7. According to McCluskey, how are changing consumer preferences affecting demand for breakfast cereals? Answer: 8. What do you think changed consumer's minds about buying sweetened breakfast cereals? Answer:
7. According to McCluskey, how are changing consumer preferences affecting demand for breakfast cereals? Answer: 8. What do you think changed consumer's minds about buying sweetened breakfast cereals? Answer:
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Please answer the questions based off the reading
![..| 1 . 2 . 3
4
6 . 7 . |
"There has been a generational shift. The processed food staples that were popular
a generation ago are not considered healthy enough for [consumers] to feed to their
own kids. This is bad news for unhealthy commonly consumed foods, such as highly
sweetened breakfast cereals that are marketed to children. In fact, the breakfast
cereal category is indicative of many recent changes in consumer preferences. The
cereal business has been declining for more than a decade as consumers increasingly
prefer lower sugar and higher protein options. In contrast to the cereals category,
yogurt has hugely expanded as a category which markets its high protein
content. A related issue is that many parents are trying to raise super children.
Hence they are willing to pay more for specialized sports foods, such as 100% whey
protein to put in smoothies."
Greek
Jill McCluskey, "Changing Food Demand and Consumer Preferences," 2005
7. According to McCluskey, how are changing consumer preferences affecting
demand for breakfast cereals?
Answer:
8. What do you think changed consumer's minds about buying sweetened breakfast
cereals?
Answer:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F648f3ab6-6bca-43f4-a62e-5c3c7a9b7cdb%2F0af500d8-8e66-4061-85dc-85b5f5c43959%2Fwvb3q7s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:..| 1 . 2 . 3
4
6 . 7 . |
"There has been a generational shift. The processed food staples that were popular
a generation ago are not considered healthy enough for [consumers] to feed to their
own kids. This is bad news for unhealthy commonly consumed foods, such as highly
sweetened breakfast cereals that are marketed to children. In fact, the breakfast
cereal category is indicative of many recent changes in consumer preferences. The
cereal business has been declining for more than a decade as consumers increasingly
prefer lower sugar and higher protein options. In contrast to the cereals category,
yogurt has hugely expanded as a category which markets its high protein
content. A related issue is that many parents are trying to raise super children.
Hence they are willing to pay more for specialized sports foods, such as 100% whey
protein to put in smoothies."
Greek
Jill McCluskey, "Changing Food Demand and Consumer Preferences," 2005
7. According to McCluskey, how are changing consumer preferences affecting
demand for breakfast cereals?
Answer:
8. What do you think changed consumer's minds about buying sweetened breakfast
cereals?
Answer:
Expert Solution
Step 1
Market demand for a commodity can change as a result of a change in consumers income, their tastes and preferences, the price of related goods and the number of consumers in the market.
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