Take the cereal business, for example. General Mills actually grew from #2 to #1 in market share the last few years. But the cereal category declined $4 billion dollars from 2000 to 2015, so it didn’t matter. In fact, total sales at General Mills has declined for 15 of the last 16 quarters.
General Mills highlights three things that are the root of the problem of the axiom “Be #1 or #2 in your category.”
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