netrashetty
Netra Shetty
The Kerr-McGee Corporation, founded in 1929, was an energy company involved in the exploration and production of oil and gas. On June 23, 2006, Houston-based Anadarko Petroleum Corporation agreed to acquire Kerr-McGee in an all-cash transaction totaling $16.5 billion plus the assumption of $2.6 billion in debt. Kerr-McGee shareholders voted to approve the offer on August 10, 2006 and Kerr-McGee ceased to exist as an independent entity. As a result of the takeover, all operations (with the exception of Tronox which was spun off as a separate company in 2005) moved out of Oklahoma.
The Hong Kong market for crisps and snacks is dominated by potato chips, nuts and dried fruits (2003, ). (2001) claims that the potato chip sector of the Hong Kong crisps and snacks market is in a boom. Potato chips were valued at 30 percent of Hong Kong's total snack food consumption between 1997 and 1998 as revealed by the Foreign Agricultural Service (). Dried meat and seafood snacks are also gaining popularity but local manufacturers fail to suffice the growing consumer demand for these products ( 2003). Dried seafood and meat products established a growth rate of around 15 to 20 percent growth in 1999 and are continuously gaining a large market share (2001).
Snack Foods
Historical Development
Potato Chips
- Rapid growth over 5 years
- Aggressive marketing by suppliers
- Foreign product dominates
- Other Asian products have done
well because of attractive packaging
and formulation to Asian tastes
Dried Meat Products
- Substantial growth over 5 years
- Local product dominates
- Other Asian products have done
well because of attractive packaging
and formulation to Asian tastes
Dried Seafood Products
- High growth over 5 years
- Local product dominates
- Other Asian sourced products
have done well because of
attractive packaging and
formulation to Asian tastes
Figure 2: Hong Kong Snack Food Market Brief (2001).
Japanese manufacturers and local producers are the leading providers of potato chips in Hong Kong while exporters from the West dominate the dried fruits and nuts sector particularly pistachios as well as serve as secondary producers of potato chips ( 2003). Moreover, most of Hong Kong’s people still abide by the traditional Chinese culture’s preference for healthy foods like fruits. Thus, the fast-paced lifestyles in Hong Kong and the inherent attribute of the people to welcome new products have given rise to a call for contemporary healthy snacks. Today, Hong Kong consumers demand for high-quality, healthy snacks such as dried fruits, fat-free potato chips, low-fat crackers, protein and energy bars, low-fat cookies, low-fat tortillas, low-fat ice cream, frozen yogurt, dairy-free cheese, healthy beverages, sauces and salad dressings (1997).
Hong Kong has a consumer-based economy that is an active participant in international trade. The government does not implement strict quotas, tariffs and other restrictions on food products and beverages except alcohol, soft drinks and tobacco. This attribute makes Hong Kong an attractive destination for multi-national corporations and global exporters (1991). A study conducted by the Foreign Agricultural Service in 1999 found out that twenty-one percent of Hong Kong’s population becomes oriented with food products through advertising and seventy percent thinks that attractive packaging and brand are important for a foreign or local food product to sell (2001). One of the most successful strategies for gaining entry into the Hong Kong crisps and snack foods market is through aggressive promotional activities that highlight the brand and attractive physical appeal of the products. Potato chips, for instance, gained much popularity and acceptance because of active promotion by major suppliers coupled with solid distribution channels such as supermarkets and convenience stores which are typical locations of mothers and working professionals, and bars, nightclubs and Karaoke bars - locations that are frequented by young people (2003). Another important strategy is through trade shows. Companies aiming to penetrate the snacks and crisps market of Hong Kong should conceptualize trade shows that would showcase a diverse range of snack products in appealing packages in order to entice Hong Kong consumers. Trade show is also a potent venue to develop business affiliations with Hong Kong trading partners
The Hong Kong market for crisps and snacks is dominated by potato chips, nuts and dried fruits (2003, ). (2001) claims that the potato chip sector of the Hong Kong crisps and snacks market is in a boom. Potato chips were valued at 30 percent of Hong Kong's total snack food consumption between 1997 and 1998 as revealed by the Foreign Agricultural Service (). Dried meat and seafood snacks are also gaining popularity but local manufacturers fail to suffice the growing consumer demand for these products ( 2003). Dried seafood and meat products established a growth rate of around 15 to 20 percent growth in 1999 and are continuously gaining a large market share (2001).
Snack Foods
Historical Development
Potato Chips
- Rapid growth over 5 years
- Aggressive marketing by suppliers
- Foreign product dominates
- Other Asian products have done
well because of attractive packaging
and formulation to Asian tastes
Dried Meat Products
- Substantial growth over 5 years
- Local product dominates
- Other Asian products have done
well because of attractive packaging
and formulation to Asian tastes
Dried Seafood Products
- High growth over 5 years
- Local product dominates
- Other Asian sourced products
have done well because of
attractive packaging and
formulation to Asian tastes
Figure 2: Hong Kong Snack Food Market Brief (2001).
Japanese manufacturers and local producers are the leading providers of potato chips in Hong Kong while exporters from the West dominate the dried fruits and nuts sector particularly pistachios as well as serve as secondary producers of potato chips ( 2003). Moreover, most of Hong Kong’s people still abide by the traditional Chinese culture’s preference for healthy foods like fruits. Thus, the fast-paced lifestyles in Hong Kong and the inherent attribute of the people to welcome new products have given rise to a call for contemporary healthy snacks. Today, Hong Kong consumers demand for high-quality, healthy snacks such as dried fruits, fat-free potato chips, low-fat crackers, protein and energy bars, low-fat cookies, low-fat tortillas, low-fat ice cream, frozen yogurt, dairy-free cheese, healthy beverages, sauces and salad dressings (1997).
Hong Kong has a consumer-based economy that is an active participant in international trade. The government does not implement strict quotas, tariffs and other restrictions on food products and beverages except alcohol, soft drinks and tobacco. This attribute makes Hong Kong an attractive destination for multi-national corporations and global exporters (1991). A study conducted by the Foreign Agricultural Service in 1999 found out that twenty-one percent of Hong Kong’s population becomes oriented with food products through advertising and seventy percent thinks that attractive packaging and brand are important for a foreign or local food product to sell (2001). One of the most successful strategies for gaining entry into the Hong Kong crisps and snack foods market is through aggressive promotional activities that highlight the brand and attractive physical appeal of the products. Potato chips, for instance, gained much popularity and acceptance because of active promotion by major suppliers coupled with solid distribution channels such as supermarkets and convenience stores which are typical locations of mothers and working professionals, and bars, nightclubs and Karaoke bars - locations that are frequented by young people (2003). Another important strategy is through trade shows. Companies aiming to penetrate the snacks and crisps market of Hong Kong should conceptualize trade shows that would showcase a diverse range of snack products in appealing packages in order to entice Hong Kong consumers. Trade show is also a potent venue to develop business affiliations with Hong Kong trading partners
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