WHEATIES Case Study
WHEATIES: STRATEGY FOR REINVIGORATING THE ICONIC BRAND.
Wheaties iconic orange box featuring athletes, many of them legends in their sports and the timeless slogan “ Breakfast of Champions ” pioneered and ruled ready to eat cereal market, the 91 year old brand now ranks 17th among the US cereal brands. Over the preceding few years, the brand has experienced a steady decline in its market share from high single digits to barely 1% market share. Wheaties needs to come up with a comprehensive marketing strategy to revive its existence and demand.
PRODUCT REFORMULATION: Wheaties pioneered ready to eat cereal isle followed by the other companies in the US cereal market. However, the challenge for cereal marketers is not only to leverage the traditional bond with breakfast cereal but also to offer innovative products that suit the diverse tastes and eating habits of today’s cereal consumers, if they want to consistently attract consumers and survive competition. The company has a clear brand identity “The Breakfast Bowl” but it failed to retain the interest of its customers by concentrating less on product innovation and its taste and paying more attention to their laurels. Wheaties needs to come up with product extensions and line extensions else the brand would be unsustainable.
Product Extensions:
Wheaties Hot Cereal: Survey research show more than 60% of American consumer eats hot cereal. General Millers Inc. owns the Wheaties as well as many other brands has not tapped the hot cereal market yet and hence it’s a good opportunity for the company as well as Wheaties.
Wheaties Cereal/Protein Bars: Time is valuable and customers appreciate the products that provide value and save time. Sit down breakfast culture is now replaced by on the go cereal bars an increasing number of consumers treat breakfast as an on the run or to go. Protein Bars definitely would draw attention of the health conscious target market.
Wheaties Snack Mix: All-day snacking replaces sit-down
Wheaties iconic orange box featuring athletes, many of them legends in their sports and the timeless slogan “ Breakfast of Champions ” pioneered and ruled ready to eat cereal market, the 91 year old brand now ranks 17th among the US cereal brands. Over the preceding few years, the brand has experienced a steady decline in its market share from high single digits to barely 1% market share. Wheaties needs to come up with a comprehensive marketing strategy to revive its existence and demand.
PRODUCT REFORMULATION: Wheaties pioneered ready to eat cereal isle followed by the other companies in the US cereal market. However, the challenge for cereal marketers is not only to leverage the traditional bond with breakfast cereal but also to offer innovative products that suit the diverse tastes and eating habits of today’s cereal consumers, if they want to consistently attract consumers and survive competition. The company has a clear brand identity “The Breakfast Bowl” but it failed to retain the interest of its customers by concentrating less on product innovation and its taste and paying more attention to their laurels. Wheaties needs to come up with product extensions and line extensions else the brand would be unsustainable.
Product Extensions:
Wheaties Hot Cereal: Survey research show more than 60% of American consumer eats hot cereal. General Millers Inc. owns the Wheaties as well as many other brands has not tapped the hot cereal market yet and hence it’s a good opportunity for the company as well as Wheaties.
Wheaties Cereal/Protein Bars: Time is valuable and customers appreciate the products that provide value and save time. Sit down breakfast culture is now replaced by on the go cereal bars an increasing number of consumers treat breakfast as an on the run or to go. Protein Bars definitely would draw attention of the health conscious target market.
Wheaties Snack Mix: All-day snacking replaces sit-down