Pepsi is taking an audacious swipe at Coke's polar bears

The rivalry between cola giants Pepsi and Coke has long been fierce - and now Pepsi is cranking it up gear.

On Monday, Pepsi launched a new ad campaign, created by ad agency Motive, that takes direct aim at two of Coke's biggest recent marketing efforts, AdAge reports.

The spots introduce a new loyalty competition the brand is running this summer, which can see drinkers win tickets to concerts of their choice. A "Pepsi Pass" app on iOS and Android lets consumers earn points by scanning codes on Pepsi products, which gives them the chance to win prizes.

One of the "But Only With Pepsi" spots shows a man whooping at the news, telling his Coca-Cola guzzling friend: "You've still got the polar bear" - a reference to one of Coke's long-running brand mascots.

In another ad, a female Pepsi drinker consoles her Coke-drinking friend: "At least your name's on the bottle!"

"Do I look like a Larry to you?," her friend snaps back.

Linda Lagos, Pepsi brand marketing and digital director, says in a statement provided to AdAge: "We know that there are few things that grab our fans' attention as much as seeing our beloved blue and that red next to each other. It's done well for us in the past, and it's just something that we know works and that they love to see."

Business Insider has contacted Coca-Cola for comment, and we'll update this article once we hear back.

The last time Pepsi took such a direct potshot at Coke was in 2011, in an ad which saw Santa (another long-time Coke mascot) turning down a bottle of Coca-Cola at a bar in favor of a Pepsi.

Coke is the largest carbonated soft drink brand in the US with a 17.6% of the market, while Pepsi is number two, with an 8.8% share, according to Beverage Digest data for 2014.

NOW WATCH: This is what happens when you boil an iPhone 6 in Coke