The Oscar Mayer company is a company owned by Kraft foods which deals in meat products. It is known for its hot dogs, bologna, bacon and ham products. It was founded by Oscar F Mayor (1859-1955) born in Bavaria. While working in Chicago Oscar founded a retail market which specialized in sausages and westphalian hams. As Oscar emphasised primarily on quality and considered price secondary he soon became a well-known producer of meats in around Chicago.
Timeline of Oscar Mayor
1883 – Oscar F Mayor founded a sausages and westphalian ham specialized market in Chicago, Illinois.
1970 – Oscar Mayor purchased C F Claussen and sons which was a distributor for packaged fresh pickles, sauerkraut, relish etc.
1979 – Oscar Mayor then acquired nation’s largest manufacturer of processed Turkey product , Louis Rich Inc.
1981 –General Foods Corporation acquired Oscar Mayor.
1985 –Philip Morris companies Inc. purchased General foods.
PROBLEMS FACED BY OSCAR MAYOR
(a) The change in consumer preference i.e.
• Increasing demand for healthier products with less fat and salt content
• Increasing demand for easy to cook and consume products.
(b) The industry comprised of cut throat competition with multiple companies having sophisticated manufacturing and marketing skills, stronger financial position and building value added brands and market share.
(c) Inability of diversifying product line in accordance to the changing consumer preferences.
(d) Lack of innovation in the right