06/17/2024

Learning from Kellogg’s “Let Them Eat Flakes” Moment

In today's world, negative media responses are quick to explode

When Kellogg CEO Gary Pilnick agreed to appear on CNBC’s Squawk on the Street show earlier this year, he didn’t go into the interview expecting to generate calls for his head. The plan was to talk about his company’s cereal-for-dinner ad campaign amid news reports of the impact of inflation on household food budgets.

"The cereal category has always been quite affordable, and it tends to be a great destination when consumers are under pressure," Pilnick said. "If you think about the cost of cereal for a family versus what they might otherwise do, that's going to be much more affordable."

After Pilnick finished explaining how the Kellogg's brand can help consumers mitigate the impact of inflation on food budgets, CNBC asked if his cereal-for-dinner message might somehow "land the wrong way" with consumers. The executive said he didn’t think that would be the case, noting that 25 per cent of cereal consumption already takes place outside of breakfast and that this appears to be a growing trend.

Please select this link to read the complete article from Ivy Business Journal.