Hot Cheetos History

History

The Flamin’ Hot Cheetos is a story that depicts the American dream beginning with a janitor who is an immigrant that became a multimillionaire from a small yet brilliant idea. Richard Montanez, was a janitor who worked with Frito-Lay in 1976 at their Rancho Cucamonga plant. Today, he is an executive leader of sales and promotion throughout PepsiCo’s North American divisions. He was inspired to create an innovative product by a popular Mexican street food called elote. The ingredients to the hot cheetos began with butter, cheese, and chili added to the corn. After pitching the new product idea to supervisors it became an instant hit that led many opportunities not only to the new product, but also Richard Montanez. Hot cheetos now is

Bath purchased his own bakery in New York City and quickly became a huge success. Currently, Thomas Bagels is a SBU of Bimbo Bakeries. Thomas’ Bagels can be found in a plethora of locations; Fresno alone, Thomas’ bagels are sold in 62 different locations supplying easy access to consumers. According to Packaged Facts, Thomas’ bagels accounts for 12.9% of consumer bagel consumption and is steadily increasing on the yearly basis (Schroeder, 2014). Thomas’ Bagels is one of the most sought out bagel by consumers. Thomas Bagels is a Strategic Business Unit (SBU) of Bimbo Bakeries who offers six variety of different unique bagels from Banana Chocolatey Chip, Maple French Toast, Everything, and Onion. With the increasing sales, this partnership between Flamin’ Hot Cheetos and Thomas’ Bagels will increase their sales in a whole new market

The U.S. Department of Agriculture’s Continuing Survey of Food Intakes by Individuals discovered that 85% of Americans eat breakfast. With this large consumer base it comes to no surprise that bagel consumption has increased by 150% during the past decade, leading the trend toward simpler and more convenient breakfast foods according to U.S. Foodservice magazine. The bagel market itself is a $1.4 billion market that is continuously growing on a yearly basis (Boy, 2014). This provides that the product Hot Cheetos bagel has a high potential to hit the market since the bagel market itself is expanding and if a company does not act now they will not gain in market share. Bagels are a gaining popularity with 2/3 of its yearly revenue deriving from bagel shops that offer soups, sandwiches, and coffee. 61% of Americans claim that they eat a bagel at least twice a week for breakfast with 87% of them adding jelly to their bagel. The appeal of bagel derives from its ability to fit into the lifestyle of variety of Americans. It is able to target different demographic and socio-economic backgrounds due to its taste and low cost. Famous stores located in Manhattan named Bruegger’s, Manhattan, Big Apple, or Chesapeake all has a variety of consumers ranging from seniors, kids, Generation X singles, blue-collar workers, and white-collar workers (Customer