Questions: Coffee, donuts, eggs and bacon, and Pop Tarts all can fulfill the same basic need for subsistence at breakfast time that Kellogg's provides with its cereal. This is an example of what industry force?

Coffee, donuts, eggs and bacon, and Pop Tarts all can fulfill the same basic need for subsistence at breakfast time that Kellogg's provides with its cereal. This is an example of what industry force?
Transcript text: Coffee, donuts, eggs and bacon, and Pop Tarts all can fulfill the same basic need for subsistence at breakfast time that Kellogg's provides with its cereal. This is an example of what industry force?
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Solution

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The answer is: Substitute Products.

Explanation:

  1. Substitute Products: This term refers to products or services that can fulfill the same need or function as another product. In this context, coffee, donuts, eggs and bacon, and Pop Tarts are all alternative options to Kellogg's cereal for breakfast. They serve the same basic need of providing sustenance in the morning, making them substitutes.

  2. Industry Forces: In the context of industry analysis, particularly using frameworks like Porter's Five Forces, substitute products are considered a significant force. They can impact a company's market position by offering consumers alternative choices, potentially reducing demand for the original product.

  3. Impact on Kellogg's: The presence of these substitutes means that Kellogg's must consider the competitive landscape not just from other cereal brands but also from a wide range of breakfast options. This can influence their pricing, marketing strategies, and product innovation to maintain consumer interest and market share.

In summary, the presence of substitute products like coffee, donuts, eggs and bacon, and Pop Tarts represents a competitive force that Kellogg's must navigate within the breakfast food industry.

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