Analysis of Frozen Food Market in the US Essay

1. This change in productivity has turned the American food business into an assembly line style industry. The elements that feed this productivity increase are the same as the factors found in the text (Stevenson, Page 60). The industry has standardized their methods, increased their capital, improved quality, put supportive management in place, and developed new technologies. For example, the beef market is very large in this country. In order

The following case study is in regards of economic market structure. In the world of economics all businesses or companies rather, are categorized in certain market structures such as monopoly, oligopoly, or perfect competition, for instance, the market structure for restaurants. Most restaurants are considered monopolistic competition. Being that they all sell and serve food. They have to have instances that vary such as price, logos, servers, locations, décor, types of food, and hospitality.

The change in consumer’s real household disposable income and increase in demand for take away, restaurant foods can have a major impact in this particular industry.

Hoyer, W. D., MacInnis, D. J., & Pieters, R. (2012). Consumer Behavior, 6e, 6th Edition.

Firms within the fast food industry fall under the market structure of perfect competition. Market structure is a classification system for the key traits of a market. The characteristics of perfect competition include: large number of buyers and sellers, easy entry to and exit from the market, homogeneous products, and the firm is the price taker. Many fast food franchises fit all or most of these characteristics.

We are all University Students that currently live in Halifax Nova Scotia, but have all grown up in various places. Two of our members are from Ontario and the remaining members from various parts of China. Given this geographical separation, our group has some obvious diversity in our individual consumer profiles. This is partly due to our different cultures and values. Our families also greatly influence our contrasting consumer profile - with our differing ethnical backgrounds, different social classes and varying religions. Conversely, we all fit into the age bracket of 18-25 so share some similar purchasing behaviour as millennial consumers (Kardes et la., 2011, pg 38). We have all been apart of many of the same world changes, such as 911 and global warming. This greatly sways our prespective on which products we can identify with and our preferences. Likewise, we all are at the same life stage (Kardes et la., 2011, pg 8). We are all young adults, finishing up university and starting our independent lives with limited disposible incomes. We tend to make most of our purchases online, allowing us to find the best deals in the least amount of time. Most of us find that food is our number one expense and value the bonds people make while sharing a meal. Many of us find it difficult balancing our busy lifestyles and school, but work to covercome these challenges. All of these inflencers guide our purchasing habits.

Consequently, most low-calorie microwavable firms that are producing healthy meals has an objective of driving additional purchase of profits from other baby boomers that are representing over 60% of the category volume. This is because they are for an added marketing approach specifically effective regarding competitive pricing so that managers focus on its retail strategy (McGuigan, Moyer & Harris, 2014). As a result, Nestle, which is the producer of Lean Cuisine, has recorded a loss from contracting a low- calorie frozen, microwavable food industry.

When examining market structure, one must look at several factors including the quantity of firms, type of products offered, barriers to entry, pricing power and non-price competition. In order to define the fast food market, all of these factors must be considered. Due to competition, price wars, and barriers to entry in the fast food market, market structure becomes slightly muddled and

In today’s world of various products and services, businesses aim to excel and lead the competition by marketing the most number of consumers, which is a full time endeavor of business. To survive in the market, a firm or an organization has to be constantly innovating and understand the latest consumer trends and tastes. Marketers need to understand consumer behavior because the decision-making process for consumers is anything but straight forward. Consumers’ behaviors and their purchasing patterns is a huge advantage to understanding the way customers think and the reason for their purchases. Therefore, the study of consumer behavior is important because it allows the

Market structure is when an industry has a number of firms making identical products. An industry’s market structure depends on the how many firms are in that in industry and how they will compete in the market.

Understanding consumer buying behavior entails marketing, relationships, and consumer behavior. Consumer behavior comprises all the consumer decisions and activities connected with the choosing, buying, using and disposing of goods and services. Marketers must pay very close attention to consumer behavior that occurs before the purchase and after the particular product has been used. Studying consumer habits is one of the steps in marketing search and analysis. In addition to other basic principles of consumer buying habits, marketers also need to study the decision and actions of real people. Until recent history the study of consumer behavior was focused on generalized consumer decisions. With

Firms within the fast food industry fall under the market structure of perfect competition. Market structure is a classification system for the key traits of a market. The characteristics of perfect competition include: large number of buyers and sellers, easy entry to and exit from the market, homogeneous products, and the firm is the price taker. Many fast food franchises fit all or most of these characteristics.

* Reducing the calorie / kilojoule (energy) and sugar content of Salads Plus muffin and yoghurt menu items.

The field of consumer behavior studies how consumers (individuals and groups) select, buy, use, and dispose of goods, services, ideas to satisfy their needs.

The value of studying the consumer behavior is that it gives vital information to an organization for designing an effective marketing strategy. The way a consumer thinks, perceives, decides and is influenced is important in designing of promotional campaigns for any product.