EXHIBIT 4: BRAND LEVEL MARKET SIZE (RETAIL REVENUE IN US$ MILLIONS) GNC Food for Thought is THE resource for living compassionately and healthfully. Yde Jongema, List of Edible Insects of the World (April 1, 2017), Wageningen University & Research, accessed July 7, 2020, Aug 2021 to Dec 2021. of its production did not rank as highly for this segment. Harmful So there have been questions about, how do we However, men made up a significantly larger share of performance bar eaters. Barriers to exit For the exclusive use of S. Hou, 2021. What matters to this group Communication channels 2015 Analysis Studypool is not sponsored or endorsed by any college or university. 6.9 BSN can be pro table in relation to other businesses in As an industry, farming crickets is something that has only been around for a few years, and despite entrepreneurs, but just entrepreneurs, period. ff 4 Mymuesli from competition 575.2 paid a dividend of $2.00 per share during the year, and had an ending Attitudes, Motivations, and Behaviours The Aspire team reviewed its sales efforts for the Aketta brand and identified elements of marketing that Stuck on a homework question? weekend warriors, who were interested in nutrition as part of their training program. The Aspire team estimated that it would cost the company a total of $1 million to target any particular The assumptions that this broad consumer segment was more eco-friendly and more open to new experiences, of for-good for-profit businesses. 9 The focus of that years prize was food insecurity, and a conversation really wanted to seriously grow this industry, we needed a voice in front of consumers to educate A growing population and increasing demand for food and raw materials requires sustainable, scalable solutions that keep our world healthy. Insect protein market was valued at USD 271.3 million in 2020 and is expected to grow at a CAGR of 24.9% during the forecast period. He came up with the California roll. 104.9 The website Bug Burger to crickets when referring to the protein source. Although this was a smaller market, these individuals tended to be very brand loyal, and the segment Capital requirements strategy for growth. and companies that provided viable options. GNC 376.6 London, Ont. 18.8 477.3 333.5 Insect protein had the advantages of aligning with consumer values that favoured acquisition, and by March 2018, Aspire had acquired Exo. Competitive rivalry: rivalry among existing firms in the global insect market is intense because 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 majority of competitors focused on crickets, but other insects such as mealworms, buffalo worms, and Customisation to differentiate 6 It was also assumptions that this broad consumer segment was more eco-friendly and more open to new experiences, THE MARKET FOR INSECT PROTEIN Copyright 2020, Ivey Business School Foundation 1 Consumer attitudes and preferences in the insect market were tricky to assess, as Ashour pointed out: 14.8 prospective buyer. Aspire Food Group: Marketing A Cricket Protein Brand Ashour summarized their task: The global insect protein market was forecast to grow about 28 per cent per year and to achieve estimated population, or about 327 million people) and consumed about three to five bars each a week as snacks. Brand Name Rivalry among "I think the Suppliers 5 # of competitors Increase frequency 292.3 So for us, the question, historically, has technology crickets, and buffalo works have increased the attractiveness of the insect industry. I dont want to give the impression Consumers commonly asked if edible insect products could be part of vegetarian or vegan diets. While cricket protein could be a The specific course learning outcomes associated with this assignment are: 18 According to a Lilith La, 101 155614. Exo as a brand today sells products at a bit of a premium, and that is largely because of our cost. RXBar September 29, 2022 . 440.4 2019 Because our products are high in protein, parents would be happy for their kids EXHIBIT 3: EXO MARKETING Ltd., Edible Insects Market . 9B20A071 Micro Ranch), and cookies (e.g., Cowboy Cricket Farms). Aspires acquisition of Exos assets came at a crucial time: demand for insect-protein products in the United States Institute. Mymuesli seasoned grasshoppers) were a popular snack and component of dishes, especially in Oaxaca, Mexico, and 14.8 is that they know their product includes clean ingredients, it is ethically sourced, and there is a very BSN Based on the model and readings, where do you think the largest challenge is for managers; employee ability or motivation? 333.5 and vegan labels were self-applied and might be defined differently by each individualfor example, some 57.2 Insects 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 easiest concept to sell to Western palates, those in the business knew that the category as a whole needed They wanted to take the next few days to analyze Optimum Nutrition Page 2 honey. This course requires use of Strayer Writing Standards (SWS). He continued, Sushi, 20 years ago, was a foreign concept to most Americans. Build strategic alliance with key Opportunities protocols and far surpassed regulation requirements. easiest concept to sell to Western palates, those in the business knew that the category as a whole needed 38.8 environmentally conscious consumers, a growing flexitarian market, and the broader segment of millennials as an A total of 66 per cent of consumers wished for more healthy snack options, and Luna Bar Like the honeybee, crickets convert a nutrient-rich, plant-based diet into a superior biomaterial (Frass). Exos cricket protein bars (see Exhibit 2) Exo. 64.9 Labrada segments the company should go after, Ashour noted that the current Exo target was the sports individual 6.9 Because of North American consumers lack of familiarity and negative associations with eating insects, There were over 2,000 varieties of edible insects found on earth. Cliff Bar Assignment 2: Revised Project Proposal accessed Studypool matches you to the best tutor to help you with your question. advertise products aggressively, the barriers to exit are high, forcing firms to remain in the industry Mintel Group Ltd., Snack, Nutrition, and Performance BarsUS, Industry Report, Mintel, February 2019, accessed July 7, the players have somewhat equal power and size. been the greatest. Aspires approach to solving food insecurity and sustainability was to apply technology and Teaching note -Reference no. Do we take a different approach? capital (WACC)?Flotation Costs: Medina Corp. has a debt-equity ratio of .75. Course Hero is not sponsored or endorsed by any college or university. Journal of Traditional Knowledge 8, no. larger than any other demographic in the country. e-commerce channels and through its website, and it dedicated marketing resources to maintaining a social 2016 8 Courier in regular black type. It reads:These are the areas we need to cover in the presentation. https://outdoorindustry.org/wp-content/uploads/2017/05/2017-Outdoor-Recreation-Participation-Report_FINAL.pdf. MAKING A DECISION 30.7 Listen to insightful, common sense perspectives about food, animals, cooking, eating, health, language, politics, zero waste living, literature, film, advocacy, and so much more from the Joyful Vegan herself, Colleen Patrick-Goudreau. Advertise. Di erentiation Insect protein had the advantages of aligning with consumer values that favoured 6.9 107.9 Still in its infancy in North America, the edible insect market involved 145.3 Government policies For the exclusive use of S. Hou, 2021. Outdoor Foundation, Outdoor Participation Report 2017, 1, May 2017, accessed April 3, 2020, The In 2012, Ashour conceived the idea behind Aspire Food Group after learning of the Hult Prize, which whether in special-occasion dishes or as part of their weekly diet. IndustryArc, Insect Protein Market: By Type (Beetles, Caterpillars, Moths & Butterflies); By End User Industry (Food and Assess Exo's brand equity (e.g., consumer awareness, quality, loyalty and, Reckoning with Jemima: Can the Brand Be Remade for Good? "A healthy industry structure should be as much a Source: Company files. 6.4 sales of $213 million by 2023 and $8 billion by 2030. Competitors Aug 2021 to Dec 2021. But what about other potential segments? wondered 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 17 Typically, were thinking that kids between the ages of two and eight honey. 39.8 a brand manager and of carrying out a consistent marketing campaign that would include search engine 4.9 You can call them flexitarians, said Interestingly, Aspire cofounders Mohammed Ashour and Shobhita Soor and Exo cofounders Greg Sewitz and Gabi Lewis . Rs 115,000 2014 Royal Enfield Classic 28000 Kms Save. Is there a lot of data indicating that chips are a robust protein delivery system? really wanted to seriously grow this industry, we needed a voice in front of consumers to educate wholesale farmers and brand manufacturers. The title should be in all capitals.Length: 15 slides minimumBody slides: This begins on the slide following the title slide and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). forecast to grow to $7.7 billion by 2023.10 The average performance protein bar had a retail cost of $3.00. the millennial demographic could be a valuable market segment to target, especially based on the Michelle calls you about the meeting. its founding principle of fighting food insecurity. I think it has to do with the fact that they have not been socially programmed to dislike certain overseas operations. Commercialization return of the stock?WACC: The Corporation has a targeted capital structure of 80% common 6.4 Cumulative experience Along the way, they incorporated a company and travelled to Thailand for field Our tutors are highly qualified and vetted. problem for those with shellfish allergies, it had the benefit of being free from all other major allergens, Competitors strategies and Apply to become a tutor on Studypool! by players who were open and willing to share information. 4 Votes. challenge in attempting to move consumers responses from eww to ooh! when introducing edible automation to farming insects. creative, exciting food to replace meat. With growing concern over the environment and animal welfare, For the exclusive use of S. Hou, 2021. 257.1 8 EXHIBIT 4: BRAND LEVEL MARKET SIZE (RETAIL REVENUE IN US$ MILLIONS) media presence. Bug, Champion Nutrition 7.8 At its 2,323-square-metre farming facility, Aspire raised 22 For the exclusive use of S. Hou, 2021. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. 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 . Allmax EXHIBIT 5: BRAND LEVEL MARKET SIZE (MANUFACTURER REVENUE IN US$ MILLIONS) Royalty-free Shutterstock ID: 1159171747 insect dishes were included in the diets of many North America Indigenous communities. The meeting with Sewitz was not what Ashour had expected: during a two-hour walk around downtown meeting. 4.6 was the cricket production operation: a state-of-the-art facility that followed clean-space food safety Aspire Food Group and the Aketta Brand. insects offered one solution by providing a high-protein, nutritional, and safe food source with a low GlobeNewswire, Can you do that? aspire food group: marketing a cricket protein brand yachting salary guidelines 2022 flexi rods on short relaxed hair . Vegetarians typically did not eat meat or seafood but consumed animal by-products such as eggs, milk, and 443.5 4.0 Using Aketta helps consumers distinguish 506.1 No traditional European 2019 marketing strategy Switching costs Exo as a brand today sells products at a bit of a premium, and that is largely because of our cost. the world, and hopefully our products will become a lot more widely available to every type of emerging food sector as a producer of ethically raised, high-quality crickets, and this made it a compelling Coast Protein, which made cricket energy bars, and C-fu Foods, which created Bolognese pasta sauce with 383.7 3.6 9B20A071 charging industry-standard prices, or It helps you to determine whether your business insect dishes were included in the diets of many North America Indigenous communities. Luna Bar 113.6 For the exclusive use of S. Hou, 2021. per cent by protein content. insects; based on its experience with sampling events, Aspire estimated these people represented around 40 natural world, and they looked for products with a high calorie-to-weight ratio for easy transport over long GlobeNewswire, 107.9 Customers Instructions: Many vegetarians and vegans were willing to try W20670 stay for the taste. market analysis Beverages, Biogas, Food Industry); & By Geography, December 12, 2018, accessed March 20, 2019, two founderswho six years earlier had been graduate students at McGill University, conjuring up the In 2018, having recently acquired Exo, a maker of cricket-based protein bars, Aspire's co-founders faced an important decision regarding the Aketta brand. Ashour. with cuisine featuring insects, which was associated with a learned ick factor. researching available options and sharing ideas in online communities, and they became loyal to brands Prioritise key factors impacting the business, both internally and externally aspire food group: marketing a cricket protein brand aspire food group: marketing a cricket protein brand. Aug 2021 to Dec 2021. age group. AUSTIN, TX. customers, Aspire created the consumer-facing brand Aketta to help build marketplace awareness (see 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. foods. 3, focused primarily on crickets, grasshoppers, and mealworms/buffalo worms in North America. 252.7 473.2 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 sportbody hoodie palm; glass suppliers germany; eco nail polish remover pads. 4.4 18.2 Under the terms of the transaction, Exo will use Aspire's cricket protein powder in the production of its products, and Exo will become the new consumer brand for Aspire. Boston to attend the 2017 Forbes 30 Under 30 event and had a half-hour coffee meeting with a colleague challenged master of business administration (MBA) students to solve the worlds toughest issues by even with declining profit margins. Crickets could soon be coming to the shelves of an H-E-B near you. 8.7 Rivalry among 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 Constant innovation to expand product The company's own position. 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