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KELLOGGS, GENERAL MILLS CUT BACK ON CEREAL PROMOTIONS
Published October 24, 1994
"With the two giants of the cereal world," Kellogg Co. and General Mills, "making good on their promises to cut back on promotions, smaller players are scurrying to gain market share with price specials and give aways, and consumers may benefit." Kellogg said that its decision to but back on "deep-discount coupons and freebies took a big spoonful out of its third-quarter sales." This could prompt Kellogg "to dish up more big-savings promotions in the future." But for now the company says it will be "sticking to a pledge made earlier this year of cutting back on promotional spending." Analysts estimated the decline in Kellogg's volume of U.S. "ready-to-eat cereal" was 4% but said this was offset by a rise in international volume (Reuters/CHICAGO TRIBUNE, 10/23).