http://www.thomasnet.com As a marketer you will want to conduct research about the companies that you are promoting a product for, it’s consumers and the company’s competitors. The reasons for this are to give those companies insight that will help them to make better business decisions. The research that I have done over the past six weeks will help to determine how viable our product will be. The research has will help my company to find their target market and get opinions and feedback from their consumers. With the onset of COVID-19 the United States appetite for snacking has grown considerably. With more people working from home these days this has changed the way consumers eat. A recent Harris Poll shows that 46% of adults are snacking more since the onset of COVID. By spending more time at home consumers are choosing to snack more instead of making meals. Those consumers are also choosing more healthier snacking options. We are also noticing that the number of snacking manufacturers has shrunk. This is because the larger snacking companies have overtaken the smaller ones. We are also seeing a growing trend of startup companies geared towards healthier snacking options. Emerging brands are expected to establish multi-category and multi-flavor options. “There is great growth opportunity and it is expected to see more entrants into the category.” Consumers are also pushing companies to be more responsible in everything they do, from social responsibility to sustainability. A great example of this is General Mills introduced Nature Valley Crunchy granola bars with 100% recyclable wrappers. Consumers can bring them wrappers to How2Recycle Centers located in grocery stores across the nation. In addition to recyclable wrappers pre-filled displays are made with recyclable materials that helps to reduce retail labor hat would be needed for display setup and dismantle. These displays are designed to remain on the pallet they are shipped on and placed directly on the sales floor. The Harris polls expects snacking to be part of the “new norm”. “Ultimately, 65% surveyed believe the current pandemic will have a long-term impact on how we consume snacks as a society.” With consumers getting back to work with more mobile lifestyles we should see convenience-sized, single-serve options take off. PepsiCo is one of the largest beverages and snacking companies around the world. It is of the upmost importance that they uphold ethical and legal standards set around the globe. Members of the company’s organization that oversee this department need to remain persistent so make sure no violations are being made. With any promotions that are done they need to be sure that no false claims are made. Pepsi needs to be sure to follow FDA regulations. While creating a new market proposal for my product I didn’t come across many limitations. The biggest concern we have is the increasing cost of food commodities and transportations in the post COVID-19 era. The prices for corn, soybeans and wheat have hit their highest level in eight years. (Oller, 2021, Rising costs a top concern of food and beverage leaders, survey finds) Many of the larger food and beverage companies have passed along these higher prices to it’s consumers. With the ongoing effects of COVID companies are struggling with employee recruitment and retention. Cybersecurity is also a concern for businesses right now. As the food and beverage industry has been a popular target for hackers. The pandemic has served as a springboard for product innovation and growth. (Oller, 2021, Rising costs a top concern of food and beverage leaders, survey finds) References: Advis, E. 2021, March 3rd. 2021 Snack Trends Are Looking Healthy and Upcycled. https://www.foodprocessing.com/articles/2021/snack-trends/ Drury, Amy. 2021, September 10th. Market Research. https://www.investopedia.com/terms/m/market-research.asp Elmore, Elizabeth. 2021, September 17th. Preparing a SWOT Analysis. https://learn.snhu.edu/d2l/le/dropbox/851679/1448144/DownloadSubmissionFile?fid=49934561&sid=20429978 Mazars USA. 2021, July 12th. Mazars Unveils 2021 US Food & Beverage Industry Outlook. https://www.prnewswire.com/news-releases/mazars-unveils-2021-us-food–beverage-industry-outlook-301328559.html Oller, Samantha. 2021, July 15th. Rising costs a top concern of food and beverage leaders, survey finds. https://www.fooddive.com/news/rising-costs-a-top-concern-of-food-and-beverage-leaders-survey-finds/603268/ PCA. 2021, April 29th. Tracking 2021 Consumer Snack Trends. https://www.packagingcorp.com/snack-food-trends-2021
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