PepsiCo is no stranger to celebrity endorsement. From Michael Jackson's in 1984 to Britney Spears's in 2001, many Pepsi commercials have featured pop culture icons. One of the most recent in the lineup, Beyoncé's Pepsi commercial aired in April of 2013.
The advertisement features a present-day Beyoncé Knowles in the middle of a set of mirrors. She drinks a Pepsi, and each mirror suddenly contains a younger Beyoncé from earlier in her music career. The personas reach as far back as 2001; Pepsi recreated her pink costume from the Destiny's Child "Bootylicious" music video, before she was even a solo artist. They all dance to a song that at the time had yet to be released, culminating with Beyoncé breaking away from her past selves and drinking a Pepsi. The slogan "Live For Now" is displayed on the screen and a voiceover states, "Embrace your past, but live for now."
The commercial relies heavily on the audience members' cultural knowledge; they must realize that Beyoncé is confronting past versions of herself, or else the advertisement makes little sense. Luckily, Beyoncé is popular enough that the average American would recognize her and make the necessary connection to the slogan. Even if they didn't, however, the commercial would still be effective due to the entertainment value of the singing, dancing, and animation.
I think the commercial was most likely successful in fulfilling its purpose of selling Pepsi products. PepsiCo was wise to choose Beyoncé as its spokesperson, since she is about as popular today as Michael Jackson was in 1984. Prior to this commercial, Pepsi sent her to perform at the Superbowl to put her back in the public eye despite being between album releases. The fact that the commercial features an unreleased song creates even more talk about Beyoncé and the commercial, thus making it more well-known and more likely to sell its product.