Eco 550 week 6 assignment 2
Operations Decisions
[Type the document subtitle]
Dr. Castorina
Eco 550
There are a lot of frozen food and low calorie microwavable food options available in the market. A few years ago people were not able to purchase the microwavable food but with the increase in income, people can now afford an easier lifestyle and can change the way they cook breakfast, lunch, and dinner. Because microwavable foods are easy to cook, people are replacing traditional cooking methods to microwavable foods, I for one know that it makes my life so much easier to do this at least once or twice a week. A few of the companies that are manufactured are Lean Cuisine, Healthy Choice, Stouffers, Marie Callendar etc. But the two we will focus on are Lean Cuisine and Healthy Choice. They both are competitors in the market of frozen foods, but more specifically they are competitors in the low calorie frozen food department. Lean Cuisine was started in 1981 and has since then grown its market in US, Canada and Australia. The company is owned by Nestle and offers variety of frozen foods and is one of the leading choices for low calorie food. Healthy Choice, the product manufactured by ConAgra is also one of the leading low calorie frozen food suppliers. Healthy Choice is the biggest opponent to Lean Cuisine (foodbusinessnews.net).
As far as the market sector: it is decided by three criteria which are Behavioral, Psychographic and Profile variables. Behavioral variables are those that are wanted from the product, and buying patterns such as frequency and volume of purchase which might be considered the fundamental basis of any company. The Psychographic variables are used when the company’s’ purchasing behavior correlates with the personality or lifestyle of customers. There are consumers who have different personalities and their lifestyles are more indecisive towards a specific product. Their choices are determined by their economic and social standing so with that being said a
[Type the document subtitle]
Dr. Castorina
Eco 550
There are a lot of frozen food and low calorie microwavable food options available in the market. A few years ago people were not able to purchase the microwavable food but with the increase in income, people can now afford an easier lifestyle and can change the way they cook breakfast, lunch, and dinner. Because microwavable foods are easy to cook, people are replacing traditional cooking methods to microwavable foods, I for one know that it makes my life so much easier to do this at least once or twice a week. A few of the companies that are manufactured are Lean Cuisine, Healthy Choice, Stouffers, Marie Callendar etc. But the two we will focus on are Lean Cuisine and Healthy Choice. They both are competitors in the market of frozen foods, but more specifically they are competitors in the low calorie frozen food department. Lean Cuisine was started in 1981 and has since then grown its market in US, Canada and Australia. The company is owned by Nestle and offers variety of frozen foods and is one of the leading choices for low calorie food. Healthy Choice, the product manufactured by ConAgra is also one of the leading low calorie frozen food suppliers. Healthy Choice is the biggest opponent to Lean Cuisine (foodbusinessnews.net).
As far as the market sector: it is decided by three criteria which are Behavioral, Psychographic and Profile variables. Behavioral variables are those that are wanted from the product, and buying patterns such as frequency and volume of purchase which might be considered the fundamental basis of any company. The Psychographic variables are used when the company’s’ purchasing behavior correlates with the personality or lifestyle of customers. There are consumers who have different personalities and their lifestyles are more indecisive towards a specific product. Their choices are determined by their economic and social standing so with that being said a
References: www.ibisworld.com. Retrieved on August 09, 2014. http://www.foodbusinessnews.net/articles/news_home/Financial-Performance/2013/08/Nestle_seeks_to_fatten_up_Jenn.aspx?ID={D6AD78D0-5F26-40FA-A4D3-163828854B67}&cck=1 Retrieved on August 11, 2014. McGuigan, J. R., Moyer, C.R., & Harris, F.H. (2014). Managerial Economics: applications, strategies and tactics: 13th edition. Mason, Ohio: Cengage. OTTAVIANO, G. P., & THISSE, J. (2011). MONOPOLISTIC COMPETITION, MULTIPRODUCT FIRMS AND PRODUCT DIVERSITY. Manchester School (14636786), 79(5), 938-951. Serwer, A. E., & Sookdeo, R. (1994). HOW TO ESCAPE A PRICE WAR. Fortune, 129(12), 82-88.