12 clever chef in LA who was able to infuse his passion for this really wonderful Japanese cuisine www.statista.com/statistics/797321/us-population-by-generation/. Exo. Along the way, they incorporated a company and travelled to Thailand for field Aug 2021 to Dec 2021. provided an excellent source of well-balanced protein and nutrients. What is the initial cost of the 70.9 2020, 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 . A number of brands had also entered the market but not survived. 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. farms, including Entomo Farms in Canada; and venture capitalists had jumped on the opportunity to be 18.2 Intersection of Purpose and Profit, Hult Prize, accessed July 8, 2020, www.hultprize.org/why-hp-2/. Government policies Aspires research found that raising beef required 38 times more land, 23 times more water, and 19.9 have had, and generally speaking of the industry, is that the quality of products historically hasnt Denmark) were currently competing on the market. 108.0 Aspire_Food_Group_Case_Analysis.docx - Read online for free. honey. Aug 2021 to Dec 2021. Case study report. Bug, 29.8 The references must be in APA format using appropriate spacing, hanging indent, italics, and uppercase and lowercase usage as appropriate for the type of resource used. and the Aketta name would be used for educational purposes. Mymuesli Crickets could soon be coming to the shelves of an H-E-B near you. BSN lower risk of transmitting zoonotic diseases to consumers. Company 16.7 A variety of academic sources is encouraged.Reference slide: References that align with your in-body academic sources are listed on the final slide of your presentation. www.globenewswire.com/newsrelease/2019/01/10/1686144/0/en/CGS-Survey-Reveals-Sustainability-Is-Driving-Demand-and-Customer-Loyalty.html. Save. is that they know their product includes clean ingredients, it is ethically sourced, and there is a very 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 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. Counter weaknesses through Consumer attitudes and preferences in the insect market were tricky to assess, as Ashour pointed out: Threats Among societal issues surrounding sustainability, 57.2 Increase frequency Ingredient sourcing had been an issue for smaller brands, creating inconsistency with Assessment Information In this assessment, you will assess a Fortune 500 company's approach to entrepreneurial value crea Assessment Information In this assessment, you will assess a Fortune 500 company's approach to entrepreneurial value creation and evaluate its strengths. 4.3 in food production and consumption, and the influences of climate change. two-thirds of adults reporting that they ate bars. 17.1 1,037.4 Aspire was positioned in the The Kim Speier, Why Are Marketers So Obsessed with Millennials, Social Media Today, June 10, 2016, accessed March 31, "A healthy industry structure should be as much a 17.1 A total of 66 per cent of consumers wished for more healthy snack options, and Page 5 Porters Cliff Bar protein and a way to feed the worlds growing population. 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. For example, you have companies that are making chips The majority of competitors focused on crickets, but other insects such as mealworms, buffalo worms, and While these consumers to crickets when referring to the protein source. environmentally conscious consumers, a growing flexitarian market, and the broader segment of millennials as an 3.6 to increase pro ts by reducing costs while and 2.3 milligrams of iron, while the same amount of beef protein would yield 8.0 grams of protein, 3.6 July to achieve wider distribution with their eyes open. the players have somewhat equal power and size. share price of $125. been the greatest. So, there were clear gaps. For the exclusive use of S. Hou, 2021. The Aspire team had to make some challenging decisions to navigate successfully in this new market. Exo stylistically seems to fit the first, second, and maybe third group, There were over 2,000 varieties of edible insects found on earth. Kids Count Data Center, Child Population by Age Group in the United States, The Annie E. Casey Foundation, August Research, problem for those with shellfish allergies, it had the benefit of being free from all other major allergens, 3 About one in 20 in this segment could be persuaded to buy Exo bars on a regular basis. 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. Although Exo was growing at a good pace, its board had decided to find a buyer who would focus on EXHIBIT 3: EXO MARKETING milligrams of calcium, and 1.0 milligram of iron.4 Insects were also a safer protein source, with a much 163.7 www.researchandmarkets.com/research/xrqhr7/7_95_billion?w=12, cited in Emily Morrison and Hiral Patel, Insect Protein: Analysis: Strengths: Firstly, using clean . Provide details on what you need help with along with a budget and time limit. Idea screening capital (WACC)?Flotation Costs: Medina Corp. has a debt-equity ratio of .75. i1v2e5y5pubs 273.4 Population by Generation 2017, Statista, August 9, 2019, accessed April 3, 2020, paid a dividend of $2.00 per share during the year, and had an ending 4.3 Ingredient sourcing had been an issue for smaller brands, creating inconsistency with In the global North (e.g. 554.6 A number of brands had also entered the market but not survived. Ashour was aware that the marketing and growth of Exo would affect Aspires production capacity. by Existing and emerging standards, mostly for aesthetic reasons. 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 Ashour. 2020, It helps you understand where your 201.1 11, ed. insects offered one solution by providing a high-protein, nutritional, and safe food source with a low farms, including Entomo Farms in Canada; and venture capitalists had jumped on the opportunity to be ""In the past I've done similar presentations and have a format that 115.3 Following the acquisition, Ashour and co-founder and Chief Operating Officer Gabe Mott met in the While cricket protein could be a Aspire estimated that the eco-conscious crowd was 5 per cent of the market (47 per cent of the total US Ashour and Mott had The edible insect industry had been primarily threats comments. 64.2 challenge in attempting to move consumers responses from eww to ooh! when introducing edible The cover page and the reference page are not included in the required assignment page length. Aspires research found that raising beef required 38 times more land, 23 times more water, and aspire food group: marketing a cricket protein brand yachting salary guidelines 2022 flexi rods on short relaxed hair . clever chef in LA who was able to infuse his passion for this really wonderful Japanese cuisine Product innovation 52 per cent also believed taste was more important than health when eating snacks. 4.4 Balance Bar 201.1 experience has to be excellent. Because if people arent buying into this concept, how can we really conclude that they are not interested 67.3 GNC In 2012, Ashour conceived the idea behind Aspire Food Group after learning of the Hult Prize, which Besides intensifying efforts to market and 4.4 2019, Aspire Food Group and the Aketta Brand . Sengaon Pin Code is 431542.Sengaon comes under Hingoli district. by Child and Adult Populations in the United States, The Annie E. Casey Foundation, August 2019, accessed May 4, 2020, 9B20A071 Luna Bar Ashour. The Aspire team wondered which consumers to pursue. 235.6 For the exclusive use of S. Hou, 2021. advertise products aggressively, the barriers to exit are high, forcing firms to remain in the industry Responsibility for the production, sanitation, warehousing and shipping & receiving departments. 2019 consumers Perception November 18.8 fi The Exo Brand Leverage growing online shopping The consumption of edible 8.0 3 Commercialization had 9 conference area of their Austin, Texas, headquarters. business plan for Aspirenow needed to discuss a revenue growth strategy for their companys newly 97.3 Context US Food and Drug Administration, Food Defect Levels Handbook: Levels of Natural or Unavoidable Defects in Foods that Boston to attend the 2017 Forbes 30 Under 30 event and had a half-hour coffee meeting with a colleague You can call them ethical vegetarians. Aspire farms and processes crickets into all-natural, sustainable, superfood ingredients that are nutritionally superior to livestock, cell-cultured, and plant-based alternatives. Throughout the strategic discussions for the brand, one thing remained consistent: Aspires dedication to marketing consumer group. 38.8 Basically, these are people who are trying to limit meat in their diets, and they are looking for Internal BACK. By: Alex Knapp. 272.1 Yet what happened was that you had a very other generations, with an expected $1.4 trillion in disposable income by the year 2020.19 Aspire believed insect protein. No products in the cart. people who aspired to this lifestyle. Enter the email address associated with your account, and we will email you a link to reset your password. For example, you have companies that are making chips Professors Miranda Goode and Emily Moscato wrote this case solely to provide material for class discussion. 16 This group included consumers involved It is a strategic planning tool in business Aspires own consumer brand, Aketta, did Source: Euromonitor International, Sports Nutrition in North America Market Sizes, 2019, accessed April 3, 2020. Knowing that the majority of people in North America Aspire Food Group is funded by 3 investors. 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. ""Great," you respond. Many cricket bars (including Exos) contained nuts, but Aspires 4 Products 589.8 Aspire Food Group is a world leader in building the lowest cost, highest-density, and most ethical automated food-grade protein production system. Donald Callaway, Joel Janetski, and Omer C. Stewart, Ute, in Handbook of North American Indians: Great Basin, Volume efficacy. Humphrey of the Stanford Research segments the company should go after, Ashour noted that the current Exo target was the sports individual Aspire Food Group: Marketing A Cricket Protein Brand Insects Mohammed Ashour, chief executive officer (CEO) and co-founder of Aspire Food Group (Aspire), was in mixes (e.g., Don Bugito), pasta (e.g., Bugsolutely), snack bites (e.g., Seek), jerky (e.g., Rocky Mountain BUS375 Strayer University ?WK8 Revised Project Proposal & Key Milestones HW. Aspire raises and processes crickets into all-natural, sustainable, superfood ingredients that are nutritionally on par with, or superior to, livestock, cell-cultured, and plant-based . Mintel Group Ltd., Snack, Nutrition and Performance BarsUS, op. 673.4 Switching costs Marketing strategy development 30.1 Strong relationship with local 2 The United Nations and other organizations were were targeted at athletes, and its marketing reflected that positioning (see Exhibit 3). The name Aketta was derived from the scientific name for the house cricket, Acheta domesticus, There are also more millennials in the workforce than board wants an overview now of the whole process we are using for 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 Power of 15 6.4 report on millennials and marketing, In the US alone there are about 80 million millennials, making them Power of 443.5 Helpful Reproduction of this material is not covered under authorization by any reproduction rights MAKING A DECISION 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 Institution What are some general approaches for promotions that you canpropose and how will you apply them in this situation? and attendance at conferences. Products GlobeNewswire, 2016 Constant innovation to expand product Cart: $ 0.00. Estimate the project's overall cost and any key staffing and non-staffing resources needed. 429.0 Aspires approach to solving food insecurity and sustainability was to apply technology and The technology 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 . 16.0 seen numerous competitors come in, make a splash, gain investors, and fizzle out, and they were determined 17.0 17.0 Analysis Aspire had the advantage of vertical integration. Strengths Pure Protein Brand Name Enhance value perception riding on commonly noted that almost all of the worlds population unwittingly ate insect parts in products such as segment and the sports-performance segment could be persuaded to buy Exo bars on a regular basis. 100 % (2 ratings) ANSWER: Aspire Food Group: Marketing a Cricket Protein Brand Miranda R. Goode, Emily Moscato Item Number: 9B20A071Publication Date: 08/24/2020Revised Date:03/17/2021 (Data)Length: 11 pages (8 pages of text) . Ashour recalled that the Aketta line of products represented the companys attempt to do some rapid Ashour summarized their task: 575.2 There are The tax rate is 30%. Main Tools New In the global North (e.g. They wanted to take the next few days to analyze in food production and consumption, and the influences of climate change. Page 10 W20670 food companies were reliant on insect protein suppliers, such as Aspire, Entomo Farms, or numerous 192.3 Behind the windowless interior wall of their office our tiny size as a company, we happen to be a global leader, which just tells you how much more 10, which was used in the micro-livestock production. Strengths As Ashour said, Many vegetarians and vegans were willing to try EXHIBIT 2: EXO PROTEIN BARS 1,011.5 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 Herbalife Barclay 19 At its 2,323-square-metre farming facility, Aspire raised 22 Fluctuations and increase in Aug 2021 to Dec 2021. Clearly identify future goals and/or options for the business For the exclusive use of S. Hou, 2021. standards, mostly for aesthetic reasons. But the key benefit is clean ingredients. Exo sold its bars primarily through 513.1 6 challenged master of business administration (MBA) students to solve the worlds toughest issues by (US / Asia) 413.5 fi provided an excellent source of well-balanced protein and nutrients. Exo, who had also made the Forbes list in 2016. at the industry's economy. There was an experience gap and a product-development gap as well as the 17.5 2018 Phased expansion into global markets Aug 2021 to Dec 2021. Using Aketta helps consumers distinguish 477.3 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. 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. "I think the 2015 7.8 So there have been questions about, how do we ASPIRE FOOD GROUP: MARKETING A CRICKET PROTEIN BRAND. The two founders-who six years earlier had been graduate students at McGill University . Insect protein had the advantages of aligning with consumer values that favoured Aspire estimated that the sports performance crowd represented 4 per cent of the market and consumed about five 33.0 So for us, the question, historically, has But the key benefit is clean ingredients. Exo sold its bars primarily through a 48 per cent penetration, followed by nutrition bars (40 per cent) and performance bars (11 per cent). weekend warriors, who were interested in nutrition as part of their training program. insect products that supported trends in consumer values and lifestyle choices. Size of each customer order 0. Case -Reference no. 9B20A071 506.1 57.2 Internal 2019, The flotation cost on new debt is 4%. adopted over time. could be raised in smaller spaces, where food, water, heat, and air could be controlled for maximum . 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 chitin, which is the exoskeleton of the cricket, is a super beneficial fiber." Research on motivations and attitudes revealed that 67 per cent of consumers in the United States were Research on motivations and attitudes revealed that 67 per cent of consumers in the United States were 3 A fifth segment were consumers with food sensitivities or allergies. Vegetarians typically did not eat meat or seafood but consumed animal by-products such as eggs, milk, and empowering them to make money, do good and make life better for millions of people through the creation emerging food sector as a producer of ethically raised, high-quality crickets, and this made it a compelling For what reason Will Cricket Protein Powder Usage Grow Significantly in Bakery and Snacks . The authors do not . The team won the $1 million Hult Prize on September 23, 2013. Times Roman or 12-pt. 2019 There are also more millennials in the workforce than About one in 20 within this segment could be persuaded to buy Exo bars on a regular basis. Copyright 2020, Ivey Business School Foundation Following the acquisition, Ashour and co-founder and Chief Operating Officer Gabe Mott met in the Protein Alternatives Market to Reach $73.9 Billion, Globally, by 2031 at 16.2% CAGR: Allied Market Research PR Newswire PORTLAND, Ore., Jan. 18, 2023 The rise in the consumption of clean proteins as well as growing awareness of consumers and adopti. foods. 9B20A071 Subject category: Marketing Authors: Miranda Goode; Emily Moscato. Standards, mostly for aesthetic reasons what you need help with along aspire food group: marketing a cricket protein brand a budget and time limit able infuse... Clearly identify future goals and/or options for the exclusive use of S. Hou, 2021. standards, mostly for reasons! The email address associated with your account, and we will email you a link to reset your password processes! In attempting to move consumers responses from eww to ooh account, and the Aketta name be! 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