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ADVG18073 Consumer Research Advertising Plan – Assignment #1 Secondary Research Report f or Honey Nut Cheerios Cereal Trinh Chau, Olivia Mazzei, Alina Udod, Junseo Lee, and Kay Wing Man Liu Professor: Erin Craig September 16th, 2019
2 Table of Contents Industry Market Situation Analysis ..............................................................................................3 A: Market Profile ......................................................................................................................3 I.
Yearly Sales..................................................................................................................3
II.
Market Share ................................................................................................................3
III.
Industry Growth .........................................................................................................4
IV.
Relevant Trends within the Industry...........................................................................4
B.
Environmental Profile .......................................................................................................5 I.
Technology ...................................................................................................................5
II. Social Factors ..................................................................................................................6 III.
Political Factors .........................................................................................................7
IV.
Economy ...................................................................................................................7
V.
Legal Factors ................................................................................................................8
VI.
Demographic .............................................................................................................8
Brand Analysis ............................................................................................................................9 A: Product Analysis (the 4 P’s) ................................................................................................9 B: Brand Positioning (USP/Unique Selling Proposition) .........................................................10 C: Brand Image and Reputation ............................................................................................10 D: Advertising Analysis ..........................................................................................................10 Competitor Analysis ..................................................................................................................11 A: Competitive Product Analysis: (The 4 P’s).........................................................................11 Competitor B: Frosted Flakes (Kellogg’s) ..............................................................................12 B: Competitive Brand Positioning (USP/Unique Selling Proposition) .....................................12 C: Competitive Image and Reputation ...................................................................................12 D: Competitive Advertising Analysis ......................................................................................13 Conclusion ................................................................................................................................14 APA References .......................................................................................................................15
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Industry Market Situation Analysis A: Market Profile I.
Yearly Sales
Yearly Sales of Breakfast Cereals Market
$1,500.00 $1,480.00 $1,460.00
$1,478.20
CAD million
$1,440.00
$1,453.30
$1,420.00
$1,430.30
$1,400.00
$1,410.90
$1,380.00
$1,388.50
$1,360.00 $1,340.00 $1,320.00
2013
2014
2015
2016
$1,373.20
2017
Euromonitor International (2018, November). Breakfast Cereals in Canada
2018
Breakfast Cereals market experienced sales of approximately $1.4 billion in 2018. It represents a decrease of $105 million or -7.1% versus 2013. The market has experienced year by year decrease within a range of -1.1% to -1.7% since 2013.
II.
Market Share Breakfast Cereals Segment Share: 2013 13%
87%
Hot Cereals: Share of market: % RTE Cereals: Share of market: %
Breakfast Cereals Segment Share: 2018 16%
84%
Euromonitor International (2018, November). Breakfast Cereals in Canada
Hot Cereals: Share of market: % RTE Cereals: Share of market: %
4 The Ready-to-Eat (RTE) Cereals segment is the largest segment accounting for 83.7% of share of market in 2018, and it is over 7 times larger than the Hot Cereals category. This segment has experienced a steady decline in segment share of close to -0.6 share points per year from 86.6% in 2013 to 83.7% in 2018. There is a steady conversion of close to 0.6 share points from the RTE Cereals market to Hot Cereals market. The Hot Cereals segment is accounting 16.3% of share of market in 2018. This segment has experienced a steady increase in segment share of close to 0.6 share points per year from 13.4% in 2013 to 16.3% in 2018.
III.
Industry Growth
Changing breakfast preferences and socioeconomics over the developing economies have been going about as the significant development drivers for the worldwide interest of the breakfast cereals. The expanding inclination of western dietary examples has additionally prompted the development of worldwide breakfast cereals to showcase in the recent past. The wide variety of reasonably priced breakfast choices may create barriers for the market growth, even though the breakfast cereals market has an opportunity to grow due to the ongoing product innovation in the flavors and inclusion of organic ingredients in breakfast cereals since people are interested in healthier food options.
IV.
Relevant Trends within the Industry
Busier lifestyles and rising health-consciousness negatively impact breakfast cereals (Euromonitor, 2018): Canadians have a busy lifestyle, and skipping or getting breakfast at a coffee shop is becoming more and more popular. Breakfast cereals segment does not go with this trend. Also, the health-conscious culture continues to rise in Canada, significantly impacting consumers’ choices of food and beverages. The artificial ingredients, that are common in many popular breakfast cereals’ brands, and the heavy processing and high sugar content in lots of products are adding to the negativity around breakfast cereals. The snacking trend gives both challenges and opportunities (Euromonitor, 2018): Canadian consumers started to move from eating regular meals to a mixture of meals and snacks over the last few years. The rising health-conscious trend also led to a greater focus on healthy snacking options. Breakfast cereals typically are packaged in large cardboard boxes and plastic bags and plagued by an unhealthy image, which can cause great challenges.
5 B. Environmental Profile I.
Technology ● Fact:
According to Christina (Christina, 2019), she stated Canadian Food Innovators funded research projects are continuously developing and supported by the Canadian Agricultural Partnership’s AgriScience Program which holds by Marie-Claude Bibeau, Minister of Agriculture and AgriFood. The program will develop new technology strategies to help with food processing challenges, such as automation, packaging, artificial intelligence, and blockchain technology. Which are collaborative projects. -
Opportunities:
This is a major opportunity because the breakfast cereals’ industry can improve on the food processing sector and can help strengthen the food system. ● Fact: Then, advertising allows to publish on digital and the consumer behavior data can be assessed from programmatic (Colin, 2019). All above thanks for the birth of digital technology. Moreover, the communication between the companies and customers are changing by the technological innovations (Thomas, 2017) -
Opportunities:
Therefore, the breakfast cereals’ industry takes an opportunity that is delivering a message to the consumer easier and directly as well as educate the consumer about a nutritional information from the products. Furthermore, the company can identify and improve itself, and as a bonus help achieve customer needs through programmatic technology. -
Threats:
The communication between the companies and customers are changing by the technological innovations (Thomas, 2017) It is not only beneficial for the company that can make it easier to share messages with consumers, it also can be a threat to the company. Since different categories of information are flooding the online world due to the prevalence of the internet. Misleading information, false news, or any negative feedback of the product from the internet can cause damage to the brand image of cereals. Also, can damage the image of cereals as a healthy breakfast. ● Fact:
6 Additionally, although automation food production has evolved in food industry over the years for helping to raise productivity, improve process control and hygiene. However, there is a new technology system in this field that is coming. “Food robotics is developing at a rapid speed. Within the next two or three years, robots could do almost anything. It would allow robots to take on more nuanced tasks, `` stated by Johnny Albertsen, CEO of Rosborg Food Holding A/S (Souvik, 2019). -
Opportunities:
It is an opportunity for the breakfast cereals’ industry to use it to help the breakfast cereals’ manufacturers to produce products faster and make it more accurate. At the same time, it can replace more labor work in handling the more difficult process, and as a bonus the company can reduce manpower expenditures. II. Social Factors ●
Fact:
Today, people are becoming more health-conscious and this population keeps rising day by day (Euromonitor International, 2018). Consumers are concerned about what they are putting inside their mouth and how it can affect them (Euromonitor International, 2018). These people are checking their food if it contains artificial ingredients, whether it relies on a heavy process or the sugar level/content is too high (Euromonitor International, 2018). -
Opportunities:
This can be identified as an opportunity because this provides chances for breakfast cereals companies to develop more new product lines. For example, breakfast cereals with sugar-free or free of artificial sweeteners that can be perceived as a healthy alternative where it can meet the consumer’s needs. -
Threats:
Due to people who are more serious about their healthy not only brings opportunities to the breakfast cereals’ industry, but also can cause a threat or multiple threats to it. Since some of the breakfast cereals’ products contain levels of sugar and artificial flavors, artificial ingredients, and sweeteners added, consumers would quickly acknowledge that as unhealthy. Which may create negative impacts on the breakfast cereals’ market and can reduce consumption. ● Fact:
7 As well, consumers in Canada especially the youth have started to shift their regular meals into eating a mixture of meals and snacks in the last few years. At the same time, informing health issues to consumers has made them more inclined to choosing healthier snacks. -
Opportunities:
Breakfast cereals’ markets would seek this as an opportunity because the breakfast cereals’ companies can innovate a new single-serve package for the breakfast cereals as well as repositioning the existing product in a strong health objective that will meet more what the snack lover wants. For example, an innovation of the breakfast cereals with high fiber and low sugar. III.
Political Factors ●
Fact:
The US-China trade war triggered by political factors, it has caused China to shift its dependence on US imports of grain to Canada earlier (Naomi & Jake, 2019). However, after the political incident of "Huawei chief financial officer Meng Wanzhou", China halted all purchases of Canadian crops, including grain (Naomi & Jake, 2019). This caused the price of the grain that had originally been supplied to the Chinese market to have no buyers (Naomi & Jake, 2019). -
Opportunities:
Since grain production is higher than market demand, prices have fallen. This is an opportunity for the breakfast cereals’ market since grain has played the main component of breakfast cereals. Therefore, manufacturers can buy raw resources or ingredients at low prices to produce the breakfast cereals. IV.
Economy ●
Fact:
Canada's national unemployment rate of 5.7% in August of 2019 and projected to trend will lightly increase around 5.80% in Dec of 2019, according to Statistics Canada (Agna, 2019). Also, this is the lowest unemployment rate in Canada since 1976 (Agna, 2019). -
Threats:
The high unemployment rate in Canada caused a threat for the breakfast cereals’ market since the decline in people’s purchasing power will hinder sales of the breakfast cereals. ● Fact:
8 As per Financial Post says, the Canadian dollar will continue to weaken from $0.77 to $0.74 (Victor, 2018). -
Opportunities:
The weak Canadian dollar can attract more foreign buyers who would want to buy Canadianmade goods (e.g. Post cereal), so this is an opportunity for the breakfast cereals’ market. -
Threats:
The Canadian dollar also is a threat to the breakfast cereals’ market as the breakfast cereals’ companies have to spend more money on some foreign-made materials (e.g. package materials) to produce the breakfast cereals. V.
Legal Factors ● Fact:
Health Canada recently announced new regulations for food labeling, where products must list how much sugar they contain, sources of sugars, and the percentage of the daily value for total sugars (Government of Canada, 2017). -
Opportunities:
This is an opportunity for the breakfast cereals’ market because some low-sugar or sugar-free breakfast cereals’ products can attract consumers who are more concerned and strongly aware of sugar content to their diet. Which thereby increase sales and profit. -
Threats:
Due to the new food labeling regulation, it can cause potential threats to the breakfast cereals’ market. For example, it will create a negative impression for the consumers who have a concern and strong awareness of sugar content. Which can cause a lost in sales of the breakfast cereals that contain high sugar. VI.
Demographic ● Fact:
According to McGraw-Hill Education Ltd (2018), the population in Canada will continue to grow up to 1% a year for the next couple of years. -
Opportunities:
9 As the population continues to increase it will create an opportunity for the breakfast cereals’ industry because there are available times where consumers will purchase breakfast cereals.
Brand Analysis A: Product Analysis (the 4 P’s) 1. Product: Honey Nut Cheerios is one of the many flavors that Cheerios have made. The ingredients to produce the product are healthy, there is no artificial flavors and colors. But just made with whole grains and real honey to add a boost of flavor into this breakfast food item. Often times, consumers would purchase this product for a breakfast meal for themselves or anyone in their household. The product is made simple and healthy to consume. It is targeted towards all age groups. As well, there is a mascot on the packaging of the product. The iconic mascot that is easily identified by many consumers is the bee. He draws people to the brand by his cute physical looks as well he makes a bold and important message to all consumers by educating them about bees and the issue revolving around the animal on the packaging and ads. 2. Place: Honey Nut Cheerios is a product of the brand Cheerios, and Cheerios is under the brand General Mills. General Mills is one of the top market shares in the cereal category. Cheerios can be found mainly at big brand grocery stores, for example, Walmart, Target, Costco, but now with its popularity consumers can purchase them at any grocery store. 3. Price: Honey Nut Cheerios is one of the most favorite and go-to flavors for consumers when it comes to purchasing cereal. Cheerios have produced over 12 flavors, but consumers would always go towards the Honey Nut Cheerios. In addition, the price for this product is marketed the same as the other flavors of Cheerios. The company has kept the pricing to a minimum, which makes it affordable and reasonable to all social classes. 4. Promotion: Cheerios is a brand that involves itself to help charities and communities, which creates a positive brand image for them. For example, in 2016 till today, Cheerios have continuous work hard to “bring back the bees” campaign. On their official website, https://www.cheerios.ca/bringbackthebees/ is where consumers and people in general can discover information about the campaign. Cheerios have promoted this campaign to be interactive for consumers to raise awareness of the social issue through social media, online (on their website) and traditional television. Honey Nut Cheerios is made from real honey which can lead consumers to understand why Cheerios created the campaign to help populate the bee population. To include, to emphasize the condition the bees are facing.
10 B: Brand Positioning (USP/Unique Selling Proposition) Cheerios is leaning towards those who are health conscious. Their USP or unique selling proposition is that Cheerios’ products are healthy, affordable, and tasty making it great for any target audience. C: Brand Image and Reputation Cheerios have been easily recognized for the past couple of years by consumers of all ages. Consumers have known this brand since they were a child. From an article, Adweek, Robert Klara included in his article a food blogger. Tori Avery, the food blogger who believes that “Cheerios is one of those iconic American brands that will always be with us”. Although Cheerios had two main purposes where it contained healthy ingredients to people and brought families to the breakfast table, they have alternated and/or changed their purpose of bringing families to the breakfast table. Still, they are still indeed bringing healthy benefits they want to emphasize it. For example, heart disease and cholesterol have been a major issue. Cheerios has their Honey Nut Cheerios and other products labeled as “can help lower cholesterol” with a heart shape symbol to represent the prevention of heart disease as well.
●The picture provides a clear insight into Cheerios’ current positioning. It is the most current, updated packaging label of Honey Nut Cheerios.
D: Advertising Analysis Honey Nut Cheerios is one of the top sellers because of its design layout and advertising. The design layout for Honey Nut Cheerios is attractive because of the choice of colours that the brand has designed for this product. For example, the colour combinations and as well the font/typography choice. In addition, the iconic bee that is placed at the front of every Honey Nut Cheerios cereal box. Also, on the box they have included “whole grain” that will catch consumers’ attention. For Honey Nut Cheerios their advertising is designed from print ads and commercials. They have multiple advertising messages about the product. For example, raising awareness about the bee conflict (bringthebeesback) and helping consumers become healthy with the packaging. In addition, they would include mission statements and slogans to their advertisements when relating to a social issue.
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Competitor Analysis A: Competitive Product Analysis: (The 4 P’s) Competitor A: Honey Bunches of Oats (Post) ● Product: The first competing product with General Mill’s Honey Nut Cheerios is Post’s Honey Bunches of Oats. This cereal is known for being very nutritious and looks to be a healthier alternative for other cereals on the market. The ingredients in this cereal include clusters of granolas, whole grain oats, almonds, dried bananas and a touch of honey of course. This cereal is a good option for any audience, although it is probably bought more by customers who are health-conscious and want a cereal that is giving them their needed nutrients throughout the day. In terms of the packaging of the product, it shows honey dripping from a honey dipper in the center of what looks like the sun; advertising the fact this cereal is a good thing to wake up to, with a little cartoon outline of a bee on the front of the cereal box as well. ● Place: Honey Bunches of Oats is a product made from the brand Post. In terms of where this brand sells their products, you could find their food items at any grocery store, such as Walmart, Fortino’s and NoFrills.
● Price: Honey Bunches of Oats is definitely a desired cereal by those who are looking for a cereal that does not contain a lot of sugar, is nutritious and has other good properties such as a good source of fibre and vitamins. Apart from this, it is also sold at a pretty reasonable price and is affordable to anyone, no matter what their income may be. ● Promotion: Post is a brand that promotes eating a filling, satisfying breakfast every single morning in order to stay energized and fulfilled throughout the whole day. Post’s objective is to serve consumers a filling, healthy 100% whole-wheat breakfast and promotes eating healthier cereal alternatives that contain fibre and less sugar than other options on the market.
12 Competitor B: Frosted Flakes (Kellogg’s) ● Product: The second competing product with General Mill’s Honey Nut Cheerios is Kellogg’s Frosted Flakes. This cereal is known for being a sporty-type of cereal for children who are involved in sports and need a breakfast or snack that could give them an energetic boost. The ingredients in this cereal include milled corn and sugar to give off that “frosted” look. Compared to many other cereals on the market, this is definitely a cereal targeted more towards children than to any other age group. In terms of the packaging of this product, it is always a bright royal blue, and shows the mascot, Tony the Tiger with his famous slogan, “They’re great!” on every cereal box. ● Place: Frosted Flakes is a product made from the brand Kellogg’s. In terms of where this brand sells their products, you could find their food items at any grocery store, such as Walmart, Food Basics and Fortino’s.
● Price: In terms of the price for this cereal, it is relatively inexpensive and is affordable for any family or individual, no matter what their household income may be. ● Promotion: Kellogg’s is a brand that promotes not only feeding the less fortunate, but also saving the planet as well. Kellogg’s donates food to food banks for people who cannot afford it and also has breakfast programs so that “two-million children across Canada and worldwide could get the best start to their day”.
B: Competitive Brand Positioning (USP/Unique Selling Proposition) ● Post’s Honey Bunches of Oats is advertising their product to customers who are looking for a cereal that is both satisfying and nutritious as well. ● Kellogg’s Frosted Flakes is advertising their product mostly to athletic children who are looking for an energizing, tasty cereal to eat before a sports event such as a hockey or soccer game.
C: Competitive Image and Reputation
13 ● In terms of their image and reputation, Post’s Honey Bunches of Oats is known to be a cereal for those who are interested in something that is not only a filling choice to eat in the morning but also something that is healthy and satisfying as well. Most consumers who purchase this product are probably looking for a cereal that has a good source of fibre and has less saturated or trans-fat and sugar content. This cereal also seems to be targeted towards an older audience of people who actually care about what they are putting into their body and want to make sure they are paying for something both nutrient-dense and delicious. ● In terms of their image and reputation, Kellogg’s Frosted Flakes is specifically known for its famous mascot, Tony the Tiger, who is an athletic tiger who encourages children to be energetic by eating this product and is also known by his famous catchphrase, “They’re great!” Therefore, this cereal is looked at as a sporty-type of cereal that helps kids have enough energy to get through the day and also participate in extracurricular activities such as playing sports.
D: Competitive Advertising Analysis ● Post’s Honey Bunches of Oats is a popular choice among most consumers due to the fact that it is both a healthy choice but also comes in a variety of different flavours as well, such as honey-roasted, raisin medley, vanilla bunches, bananas bunches, pecan bunches and also options gluten-free and high protein options as well. Also, Honey Bunches of Oats is also made from a brand that is very health-aware and makes other cereals that are concentrated on being 100% whole-wheat and nutrient-dense as well. ● Kellogg’s Frosted Flakes advertises their products to children by having fun, energetic commercials with their famous mascot, Tony the Tiger, who encourages kids to go outside and be athletic with the help of a bowl of Frosted Flakes. The brand Kellogg’s is also a brand that is very well-known and sells other cereals such as All Bran, Froot Loops, Rice Krispies and Special K. The brand’s objective with their sales is to help the less-fortunate by donating food and having “breakfast programs” to feed those in need. As well, they are also committed to helping the planet by reducing their use of greenhouse gases, emissions, water-use and overall want to reduce waste and make the earth a cleaner place. Statement of Main Issue Rising health-conscious people is a big change of the trend, it can lead to both a threat and an opportunity to Honey Nut Cheerios cereal. Efforts are needed to respond to customers’ needs, invest in product development, and create a healthy brand image to take this change as an opportunity.
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Conclusion Sales of Breakfast Cereals market have been falling since 2013, but Hot Cereals' market share continues to rise. Honey Nut Cheerios cereal can expect sales growth by developing products related to this category. Besides, as the population is expected to increase, this can be a factor in sales growth. Honey Nut Cheerios is a product that is consumed by various age groups and is reasonably priced. As more people are pursuing a healthy diet regardless of age, Honey Nut Cheerios needs to develop into healthier products and improve the image to meet customer’s needs. With the development of digital, there are many opportunities to communicate with customers. Also, it has become easier to grasp consumer behavior patterns and needs to be actively improved according to the opinions of consumers. Due to the characteristic of the online media, misleading news has possibilities to damage the image of the product, so proper use and management is required. To turn the Snacking trend into an opportunity, efforts are needed to change the unhealthy image of a snack. As grain prices are falling, the nature of Honey Nut, which contains a lot of grain, will help price competitiveness. Taking advantage of the new regulations for food labelling issues, Honey Nut Cheerios can use this to build an image of healthy cereals. Honey Nut Cheerios is carrying out various promotions such as using mascots and so on for the brand image. However, competitors are also being conducted similar promotions, so Honey Nut's competitive promotion is needed. In conclusion, various trends can be a risk or an opportunity, depending on the strategy Honey Nut Cheerios takes.
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APA References
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