In the late nineteen-twenties, two companies—Kellogg and Post—dominated the market for packaged cereal. It was still a relatively new market: ready-to-eat cereal had been around for decades, but Americans didn’t see it as a real alternative to oatmeal or cream of wheat until the twenties. So, when the Depression hit, no one knew what would happen to consumer demand. Post did the predictable thing:...
“No matter how big your advertising spending, small groups of consumers on a tiny budget might hijack the conversation,” he said. “So this internet thing is much bigger and more interesting than just finding successors to TV advertising.” CMO of Unilever, here.