http://www.dailyfinance.com/2011/07/29/coke-sees-chinas-mark...

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<nitpick to your nitpick> 百事 could be translated as "hundred events" but could also just as easily be literally translated as "hundred things" which is much closer to its actual meaning: "everything" </nitpick>

Although by the number of promotional events that Pepsi puts on sponsoring concerts and such, I can very well see how "hundred events" may be closer to their actual marketing strategy. :)

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