In today's turbulent world, many feel that there is no more room for innovation and that imitations are more ubiquitous. Innovation is viewed as something with a positive effect on business and the economy as a whole, while on the other hand imitation often has a negative connotation. Innovation is characterized by a higher level of risk and financial investment, while imitation is the other way around and is often more economical for the company. However, digital transformation brings new trends and with them new opportunities for innovation. By creating new ideas, or innovating, companies can become pioneers in the market and create a sustainable competitive advantage. Digital transformation has given rise to many innovations (eg smartphones, electric cars, social networks, web search engines) and their imitations. It is not a rare case that an imitation becomes a significant competitor to an innovator, but there are cases when they even surpassed them (MySpsce and Facebook). Many authors consider imitation as an alternative to innovation, the only difference being that imitators can never achieve technological leadership. As in the technological sector, innovations can be applied in other sectors as well, such as marketing. In marketing, it is crucial to recognize changes in trends and react to them in time. In implementing marketing campaigns, there is a need for originality, which is based on creativity. Creativity can also be found in imitation, in the sense that by imitating a competitor, the company adds value to the product so that it is unique and ultimately stands out from the competition. In this paper, the concepts of innovation and imitation as well as their types will be explained. Additionally, the Coca-Cola and PepsiCo corporations will be analyzed based on their marketing campaigns to determine which strategies of imitation or innovation have achieved a competitive advantage in the market.