Victory Bar

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Now, I know what you are thinking: why did this guy add a product development project to his portfolio? I thought about this deeply and there are a lot of similarities in the approach when creating a product for consumers. Like UX/UI design, product design or whatever product it is you are creating, you should always try to solve a problem or fill an unmet need.

Industry/ Market Context

The global snack bars market is projected to grow 6.7% in the next five years. The nutrition bar market increased 34% in 2017. This growth moved the nutrition bar market above 2 billion dollars and took up 39.6% of the global snack bars industry and is driven by the consumers’ desire for protein-rich healthy ingredients.

The United States is currently the largest market for snack bars at 42% of global sales. Major competitors in the snack bar industry are Kellogg, General Mills, Nature Valley Kashi, Larabar, KInd Snacks. with some new companies seeing up to 450% growth in sales.

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Market Segment

Victory Brand’s target segment are millennial moms whose age ranges from 25 to 34. Annual household income is between $50,000 - $99,999. They may have 1 to 2 children, age(s) ranging from 1-5 years old. They are always on-the-go and make a trip to the grocery store once a week.

The millennial mom is a fiercely savvy shopper and digital expert who is skilled in finding what her family needs through friends or family recommendations and using social media platforms, blogs and other online channels–primarily their mobile phones. At a minimum, millennial moms spend over 23 hours online any given week and usually watch up to 27 hours of television as well.

We have defined them in three categories – urban chic millennial mom, the earth-mother millennial mom and the suburban soccer mom with each of our personas falling into each category.

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