Product segmentation The breakfast cereal market consists of two types of products: breakfast cereal and ready-to-eat breakfast cereals. For the year 2008, the ready-to-eat cereals dominated the market with about 88. 1% of the market share while hot cereals accounted for the remaining 11. 9% of the market. The corresponding figure for the year 2006 was 91% for ready-to-eat cereals (Marketline, 2009, p. 4). Following is the convenience market segment information for the breakfast cereal information. Fig – 1Consumer Market Segment Information (Costcutter, 2008, p.2)