A Nestle breakfast cereal (market opportunities, product strategy and Essay

A Nestle breakfast cereal (market opportunities, product strategy and next steps) - see ExampleOn the other hand, market remains competitive with competition from pastries, cereal bars and biscuits as well as porridges. It is interesting to note that the consumers everyplace 50, given their need for greater convenience and behavior of eating more at home whitethorn be inclined towards angry cereal products. These hot cereals offer an even more convenient breakfast option for consumers along with a more portable pot format for the cereal. They also reflect the implanted cultural tradition of eating hot oats or hot biscuits across continental Europe (Culliney, 2013). Considering that individuals over 50 tend to prescribe to eld-old traditions, this may seem just the right option. Our competitor, Kelloggs, has already stepped into this market by providing its Special K Nourish product (Culliney, 2013). Considering that consumers over 50 years tend to accustom the zap or steam for the preparation of their cereals, hot cereals provide just the right opportunity to capitalize this. Furthermore, targeting the mental health of consumers over 50 presents a vast opportunity for breakfast cereals sellers. Although manufacturers have traditionally focused on good health of the brain and heart by providing execrable cholesterol, sugar or fats to this age bracket, it is now time to shift the focus towards catering to the cognitive areas of development in these individuals. Deterioration in mental health, such as Alzheimers disease, is common in the older segment however, few companies have made claims in the area (Culliney, 2012). Considering that individuals over 50 years constitute a major proportion of purchases of breakfast cereals, a growth in the market for fortified cereals is anticipated. Further growth can be achieved by altering the ingredients used in these cereals. For instance, omega-3, linseed, chia seeds, flax seed and poppy seeds could be added to en rich the nutritional value of these breakfast cereals (Culliney, 2012). Fortified cereals that include special ingredients such as zinc, iodine and GABA could be provided to this age group. Most importantly, segmenting via age could be a misleading idea. It is wrong to assume that consumers aged 55-75, for instance, have similar needs because they do not (Culliney, 2012). For instance, it would be utile to create sub- segments in this age group such as thrivers, seniors, elders and survivors. Furthermore, individuals over 50 dislike the idea of being overtly targeted at on the radix of their age (Hought, 2008). Therefore, marketing should be aimed at health benefits or other perceived benefits of the cereal rather than age. 2. Product Strategy Nestle has not so far tapped the highly profitable segment of hot cereals. This comes as a surprise since our competitor, Kelloggs, has already launched its hot cereal pots which could lure consumers over 50 looking towards microwave cereal s. Therefore, our company shall introduce an entirely new product named Nestle Live Long Hot Pots which would offer greater indulgence for our over 50 consumers who lead longer time having breakfast. This product would not only be low in terms of calories but also low in sugar and, therefore, condom for individuals with diabetes in this target group. However, low calories shall not be the thrust of this product as consumers want high nutritional value and not just low