SWOT analysis for Cereal bar market
Strengths
Meets need for both a healthy and convenience snack, especially targets those who miss breakfast
Popularity increased rapidly over past few years – 66% growth 2002 – 2007. Mintel predicts market will be worth £420m by 2012 from £287m in 2007. (Marketing magazine)
Popularity amongst parents for children – alternative to crisps and sweets e.g CoCo pops bars
Increase in number of products containing only natural ingrediants and no artificial additives
Some contain more fruit than governments recommended five-a-day
Weaknesses
Sector becoming confusing to the consumer with new launches from cereal, confectionary and biscuit brands
Not a staple food unlike cereal; as food bills rise and especially at moment if consumers are cutting back, sales may be affected. Porridge sales in UK especially have risen.
Real health benefits questionable – high levels of added sugar – Nutri-Grain is a third sugar. Future issue of level of perceived health benefits
Men less likely to purchase and older shoppers unconvinced
Opportunities (for us)
Target especially this younger male business segment
Market our fresh, simple, product that can be distinguished easily
Cereal