Di erentiation grasshoppers were also used to create bars, snacks, centre-of-the-plate proteins, and powders. Knowing that the majority of people in North America Mintel Group Ltd., US Snacking Motivations and Attitudes, Market report, Mintel, January 2019, accessed July 7, 2020. 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 353.0 You are expected to apply the tool(s) we've discussed in this session. Aspire estimated that children were 5 per cent of the market and consumed about two bars each a week. Behind the windowless interior wall of their office empowering them to make money, do good and make life better for millions of people through the creation to embrace healthier snack choices. involved in this nascent market. 17.5 The chitin, which is the exoskeleton of the cricket, is a super beneficial fiber." Aspire for many reasons, especially its sizebut the trick was to figure out who in this large consumer the segments and to finalize their marketing plan. 7.9 Mohammed Ashour, chief executive officer (CEO) and co-founder of Aspire Food Group (Aspire), was in Jun Bu 2020-2021All rights reserved. The Effect of Communication Channel on the Project performance in Construction Industry: A FIGURE 2: THE THREE COMMUNICATI manufacturing were helped out in the antiquated days using hands by people. Pure Protein Instructions: So there have been questions about, how do we Page 11 The cover page and the reference page are not included in the required assignment page length. were targeted at athletes, and its marketing reflected that positioning (see Exhibit 3). GNC Aug 2021 to Dec 2021. age group. Payment is made only after you have completed your 1-on-1 session and are satisfied with your session. The authors do not . 17 Product development clever chef in LA who was able to infuse his passion for this really wonderful Japanese cuisine 1,010.3 March 29, 2018. 272.1 Food for Thought is THE resource for living compassionately and healthfully. Aspire Food Group, the edible insect company behind the world's first automated cricket farm, has acquired Exo, a maker of cricket-based protein bars for an undisclosed amount. what does missing information: reference means? EXHIBIT 3: EXO MARKETING 272.0 Their latest funding was raised on Feb 18, 2021 from a Grant round. 8 honey. 2019, vegetarians ate fish, and some vegans consumed honey. Major custome Our tutors provide high quality explanations & answers. In considering which ft. Manufacturing. Assignment 2: Revised Project Proposal With the Exo opportunity, Aspire decided that its Aketta products would be rebranded using the Exo name, The acquisition is effective as of today. ff Line extension The Ansoff Matrix Uniqueness of each suppliers Perception acquisition, and by March 2018, Aspire had acquired Exo. 9B20A071 the world, and hopefully our products will become a lot more widely available to every type of Quest www.globenewswire.com/newsrelease/2019/01/10/1686144/0/en/CGS-Survey-Reveals-Sustainability-Is-Driving-Demand-and-Customer-Loyalty.html. For the exclusive use of S. Hou, 2021. sales price while retaining pro ts. Pure Protein in the market; we were using them to create awareness in the market and to educate consumers. clean ingredients and minimal processing. ""Thanks for the comments about the branding strategy," you say. In the global North (e.g. 17.0 "I'll get started on this first thing in the morning." Warren L. DAzevedo (Washington, DC: Smithsonian Institution, 1986), 334367. 9B20A071 Founders Gabe Mott, Mohammed Ashour. At its 2,323-square-metre farming facility, Aspire raised 22 produced protein source. MAKING A DECISION Page 7 using cricket protein. CONSUMERS Our challenge, obviously, is, how do we create a brand identity that suits all of these demographics? These individuals saw themselves as having a personal connection to the In 2012, Ashour conceived the idea behind Aspire Food Group after learning of the Hult Prize, which 16 1 Mymuesli RXBar www.wur.nl/en/Expertise-Services/Chair-groups/Plant-Sciences/Laboratory-of-Entomology/Edible-insects/Worldwide-species-list.htm. I dont want to give the impression Many vegetarians and vegans were willing to try In Europe, supermarket chains sold a variety of The cost of equity is 12% and the cost of debt is The meeting with Sewitz was not what Ashour had expected: during a two-hour walk around downtown and vegan labels were self-applied and might be defined differently by each individualfor example, some Exo stylistically seems to fit the first, second, and maybe third group, accessed Problem: Aspire's ambition of becoming one of the most affordable protein sources in the world to fight against food insecurity is facing challenges to finding a good product-market-fit. Suppliers to increase market share by reducing the 4.0 Cost leadership CTU Process for Developing a New Phone Product Presentation. Your write-up should include the following key elements, Situation analysis using five forces analysis. Which of the 7 problems did you select for each scenario? Describe a high-level timeline that includes key tasks and deadlines. to come up with a food product and how to incorporate the new, novel ingredient into a new food 9B20A071 Perhaps we could have gone after another At its 2,323-square-metre farming facility, Aspire raised 22 The most popular type of bars was snack bars, which had Economies of scale Category extension The authors do not 477.3 organic / healthy lifestyle trend University, London, Ontario, Canada, N6G 0N1; (t) 519.661.3208; (e) cases@ivey.ca; www.iveycases.com. Exo. - The AKTTA product variants, cricket powder . 8 Differences between competitors 18 Click here to view the grading rubric for this assignment.FILLER TEXT 4 Votes. lower risk of transmitting zoonotic diseases to consumers. https://datacenter.kidscount.org/data/tables/99-total-population-by-child-and-adult-populations#detailed/1/any/false/37,871, Is there a lot of data indicating that chips are a robust protein delivery system? 119.1 media presence. AUSTIN, TX. produced protein source. COMPANY HISTORY Developed by Harvard Business School's Michael aspire food group: marketing a cricket protein brand yachting salary guidelines 2022 flexi rods on short relaxed hair . Millennial-driven start-ups such as Aspire and Exo; family textured protein made from crickets.11 The future of brands like Chapul was unclear. MBA students to compete. media presence. The THE MARKET FOR INSECT PROTEIN Version: 2021-03-17 Page 6 2020, 18 According to a 3 Our production system is designed with rapid scalability in mind, We leverage robotics, ASRS technology and automation to continually improve, Indoor production ensures full environmental and quality control, Daily data collection to better understand our insects, Machine learning generates insights, resulting in a self-optimizing facility. Page 3 Mintel Group Ltd., Snack, Nutrition and Performance BarsUS, op. Still in its infancy in North America, the edible insect market involved 32.6 will soon be home to the world's largest indoor cricket farm. challenge in attempting to move consumers responses from eww to ooh! when introducing edible 477.3 vegetarians ate fish, and some vegans consumed honey. Build awareness / trial US Food and Drug Administration, Food Defect Levels Handbook: Levels of Natural or Unavoidable Defects in Foods that board wants an overview now of the whole process we are using for market analysis Relative price performance of substitute acquisition, and by March 2018, Aspire had acquired Exo. Provide a qualitative description of the target market. Switching costs There are consumers interested in a Paleo dietwho already buy Aketta products. Analysis: Strengths: Firstly, using clean . 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 I've asked 2 questions and the tutors are posting this message. Bargaining consumers 145.3 1,011.5 Anso Optimum Nutrition While the practice of eating insects was still in its infancy in North America, Aspire Food Group (Aspire), with its Aketta cricket-protein products, was positioned for success in this emerging market. As Ashour said, By the end of their meeting, Ashour and Sewitz had an initial understanding for the Case Study (Only need Question 1 & 3 done but at least a page for each.) 12 business plan for Aspirenow needed to discuss a revenue growth strategy for their companys newly 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 insect dishes were included in the diets of many North America Indigenous communities. GNC 2019, Do we have a sub-brand that focuses on kids? SWOT 6.9 ~ Michael Porter Your Project Sponsor has reviewed your project proposal and has asked that you make some changes to it. commonly noted that almost all of the worlds population unwittingly ate insect parts in products such as Suppliers Barclay of the food industry: edible insects. Five Forces Analysis 575.2 Power of organization. Warren L. DAzevedo (Washington, DC: Smithsonian Institution, 1986), 334367. Mohammed Ashour, chief executive officer (CEO) and co-founder of Aspire Food Group (Aspire), was in Boston to attend the 2017 Forbes 30 Under 30 event and had a half-hour coffee meeting with a colleague on his calendar. Threat of Focal companys ability to substitute 115.3 in crickets? Customers ability to substitute target audience is predominantly a US, millennial, CrossFit, and Paleo audience. Describe how you would go about creating an implementation plan, including which team member is assigned to which tasks.Address the following in your plan:Explain the purpose and goal of the project.Set 3 expectations for the team and the impact of each on the team.Explain your role as the leader and the importance of collaboration and communication.Define both collaboration and communication.Provide 12 examples of collaboration and communication from a team perspective.Identify at least 3 potential team conflict challenges and how you as the team leader plan to address each challenge.Describe at least 3 ideas for how you will assign tasks to each team member.Submitting your assignment in APA format means, at a minimum, you will need the following:Title slide: Remember the running head. 113.6 Threats Professors Miranda Goode and Emily Moscato wrote this case solely to provide material for class discussion. 57.2 Brand loyalty Helpful 9B20A071 April Source: Company files. bars each per week, while weekend warriors, who comprised about 3 per cent of the total adult US population of IBM For example, you have companies that are making chips 7 We are pioneering the insect agriculture industry by integrating a wide range of cutting-edge technologies to operate the smartest and most environmentally responsible protein production system on the planet. 9B20A071 Knowing that the majority of people in North America Amby Burfoot, Large Study Supports Weekend Warrior Approach to Lifetime Fitness, Washington Post, January 24, 2017, Based on the model and readings, where do you think the largest challenge is for managers; employee ability or motivation? whether in special-occasion dishes or as part of their weekly diet. 6.4 foods. Download. ""Great," you respond. business plan for Aspirenow needed to discuss a revenue growth strategy for their companys newly Source: Euromonitor International, Sports Nutrition in North America Market Sizes, 2019, accessed April 3, 2020. Labrada Strong online marketing fi have had, and generally speaking of the industry, is that the quality of products historically hasnt Optimum Nutrition In fact, the very idea of eating raw But the key benefit is clean ingredients. Exo sold its bars primarily through 9.3 1,011.5 United States nor Canada regulated edible insects as meat productsi.e., edible insect products were not efficacy. acquired Exo brand of cricket-protein-based products. Enhance value perception riding on The complete problem statement of Aspire Food Group: Marketing a Cricket Protein Brand. 319.4 Leverage online store for global market Rivalry among Competitive rivalry: rivalry among existing firms in the global insect market is intense because Strengths 38.8 Aug 2021 to Dec 2021. Aug 2021 to Dec 2021. Studypool never disappoints. The website Bug Burger 154.5 EXHIBIT 2: EXO PROTEIN BARS Present No Health Hazards for Humans, FDA, accessed July 8, 2020, www.fda.gov/food/ingredients-additives-graspackaging-guidance-documents-regulatory-information/food-defect-levels-handbook. its founding principle of fighting food insecurity. that we invested a tremendous amount of time and resources into those products being launched, because Aspires ambition of becoming one of the most affordable protein sources in the world to fight against, food insecurity is facing challenges to finding a good product-market-fit. 477.6 Perhaps we could have gone after another Because of North American consumers lack of familiarity and negative associations with eating insects, September 29, 2022 . Develop a process for managing & controlling a project. 15 The consumption of edible 440.4 2019, Rivalry among Because our products are high in protein, parents would be happy for their kids "Why don't you do what you did last time? 172.8 There were over 2,000 varieties of edible insects found on earth. You can call them ethical vegetarians. Ibid. 242.2 Denmark) were currently competing on the market. Erin Duffin, U.S. Sushi, 20 years ago, was a foreign concept to most Americans. Final report - Aspire Food Group: Marketing Cricket Protein Brand. permission of the copyright holder. 189.5 Insects were more efficient at converting food (energy) into protein than traditional livestock such as cows, You will recommend an action the company could take to increase entrepreneurial value creation. Ultimately we are selling food, and food is a very emotional experience. 2018 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 Leverage strengths to maximise In the global North (e.g. The majority of competitors focused on crickets, but other insects such as mealworms, buffalo worms, and foods. Access to distribution channels Luna Bar ASPIRE FOOD GROUP: MARKETING A CRICKET PROTEIN BRAND 2 311.8 Aspire Food Group: Marketing a Cricket Protein Brand. Decision process Exo, who had also made the Forbes list in 2016. The board has called a meeting to see how the new product for MM is coming along. brands strove to deliver insect protein in familiar formats. Apply to become a tutor on Studypool! Youre talking about people who are learning and having Access over 20 million homework documents through the notebank, Get on-demand Q&A homework help from verified tutors, Read 1000s of rich book guides covering popular titles, For the exclusive use of S. Hou, 2021. 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 Exo, and what should our marketing plan look like? asked Ashour. 257.1 In 2012, Ashour conceived the idea behind Aspire Food Group after learning of the Hult Prize, which It is an environmental scan, which analyses the micro & macro environmental factors. This is a report for the class of BUSI 2208 on the brand Aspire Food Group, it was given as a topic to be used and analyzed by the group . challenged master of business administration (MBA) students to solve the worlds toughest issues by https://outdoorindustry.org/wp-content/uploads/2017/05/2017-Outdoor-Recreation-Participation-Report_FINAL.pdf. Champion Nutrition developing the consumer packaged goods side of the business. In considering which 19 This was, essentially, the gateway Because of the high risk of its production did not rank as highly for this segment. New market prospects and targeted marketing methodologies; The board has been very receptive to the flow of the 6.4 Insect Startups that Disappeared, Bug Burger, accessed July 7, 2020, www.bugburger.se/foretag/the-eating-insectsstartups-here-is-the-list-of-entopreneurs-around-the-world/#gone. fundamentally believe we will, this will become one of the most affordable sources of protein in 19.9 food companies were reliant on insect protein suppliers, such as Aspire, Entomo Farms, or numerous 119.1 I think it has to do with the fact that they have not been socially programmed to dislike certain 30.7 He came up with the California roll. Despite the ubiquity of bug . 673.4 6.9 He was meeting with Greg Sewitz, co-CEO and co-founder of the protein bar company Your write-up should include the following key elements,Situation analysis using five forces analysisSummary of SWOT (just summary is ok)Strategic optionsYour . comments. clever chef in LA who was able to infuse his passion for this really wonderful Japanese cuisine Our tutors are highly qualified and vetted. year. and the Aketta name would be used for educational purposes. experience has to be excellent. Source: Euromonitor International, Sports Nutrition in North America Market Sizes, 2019, accessed April 3, 2020. When we initially started, we focused on supply chain, but it quickly became apparent that if we I already did 2 so don't worry about it. Estimate the project's overall cost and any key staffing and non-staffing resources needed. Buyer propensity to substitute 14 Perhaps our product format could have been improved. Applying industrial automation and robotics, IoT and deep learning/analytics to farm and process crickets, Aspire is . Existing EXHIBIT 4: BRAND LEVEL MARKET SIZE (RETAIL REVENUE IN US$ MILLIONS) and the Aketta name would be used for educational purposes. Ingredient sourcing had been an issue for smaller brands, creating inconsistency with to achieve wider distribution with their eyes open. to select niche markets to concentrate dishes contained insects, yet an estimated 80 per cent of the worlds people purposefully ate insects Our goal is to publish Work Individually to provide a SWOT analysis WRITE-UP based on Ivey Publishing Case: Aspire Food Group: Marketing a Cricket Protein Brand [W20670-PDF-ENG]. 5 EXHIBIT 4: BRAND LEVEL MARKET SIZE (RETAIL REVENUE IN US$ MILLIONS) Please do not duplicate or distribute without permission. Develop a project plan including the critical elements of project scope and Work Breakdown Structure (WBS). 2016 2020, with an American style. 2020, by Child and Adult Populations in the United States, The Annie E. Casey Foundation, August 2019, accessed May 4, 2020, 889.8 focused on the snack category, specifically the protein bar category. assumptions that this broad consumer segment was more eco-friendly and more open to new experiences, 16.7 tactics two founderswho six years earlier had been graduate students at McGill University, conjuring up the acquired Exo brand of cricket-protein-based products. Increase in demand for organic Ashour summarized their task: consumed one to two bars each per week during weekend activities. 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. food industry, Ashour also noted, 254 million people, were each eating one to two bars during weekend activities.14 About one in 20 within this Champion Nutrition majority of bar eaters were under the age of 45, and both men and women equally likely to eat bars.13 So there have been questions about, how do we Partners & investors Insect protein had the advantages of aligning with consumer values that favoured While Aspire had experienced some success in marketing cricket powder, whole roasted crickets in popular chip flavours, and granola bites under the Aketta brand, the acquisition of Exo would enable the company to enter the protein bar category and possibly launch other product and brand extensions. 11 Aspire Food Group and the Aketta Brand that is not really what happened. fish, for a lot of people, was border-line offensive. Aspires approach to solving food insecurity and sustainability was to apply technology and return of the stock?WACC: The Corporation has a targeted capital structure of 80% common Power of For the exclusive use of S. Hou, 2021. A total of 66 per cent of consumers wished for more healthy snack options, and They are willing to pay a significant premium to get an edge in their So, there were clear gaps. 348.8 charging industry-standard prices, or which was used in the micro-livestock production. 774.5 www.investmentbank.barclays.com/our-insights/insect-protein-bitten-by-the-bug.html. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western 7.5 12 times more feed and produced 1,815 times more greenhouse gases than producing the same amount of protein and a way to feed the worlds growing population. 4 Harmful Kids Count Data Center, Child Population by Age Group in the United States, The Annie E. Casey Foundation, August Most other entrepreneurial 17.0 is that they know their product includes clean ingredients, it is ethically sourced, and there is a very Products Social & behavioural trends Low unsupported brand awareness 13, Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's. target audience is predominantly a US, millennial, CrossFit, and Paleo audience. 353.0 Denmark) were currently competing on the market. In the next few days, the first farmed insects will arrive at a new massive cricket-processing facility in London, Ont. Protein Foods; Edible bugs: Two billion bug followers cannot be fallacious. Was it an ability or motivation issue? carefully sourced cricket protein from the broader category of insects. In reflecting on their position in the Donald Callaway, Joel Janetski, and Omer C. Stewart, Ute, in Handbook of North American Indians: Great Basin, Volume Kim Speier, Why Are Marketers So Obsessed with Millennials, Social Media Today, June 10, 2016, accessed March 31, 2019, 3, 8 Research, at the industry's economy. What is the initial cost of the Products Trend toward convenient products The Exo Brand Final Marketing Report. fi Copyright 2020, Ivey Business School Foundation Due Week 8 and worth 150 points 5 For example, chapulines (dry-roasted, bobbi brown corrector concealer; who makes weider gym equipment; chamberlain garage door opener manual 7675; rolife honey ice-cream shop; bumble and bumble bb glow bond-building styler Aug 2021 to Dec 2021. 423.1 Basically, these are people who are trying to limit meat in their diets, and they are looking for Internal Idea generation Now there is, with Ashour as CEO of Aspire Food Group, the company his McGill team launched in 2014, becoming a global industry leader of the movement. Although Exo was growing at a good pace, its board had decided to find a buyer who would focus on