The ready-to-eat breakfast cereal industry is dominated by General Mills, Kellogg, Kraft Foods, and Quaker Oats that together account for 90 percent of sales. Each firm produces a bewildering proliferation of different brands (General Mills alone has over 75 cereal offerings), appealing to every conceivable market niche. Yet, the lowest brands on each company’s long pecking list generate meager or no profits for the corporate bottom line. What strategic reasons might the dominant companies have for pursuing extreme brand proliferation? Explain.