4.1 Market Description
4.2 Market facts
The best selling children’s cereal brands are GM Lucky Charms, GM Count Chocola, Post Marshmallows Alphabits, Q Marshmallows Safari and Rice Krispy.
4.3 Market Size
The sales of Kellogg’s product nearly $7.3 billion world wide (including the biggest market in U.S and U.K) in the Ready-To-Eat 2010.
4.4 Market Growth
4.5 Market Demand
Market researcher in 2006 stated that around 83% of Americans as well as other countries feel that their dietary will balance if there is a connection between the diet and consumption of product that contains nutraceuticals. Furthermore, demand for healthy product rose from 43.4% to 71.8%, according to the American Customer Satisfaction Industry (ACSI)LLC. Due to the potential growth of the market demand, Kellogg’s and other competitors are ready to participate in the market race to satisfy the consumer needs.
4.6 Market Trends
Majority of consumers nowadays have realized that they need to consume healthy products, particularly healthy foods or meals to maintain their healthy lifestyles. The mass consumption of healthy product and the variety of product being offered in the marketplace has become a new trend in the market now. In order to penetrate the market share, it is either the company follow the trend or setting up new trend so that their product will be well accepted by the consumers. Realizing the facts, Kellogg’s has determined to follow and set up new trends at a time which is continuously producing health product and introducing the new product with a surprising flavor( fruit flavor in yogurt) which will attract the children below 12 years old.
4.7 Market Growth Potential
4.8 Market Opportunities
Kellogg’s recognize the opportunity to stretch brand by investment that would to revitalize it. Extend to develop its growth phase, help to delay onset of the maturity phase, international expansion is the bigger area for growth for Kellogg’s, if...