As a global manufacturer and marketer, it is important for Generals Mills to innovate and develop new products to satisfy customers’ need in order to maintain market shares and continuous growth. The company provides consumer foods such as ready-to-eat cereals, yogurt, ready-to-serve soup, dry dinner, and so on. General Mills operates both domestic and international, but for the new product we created will only focus on the US market. As the increasing awareness of healthy eating and increasing demand for organic food, we decide to create a new product of the breakfast cereals by adding traditional Chinese coarse grains and other nourishment ingredients into oats. We try to create health-oriented oatmeal for sub-health people and help prevent diseases for healthy people. First of all, we need to analyze the cereals industry to find out opportunities and threats. Second, we will also determine the position of the company to ensure its strengths and weakness. In addition, we will define the target markets and objectives. Finally, we will describe the ways we will use to make our product expand successfully.
The breakfast cereals industry in the United States is growing by the changing lifestyles and the awareness of the importance of healthy eating. Cereal manufactures are providing more natural and organic food products which can lead to a healthy diet. The ingredients of Cereal production in the United States consist of wheat, flour, corn, and sweetener and so on. The United States is the leader in the role of breakfast cereals consumption. It contributed 42.2% of the total market (Market Line).
The breakfast cereals industry consists of hot cereals and ready-to-eat cereals. The ready-to-eat cereal is the largest part of cereals industry which accounts for 88.6% of the market, and the hot cereals accounts for the remaining 11.4% in 2011 (Market Line). The United States cereals industry consists of five major players: Kellogg...