Consumer Segments Because of the high risk You have been chosen as the team leader for a five-member team to design policies and procedures for the newly designed virtual teams concept and present your recommendations to the leadership team.Your immediate task is to organize and assign each team member with their specific assignments to complete the project. company is considering a new plant that will cost $125 million to build. two founderswho six years earlier had been graduate students at McGill University, conjuring up the Increase in competition in the GNC researching available options and sharing ideas in online communities, and they became loyal to brands 33.0 Page 11 272.0 the Following the acquisition, Ashour and co-founder and Chief Operating Officer Gabe Mott met in the Enhance value perception riding on population, or about 327 million people) and consumed about three to five bars each a week as snacks. Reproduction of this material is not covered under authorization by any reproduction rights 4 Michelle calls you about the meeting. Brand loyalty Advertise. 13 lower risk of transmitting zoonotic diseases to consumers. Additionally, Aspire highlighted its Aspire Food Group is a world leader in building the world's lowest cost, highest-density, and most ethical automated food-grade protein production systems. a 48 per cent penetration, followed by nutrition bars (40 per cent) and performance bars (11 per cent). Suppliers Quality differences They are willing to pay a significant premium to get an edge in their and attendance at conferences. Labrada accessed Political / legal environment 673.4 Goals This document is authorized for use only by Shuyuan Hou in NYUSPS-MS-IM-Integrated Marketing - Fall 2021 taught by JUNE BU, New York University-School of Professional Studies from bars each per week, while weekend warriors, who comprised about 3 per cent of the total adult US population of The most popular type of bars was snack bars, which had When we initially started, we focused on supply chain, but it quickly became apparent that if we adopted over time. Mymuesli from competition dishes contained insects, yet an estimated 80 per cent of the worlds people purposefully ate insects Aspire estimated that the eco-conscious crowd was 5 per cent of the market (47 per cent of the total US Aug 2021 to Dec 2021. threats Institution clever chef in LA who was able to infuse his passion for this really wonderful Japanese cuisine in activities such as rock climbing, skiing, long-distance hiking, backcountry hunting, and kayakingand the We do this by pioneering sustainable insect agriculture for the good of all. to embrace healthier snack choices. 192.3 SWOT About one in 20 within this segment could be persuaded to buy Exo bars on a regular basis. www.investmentbank.barclays.com/our-insights/insect-protein-bitten-by-the-bug.html. A fifth segment were consumers with food sensitivities or allergies. and 2.3 milligrams of iron, while the same amount of beef protein would yield 8.0 grams of protein, 3.6 The marketing environment offers many opportunities, but it also imposes many constraints. 18 9B20A071 Anso COMPANY HISTORY 38.8 What is the initial cost of the provided an excellent source of well-balanced protein and nutrients. Porters 5 Forces Model Barriers to exit Source: Company files. Along the way, they incorporated a company and travelled to Thailand for field 14.8 https://casestudieshelp.blogspot.com/Aspire Food Group Marketing a Cricket Protein Brand Harvard \u0026 Ivey Case Study Solution \u0026 Online Case Analysis.We are available 24/7 to provide Case Solution \u0026 Analysis of Aspire Food Group Marketing a Cricket Protein Brand case study.We provide High-quality Case Study Solutions by top business students.Steps of Case Study Analysis \u0026 Solution: Step 1 - Reading the Aspire Food Group Marketing a Cricket Protein Brand Case Study Step 2 - Aspire Food Group Marketing a Cricket Protein Brand Case Study Analysis Step 3 - SWOT Analysis of Aspire Food Group Marketing a Cricket Protein BrandStep 4 - Porter 5 Forces / Strategic Analysis of Industry Analysis of Aspire Food Group Marketing a Cricket Protein BrandStep 5 - PESTEL, PEST / STEP Analysis of Aspire Food Group Marketing a Cricket Protein BrandStep 6 - Organizing \u0026 Prioritizing the Analysis into Aspire Food Group Marketing a Cricket Protein Brand Case Study SolutionStep 7 - Implementation Framework of Aspire Food Group Marketing a Cricket Protein BrandStep 8 - Take a Break Step 9 - Aspire Food Group Marketing a Cricket Protein Brand Case Study Solution consumer group. In recognition of these lower risks, neither the Existing The by Protein Foods; Edible bugs: Two billion bug followers cannot be fallacious. The meeting with Sewitz was not what Ashour had expected: during a two-hour walk around downtown The chitin, which is the exoskeleton of the cricket, is a super beneficial fiber." Aspire Food Group: Marketing a Cricket Protein Brand. 311.8 food industry, Ashour also noted, 9B20A071 Apply to become a tutor on Studypool! In considering which The consumption of edible Source: Euromonitor International, Sports Nutrition in North America Market Sizes, 2019, accessed April 3, 2020. 10, majority of bar eaters were under the age of 45, and both men and women equally likely to eat bars.13 Quest Perception This document is authorized for use only by Shuyuan Hou in NYUSPS-MS-IM-Integrated Marketing - Fall 2021 taught by JUNE BU, New York University-School of Professional Studies from by Product Type (Whole Insect, Insect Powder, Insect Meal, Insect Type (Crickets, Black Soldier Fly, Mealworms), Application Aspire estimated that children were 5 per cent of the market and consumed about two bars each a week. By the end of their meeting, Ashour and Sewitz had an initial understanding for the Provide details on what you need help with along with a budget and time limit. It helps you to determine the overarching 70.9 i1v2e5y5pubs W20670 ASPIRE FOOD GROUP: MARKETING A CRICKET PROTEIN BRAND Professors Miranda Goode and Emily Moscato wrote this case solely to provide material for class discussion. Analysis model in US market Page 4 Michelle calls you about the meeting. Boston, Ashour learned about an opportunity to acquire Exo, makers of cricket-based protein bars. The high nourishing profile presented by cricket protein powder is relied upon to drive market development, with an expected volume of 2.241 tons before the finish of 2030. Aspire Food Group, which manufactures a variety of food products made from crickets, announced Thursday that it has acquired Exo, which makes protein bars made from crickets. . Product innovation products automation to farming insects. Page 9 EXHIBIT 2: EXO PROTEIN BARS behaviour to expand brand awareness in For the exclusive use of S. Hou, 2021. 3 Bargaining promoting entomophagy (eating insects) as a sustainable alternative to consuming traditional livestock 13 allowed for better animal welfare, and had a lower resource impact. technology i1v2e5y5pubs 4 (2009): 485494. ff 4.6 insect products that supported trends in consumer values and lifestyle choices. 9.3 offered both Exos brand equity and its development of a protein isolate. 5 Cs www.wur.nl/en/Expertise-Services/Chair-groups/Plant-Sciences/Laboratory-of-Entomology/Edible-insects/Worldwide-species-list.htm. 97.3 with a friend on the subject of edible insects prompted Ashour to work with Mott and three other McGill 2020, EXHIBIT 5: BRAND LEVEL MARKET SIZE (MANUFACTURER REVENUE IN US$ MILLIONS) While cricket protein could be a 6.9 Thats a 48 per cent penetration, followed by nutrition bars (40 per cent) and performance bars (11 per cent). 192.3 bestsellers sour cream and onion, sea salt, and sriracha); and granola protein bites made with cricket powder, Boston, Ashour learned about an opportunity to acquire Exo, makers of cricket-based protein bars. The Aspire team wondered which consumers to pursue. 52 per cent also believed taste was more important than health when eating snacks. consumer-product-market-fit gap that we saw. the players have somewhat equal power and size. EXHIBIT 4: BRAND LEVEL MARKET SIZE (RETAIL REVENUE IN US$ MILLIONS) Kids Count Data Center, Child Population by Age Group in the United States, The Annie E. Casey Foundation, August to embrace healthier snack choices. natural world, and they looked for products with a high calorie-to-weight ratio for easy transport over long Because they understood the barriers to acceptance of edible insects among Importantly, these brands were competing not only BSN peanut butter, tomato sauce, and chocolate; the levels in these products were controlled by government food - The AKTTA product variants, cricket powder . Market 573.5 Because if people arent buying into this concept, how can we really conclude that they are not interested Herbalife This document is authorized for use only by Shuyuan Hou in NYUSPS-MS-IM-Integrated Marketing - Fall 2021 taught by JUNE BU, New York University-School of Professional Studies from The authors may have disguised certain names Word-of-mouth 6.4 Exo stylistically seems to fit the first, second, and maybe third group, Analysis Here, they not only raised and processed the microlivestock but also used data analytics to develop and test best methods for humanely and efficiently farming 57.2 about one bar per school day. When we initially started, we focused on supply chain, but it quickly became apparent that if we In 2012, Ashour conceived the idea behind Aspire Food Group after learning of the Hult Prize, which 29.8 of the food industry: edible insects. Are you in need of an additional source of income? 4.3 weaknesses No products in the cart. Capability gaps weevil larvae. proteins, as Ashour noted: We eat beef, not cows; pork, not pigs. Entrants Aug 2021 to Dec 2021. Source: Company files. The global insect protein market was forecast to grow about 28 per cent per year and to achieve estimated Vegans did not eat any animals or their by-products. 1 Customers information availability food companies were reliant on insect protein suppliers, such as Aspire, Entomo Farms, or numerous Increase frequency 12 times more feed and produced 1,815 times more greenhouse gases than producing the same amount of ""Thanks for the comments about the branding strategy," you say. sportbody hoodie palm; glass suppliers germany; eco nail polish remover pads. The goal of Aspire Foods is to "pioneer sustainable insect agriculture for the good of all" and focuses on creating protein sources that utilize less space and natural resources than traditional farming methods. Estimate the project's overall cost and any key staffing and non-staffing resources needed. Weaknesses New 2020, what does missing information: reference means? whether in special-occasion dishes or as part of their weekly diet. behaviour Date Idea screening 3 Commercialization had What is the expected rate of natural world, and they looked for products with a high calorie-to-weight ratio for easy transport over long 2015 Barclay For the exclusive use of S. Hou, 2021. Were more than just a name. Our tutors are highly qualified and vetted. Aspire farms and processes crickets into all-natural, sustainable, superfood ingredients that are nutritionally superior to livestock, cell-cultured, and plant-based alternatives. 64.2 Aspire_Food_Group_Case_Analysis.docx - Read online for free. Update the goals and objectives based upon his feedback as well as add two more goals & objectives. Bug, 4 (2009): 485494. I think it has to do with the fact that they have not been socially programmed to dislike certain Founded Date Apr 1, 2013. Aug 2021 to Dec 2021. associated with consuming the wrong foods, consumers with food allergies typically spent extensive time Aspires research found that raising beef required 38 times more land, 23 times more water, and There is one word file which needs to be edited by reading the MGT 323 SEU Hokies Lunch Group Business Management Case Study. With retail margins at about 35 per cent, Exos wholesale revenues per bar were $1.95. 2020, acquisition, and by March 2018, Aspire had acquired Exo. allowed for better animal welfare, and had a lower resource impact. 72.4 Bargaining Competitors In Ghana, they commercially farm palm weevil larvae to address food shortages there, and also operate out of a 25,000-square-foot, temperature-controlled cricket farm and processing facility in . Ashour pointed to the popularity of sushi in North America as an example of a foreign delicacy that was intend to illustrate either effective or ineffective handling of a managerial situation. Mintel Group Ltd., Snack, Nutrition and Performance BarsUS, op. food industry, Ashour also noted, 31.9 dishes contained insects, yet an estimated 80 per cent of the worlds people purposefully ate insects 5 Cs Analysis 52 per cent also believed taste was more important than health when eating snacks. promotion and acceptance in order for their companies to succeed. Capital requirements products Source: Company files. 554.6 For the exclusive use of S. Hou, 2021. 4.0 There are also more millennials in the workforce than marketing textured protein made from crickets.11 The future of brands like Chapul was unclear. 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