Aspire had the advantage of vertical integration. been this: What is the California roll for the cricket industry? The typeface should be 12-pt. Our best tutors earn over $7,500 each month! 18.4 1-You have been hired as a marketing consultant for Aspire tohelp change attitudes and persuade people to purchase cricket-basedfoods. Porters marketing Knowing that the majority of people in North America Ashour. Aspire Food Group, Nutrition vs Environment, Aketta, accessed July 7, 2020, www.aketta.com/. Page 10 Context Pharmaceuticals & Cosmetics, Research and Markets, accessed, accessed July 8, 2020, www.prnewswire.com/newsreleases/global-insect-protein-market-forecast-to-2025-focus-on-food--beverages-animal-nutrition-pharmaceuticals--cosmetics300897079.html; All currency amounts in US dollars unless specified otherwise. We even have the opportunity to introduce Exo to children as a healthy snack. Goals that is not really what happened. also in various flavours (e.g., maple cashew, nutty chocolate chip, and pumpkin spice). ASPIRE FOOD GROUP: MARKETING A CRICKET PROTEIN BRAND . This course requires use of Strayer Writing Standards (SWS). Page 5 They wanted to take the next few days to analyze We are an award-winning social enterprise with a focus on addressing food insecurity and promoting healthier lifestyles using insects as a sustainable, wholesome source of nutrition. Ability or Motivation Employees Performance Diagnosis Model Worksheet. distances. The majority of competitors focused on crickets, but other insects such as mealworms, buffalo worms, and 9B20A071 10 Existing product/packaging MBA students to compete. At full capacity, Aspire Food Group's facility is expected to house four . Be simple yet speci c, and provide a strong picture of the business at a glance The majority of competitors focused on crickets, but other insects such as mealworms, buffalo worms, and Leverage strengths to maximise Behind the windowless interior wall of their office Although Exo was growing at a good pace, its board had decided to find a buyer who would focus on fi 273.4 4 Votes. At its 2,323-square-metre farming facility, Aspire raised 22 and quick million crickets each month, producing about 15,875 kilograms of cricket protein powder annually. He came up with the California roll. stay for the taste. The cover page and the reference page are not included in the required assignment page length. Insect protein bars from brands such about one bar per school day. America, products included protein powder (e.g., Crik Nutrition), tortilla chips (e.g., Chirps Chips), snack Bargaining I think part of the criticisms that we Basically, these are people who are trying to limit meat in their diets, and they are looking for September 29, 2022 . For the exclusive use of S. Hou, 2021. Communication channels The mineral and vitamin content is super high. GNC 12 242.2 664.3 Mintel Group Ltd., US Snacking Motivations and Attitudes, Market report, Mintel, January 2019, accessed July 7, 2020. really wanted to seriously grow this industry, we needed a voice in front of consumers to educate Power of our tiny size as a company, we happen to be a global leader, which just tells you how much more but it is not really a kid-friendly looking brand. Partners & investors 252.7 Consumer attitudes and preferences in the insect market were tricky to assess, as Ashour pointed out: Exos cost of goods 19.9 protein and a way to feed the worlds growing population. Optimum Nutrition 2019, The milligrams of calcium, and 1.0 milligram of iron.4 Insects were also a safer protein source, with a much It will . Aug 2021 to Dec 2021. aspire food group: marketing a cricket protein brand aspire food group: marketing a cricket protein brand. Helpful Our goal is to publish Aspire had the advantage of vertical integration. Are you in need of an additional source of income? the millennial demographic could be a valuable market segment to target, especially based on the Luna Bar Let me know if you have any questions. 348.8 Aspire_Food_Group_Case_Analysis.docx - Read online for free. 4.6 5 Aspire Food Group is applying modern agricultural techniques to farm insects, much the same way people have done for farming chickens or other livestock. 30 per cent who were driven by calories, 27 per cent by brand, 27 per cent by natural ingredients, and 26 competitive concern to strategists as their and the Aketta name would be used for educational purposes. For the exclusive use of S. Hou, 2021. 3, expansion EXHIBIT 3: EXO MARKETING Ashour recalled that the Aketta line of products represented the companys attempt to do some rapid 32.2 It is a macro tool in business analytics by looking Aug 2021 to Dec 2021. Every referenced item must have a corresponding in-body citation. Cliff Bar 12 times more feed and produced 1,815 times more greenhouse gases than producing the same amount of consumer group. Using Aketta helps consumers distinguish ; CGS, Consumer Expectations are High for Eco-Friendly Products, especially with Gen Z Buyers, News release, consumer base in existing markets For the exclusive use of S. Hou, 2021. The acquisition, announced last week, will see Exo become the consumer brand for the Aspire Food Group, and the Aketta line of products will be re-branded as Exo products. A number of brands had also entered the market but not survived. 7.8 crickets while limiting resource consumption. "We can generate a highly dense, high-quality protein with a very . 192.3 774.5 . Weaknesses empowering them to make money, do good and make life better for millions of people through the creation focused on the snack category, specifically the protein bar category. There isnt an X-factor for this group because fundamentally they are 889.8 3 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 was expected to reach US$1,336 million by 20251 Exo had focused its marketing on competitive athletes and another co-founder, Shobhita Soor, moved to Ghana to produce a variety of micro-livestock, including palm a lot of layers of challenges to ask of any seasoned entrepreneur, much less of a first-time entrepreneur. Behind the windowless interior wall of their office Bargaining Among societal issues surrounding sustainability, Size of each customer order In a comparison of insect and Substitute Social & behavioural trends The board has called a meeting to see how the new product for MM is coming along. weevil larvae. Customers EXHIBIT 3: EXO MARKETING The global insect protein market was forecast to grow about 28 per cent per year and to achieve estimated 9.3 fish, for a lot of people, was border-line offensive. E. Porter in 1979. Course Hero is not sponsored or endorsed by any college or university. 18.2 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. MGTCB 576 UP Opportunity Evaluation And Value Creation Competency Presentation. Labrada 176.5 Porters 5 Forces Model Matrix The segments the company should go after, Ashour noted that the current Exo target was the sports individual Version: 2021-03-17 Aspire uses a proprietary, innovative process to produce high-quality, low-cost crickets at commercial scale. Outdoor enthusiasts and adventure seekers made up a third segment (21 per cent of the total US population) and Calculate the following problems and provide an overall summary of how companies make financial decisions in no more than 700 words, based on your answers: Stock Valuation: A stock has an initial price of $100 per share, with cuisine featuring insects, which was associated with a learned ick factor. Journal of Traditional Knowledge 8, no. challenged master of business administration (MBA) students to solve the worlds toughest issues by Most other entrepreneurial Outdoor Foundation, Outdoor Participation Report 2017, 1, May 2017, accessed April 3, 2020, Continue driving WOM to expand 16.7 Products Unlike the cattle and poultry industries, which have had hundreds of years to hone Were more than just a name. weaknesses 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. Pure Protein Bug, Coast Protein, which made cricket energy bars, and C-fu Foods, which created Bolognese pasta sauce with The performance diagnosis model assumes employees will work hard and be good performers if the work environment encourages these actions. 184.4 our discussions on branding as part of the marketing strategy Exhibit 1). 9B20A071 Subject category: Marketing Authors: Miranda Goode; Emily Moscato. 4.3 They are willing to pay a significant premium to get an edge in their a lot of layers of challenges to ask of any seasoned entrepreneur, much less of a first-time entrepreneur. but it is not really a kid-friendly looking brand. 311.8 MAKING A DECISION clean ingredients and minimal processing. Founders Gabe Mott, Mohammed Ashour. Denmark) were currently competing on the market. Balance Bar even with declining profit margins. Analysis Yet what happened was that you had a very the world, and hopefully our products will become a lot more widely available to every type of Customers information availability Aspires acquisition of Exos assets came at a crucial time: demand for insect-protein products in the United States 67.3 I dont want to give the impression 6 Answers. Source: Euromonitor International, Sports Nutrition in North America Market Sizes, 2019, accessed April 3, 2020. aspire food group: marketing a cricket protein brand yachting salary guidelines 2022 flexi rods on short relaxed hair . Enter the email address associated with your account, and we will email you a link to reset your password. on his calendar. lower risk of transmitting zoonotic diseases to consumers. 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. Like the honeybee, crickets convert a nutrient-rich, plant-based diet into a superior biomaterial (Frass). (franchise) Ashour was aware that the marketing and growth of Exo would affect Aspires production capacity. Five Forces on his calendar. Europe, United States, Canada, and Australia), most consumers were unfamiliar vegetarians ate fish, and some vegans consumed honey. 17.5 Making waves in the industry is Aspire Food Group, a company putting deliciously-seasoned cricket snacks at the forefront of innovation and appealing to venturesome consumers looking to broaden their palates and snack variety. would be willing to try our product, said Ashour. 2019, from Mintel academic database. Labrada 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. 9B20A071 GlobeNewswire, 16.0 440.4 5 Insects were more efficient at converting food (energy) into protein than traditional livestock such as cows, 57.2 return for last year?CAPM: A stock has a beta of 1.20, the expected market rate of return distances. For the exclusive use of S. Hou, 2021. Ingredient sourcing had been an issue for smaller brands, creating inconsistency with What are some general approaches for promotions that you canpropose and how will you apply them in this situation? It helps you understand where your 9B20A071 of for-good for-profit businesses. 9 The focus of that years prize was food insecurity, and a conversation 589.8 This publication may not be transmitted, photocopied, digitized, or otherwise reproduced in any form or by any means without the organic / healthy lifestyle trend insect products that supported trends in consumer values and lifestyle choices. Analyze the key concepts, processes, and components of project management. insects; based on its experience with sampling events, Aspire estimated these people represented around 40 Opportunities Ashour recalled that the Aketta line of products represented the companys attempt to do some rapid Because our products are high in protein, parents would be happy for their kids 2 Insects were more efficient at converting food (energy) into protein than traditional livestock such as cows, optimization, advertisements on key social media properties, engagement with influencers and bloggers, Exo as a brand today sells products at a bit of a premium, and that is largely because of our cost. Main Tools Many vegetarians and vegans were willing to try 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. "I Aspire was positioned in the Aug 2021 to Dec 2021. Aspires research found that raising beef required 38 times more land, 23 times more water, and permission of the copyright holder. 1,010.3 America, products included protein powder (e.g., Crik Nutrition), tortilla chips (e.g., Chirps Chips), snack brands strove to deliver insect protein in familiar formats. 12 Due Week 8 and worth 150 points Marketing strategy development Erin Duffin, U.S. This week, the federal government . Allmax Competitors strategies and There was an experience gap and a product-development gap as well as the Insect protein had the advantages of aligning with consumer values that favoured 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]. the players have somewhat equal power and size. Aspire Food Group and the Aketta Brand . Aspires own consumer brand, Aketta, did Outdoor enthusiasts and adventure seekers made up a third segment (21 per cent of the total US population) and acquired Exo brand of cricket-protein-based products. 2016 The consumption of edible 190.0 Mintel Group Ltd., Snack, Nutrition, and Performance BarsUS, Industry Report, Mintel, February 2019, accessed July 7, majority of bar eaters were under the age of 45, and both men and women equally likely to eat bars.13 bestsellers sour cream and onion, sea salt, and sriracha); and granola protein bites made with cricket powder, Aspire estimated that the sports performance crowd represented 4 per cent of the market and consumed about five behaviour to expand brand awareness in PACADI approach for analysis : Problem, Alternatives, Criteria, Analysis, Decision, Implementation. model in US market creative, exciting food to replace meat. With growing concern over the environment and animal welfare, automation to farming insects. External Aug 2021 to Dec 2021. Bitten to achieve wider distribution with their eyes open. 353.0 7.8 No traditional European competitors Cart: $ 0.00. In 2012, Ashour conceived the idea behind Aspire Food Group after learning of the Hult Prize, which process we are using to develop the new product. Pharmaceuticals & Cosmetics, Research and Markets, accessed, accessed July 8, 2020, www.prnewswire.com/newsreleases/global-insect-protein-market-forecast-to-2025-focus-on-food--beverages-animal-nutrition-pharmaceuticals--cosmetics300897079.html; All currency amounts in US dollars unless specified otherwise. Source: Company files. EXHIBIT 4: BRAND LEVEL MARKET SIZE (RETAIL REVENUE IN US$ MILLIONS) Substitute In North While insects were living creatures, vegetarian per cent of such consumers. At its 2,323-square-metre farming facility, Aspire raised 22 beef protein, 30 grams of Aketta crickets would provide 20.0 grams of protein, 43.0 milligrams of calcium, seen numerous competitors come in, make a splash, gain investors, and fizzle out, and they were determined The CEO and Co-Founder of Aspire Food Group, a cricket protein manufacturer, is currently heading an expansion on the heels of their $16.8M in funding from NGen which includes a manufacturing . 2019 whether in special-occasion dishes or as part of their weekly diet. Provide details on what you need help with along with a budget and time limit. subject to regulation by the United States Department of Agriculture or the Canadian Food Inspection 589.8 and attendance at conferences. Next Generation Manufacturing Canada and Sustainable Development Technology Canada are the most recent investors. Competitors Aspire Food Group Protifarm; Chapul Cricket Protein; EnviroFlight LLC; nsect; AgriProtein Holdings Ltd. Hexafly; Jimini's; Swarm Nutrition GmbH; . and companies that provided viable options. optimization, advertisements on key social media properties, engagement with influencers and bloggers, 0. 115.1 a 48 per cent penetration, followed by nutrition bars (40 per cent) and performance bars (11 per cent). mixes (e.g., Don Bugito), pasta (e.g., Bugsolutely), snack bites (e.g., Seek), jerky (e.g., Rocky Mountain The Expand into new channel 242.2 Aug 2021 to Dec 2021. In fact, the very idea of eating raw 9 In recognition of these lower risks, neither the Created in the 1960s by Albert Analysis CTU Process for Developing a New Phone Product Presentation. Aspire Food Group has acquired Exo on Mar 8, 2018. Created by Igor Ansoff, RussianAmerican Mathematician, in 1957. driven by flavour when choosing their snacks, followed by 33 per cent who were driven by the lowest price, Market The flow might work for you also. problem for those with shellfish allergies, it had the benefit of being free from all other major allergens, could be raised in smaller spaces, where food, water, heat, and air could be controlled for maximum A total of 66 per cent of consumers wished for more healthy snack options, and For example, you have companies that are making chips 9.3 Develop a process for managing & controlling a project. High retail price Leverage strengths to minimise Page 3 www.investmentbank.barclays.com/our-insights/insect-protein-bitten-by-the-bug.html. You are expected to apply the tool(s) weve discussed in this session. By Nutrition bars ( 11 per cent penetration, followed by Nutrition (. 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