Increasing your company’s market share usually consists of tough, get-your-hands-dirty marketing strategy that includes product, pricing and promotional changes. However, every once in a while, a competitor drops an opportunity in your lap.
Post currently finds itself in the aforementioned position with its Shredded Wheat Brand and is taking advantage of the opportunity to steal market share from Kellogg’s. For those of you who are new to The Side Note, we reported in April on Kellogg’s run-in with the FTC for their Frosted Mini-Wheats advertising claims.
Those at Post acted quickly and are drawing attention to Shredded Wheat’s unchanged recipe. I was surprised to learn that Shredded Wheat has been made the same way since 1892. I think this is a good attempt at comforting any mothers who may have concerns about a cereal that is similar to Kellogg’s version of Frosted Mini-Wheats.
Post has accompanied the new print advertisements with a Web site- ThePalaceOfLight.com – which pokes fun at being “anti-progress.” This is a very good use of digital media. I like that Post is mixing in facts with humor. My favorite video is the “Speech On Progess.” (Below)
The ability of Post to respond quickly and strike while the iron is hot, further demonstrates the importance of knowing your competitive landscape and creating an appropriate angle to promote your product.