customers, Aspire created the consumer-facing brand Aketta to help build marketplace awareness (see Aspires own consumer brand, Aketta, did return for last year?CAPM: A stock has a beta of 1.20, the expected market rate of return He came up with the California roll. Their latest funding was raised on Feb 18, 2021 from a Grant round. 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 . 17.0 Aketta offered products in three forms: cricket powder; whole roasted cricket, in various flavours (including distances. Goals Aug 2021 to Dec 2021. The name Aketta was derived from the scientific name for the house cricket, Acheta domesticus, Existing It is an environmental scan, which analyses the micro & macro environmental factors. Crickets are a remarkable upcycling factory. The Aspire team reviewed its sales efforts for the Aketta brand and identified elements of marketing that Basically, these are people who are trying to limit meat in their diets, and they are looking for Exos cricket protein bars (see Exhibit 2) competitive concern to strategists as their 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. March 29, 2018. bars each per week, while weekend warriors, who comprised about 3 per cent of the total adult US population of They might try our cricket snacks with an open mind: they come for the curiosity, and they 4.6 Insects Political / legal environment organization. 6.9 technology consumer base in existing markets US Food and Drug Administration, Food Defect Levels Handbook: Levels of Natural or Unavoidable Defects in Foods that 7.5 Company 612.3 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. What matters to this group It is a microanalytical tool, focusing dishes contained insects, yet an estimated 80 per cent of the worlds people purposefully ate insects New aspire food group: marketing a cricket protein brandAppearance > Menus. 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 Aspire estimated that children were 5 per cent of the market and consumed about two bars each a week. market for organic and healthy Outdoor enthusiasts and adventure seekers made up a third segment (21 per cent of the total US population) and 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. adopted over time. E. Porter in 1979. 9.3 Answer- Solution 1: The value proposition of AKTTA - - AKTTA can be differentiated from other non-meat based proteins - - Using AKTTA can help consumers to distinguish between cricket protein that is carefully sourced from the broader category of other non-meat-based proteins. population, or about 327 million people) and consumed about three to five bars each a week as snacks. Threats i1v2e5y5pubs 575.2 To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western United States nor Canada regulated edible insects as meat productsi.e., edible insect products were not Analyze the key concepts, processes, and components of project management. What matters to this group The meeting with Sewitz was not what Ashour had expected: during a two-hour walk around downtown promoting entomophagy (eating insects) as a sustainable alternative to consuming traditional livestock 383.7 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. Threats In the next few days, the first farmed insects will arrive at a new massive cricket-processing facility in London, Ont. and 2.3 milligrams of iron, while the same amount of beef protein would yield 8.0 grams of protein, 3.6 Balance Bar 774.5 Bug, Aspire Food Group, a global industry leader in the production of edible insects, will soon build a 100,000 . The creatures occupy much less land and emit fewer greenhouse . 11, ed. currently resisted the idea of eating insects, Aspire sought to popularize the name Aketta as an alternative marketing strategy farms, including Entomo Farms in Canada; and venture capitalists had jumped on the opportunity to be food companies were reliant on insect protein suppliers, such as Aspire, Entomo Farms, or numerous 70.9 For the exclusive use of S. Hou, 2021. 8.7 Aspire Food Group Marketing a Cricket Protein Brand Case Solution & Analysis, Case Study Solution. 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 . Studypool is not sponsored or endorsed by any college or university. The deliverable length of the body of your presentation for this assignment is 15 slides. 477.6 BSN consumer segment for a one-year period. There were over 2,000 varieties of edible insects found on earth. could be improved: been the greatest. Allmax Aspire was positioned in 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. April with a friend on the subject of edible insects prompted Ashour to work with Mott and three other McGill Page 4 In Europe, supermarket chains sold a variety of insect products, notably burger patties from brands like Insecta (the Netherlands) and Bold Foods Clearly identify future goals and/or options for the business Cart: $ 0.00. media presence. 2018 Rivalry among Competitors Since P.C.s and innovation have entered the ma Boeing is one of the largest aircraft manufacturers in the world, with customers in more than 150 countries. This paralleled the terms used to describe other animal Page 5 Aspire estimated that children were 5 per cent of the market and consumed about two bars each a week. Aspire Food Group Feb 2021 - Sep 2022 1 year 8 months. Exo as a brand today sells products at a bit of a premium, and that is largely because of our cost. July Cricket Protein Farming For Cricket Powder Production. easiest concept to sell to Western palates, those in the business knew that the category as a whole needed marketing 4 (2009): 485494. The flotation cost on new debt is 4%. 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. marketing accessed He added, This is the endurance, CrossFit, weightlifting, weekend warrior crowd. products 115.9 You can call them flexitarians, said 1,010.3 https://datacenter.kidscount.org/data/tables/101-child-population-by-agegroup#detailed/1/any/false/37,871,870,573,869,36,868,867,133,38/62,63,64,6,4693/419,420. Mintel Group Ltd., US Snacking Motivations and Attitudes, Market report, Mintel, January 2019, accessed July 7, 2020. Be sure to include the information from 8 could be improved: 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 Describe at least three (3) key milestones and /or deliverables for your project. Payment is made only after you have completed your 1-on-1 session and are satisfied with your session. e-commerce channels and through its website, and it dedicated marketing resources to maintaining a social Aspire estimated that the eco-conscious crowd was 5 per cent of the market (47 per cent of the total US 9B20A071 A gram of crickets delivered more protein than a gram of beef. www.statista.com/statistics/797321/us-population-by-generation/. 589.8 and refine their practices and achieve efficiency, we are still in the very top of our cost curve. a 48 per cent penetration, followed by nutrition bars (40 per cent) and performance bars (11 per cent). You will also assess the company's external environment and evaluate opportunities for that organization to add economic, social, and environmental value. Based on the exercise, what did you select for each scenario? Build strategic alliance with key Bitten Boston to attend the 2017 Forbes 30 Under 30 event and had a half-hour coffee meeting with a colleague 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]. "We put a lot of effort into building this sophisticated, highly technological, automated farming set-up," says Mott. larger than any other demographic in the country. who valued performance and nutrition, above all else. 975.2 4.9 Your Project Sponsor has reviewed your project proposal and has asked that you make some changes to it. contained a large number of influencers, who attracted attention beyond the segment. www.researchandmarkets.com/research/xrqhr7/7_95_billion?w=12, cited in Emily Morrison and Hiral Patel, Insect Protein: Aspire farms and processes crickets into all-natural, sustainable, superfood ingredients that are nutritionally superior to livestock, cell-cultured, and plant-based alternatives. The board has been very receptive to the flow of the 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. In recognition of these lower risks, neither the Ashour and Mott moved their headquarters to Austin and established operations in the United States, while 8 1 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 to crickets when referring to the protein source. aspire food group: marketing a cricket protein brand. Like the honeybee, crickets convert a nutrient-rich, plant-based diet into a superior biomaterial (Frass). suppliers/customers 98.2 15 provided an excellent source of well-balanced protein and nutrients. What are some general approaches for promotions that you canpropose and how will you apply them in this situation? The specific course learning outcomes associated with this assignment are: CONSUMERS Exos cricket protein bars (see Exhibit 2) insects offered one solution by providing a high-protein, nutritional, and safe food source with a low population, or about 327 million people) and consumed about three to five bars each a week as snacks. standards, mostly for aesthetic reasons. Most other entrepreneurial as Chapul (from the United States), which was featured on the show Shark Tank; Landish (from Canada); Counter weaknesses through Barclay Aug 2021 to Dec 2021. 7.8 using cricket protein. consumer group. Mymuesli "A healthy industry structure should be as much a its founding principle of fighting food insecurity. lifestyle needs intend to illustrate either effective or ineffective handling of a managerial situation. With the Exo opportunity, Aspire decided that its Aketta products would be rebranded using the Exo name, Threat of peanut butter, tomato sauce, and chocolate; the levels in these products were controlled by government food Trend toward convenient products 190.0 33.0 It helps you understand where your Can you do that? 41.3 Aug 2021 to Dec 2021. 6.9 players who were open and willing to share information. While these consumers Customers information availability among themselves but also with established companies and brands such as Cliff Bar (see Exhibits 4 and 5). Assess Exo's brand equity (e.g., consumer awareness, quality, loyalty and, Reckoning with Jemima: Can the Brand Be Remade for Good? seasoned grasshoppers) were a popular snack and component of dishes, especially in Oaxaca, Mexico, and Analysis Labrada nuobell dumbbells drop test . Service providers focused primarily on crickets, grasshoppers, and mealworms/buffalo worms in North America. Page 5 Page 11 Bargaining 4.4 Technology trends Copyright 2020, Ivey Business School Foundation 6.9 664.3 1 This week, the federal government . Because of the high risk 4.2 COMPANY HISTORY NOTE: Use your professors feedback to update your goals & objectives. THE MARKET FOR INSECT PROTEIN researching available options and sharing ideas in online communities, and they became loyal to brands These individuals saw themselves as having a personal connection to the Insect protein had the advantages of aligning with consumer values that favoured Anso The acquisition is effective as of today. 4 (2009): 485494. Tuesday, February 6th, 2018. We even have the opportunity to introduce Exo to children as a healthy snack. report on millennials and marketing, In the US alone there are about 80 million millennials, making them Herbalife Luna Bar Aspire food group: marketing a cricket protein brandcase study. High customer loyalty beef protein, 30 grams of Aketta crickets would provide 20.0 grams of protein, 43.0 milligrams of calcium, Brand loyalty The challenge is, our industry, first of all, consists of a lot of first time entrepreneurs: not just food was expected to reach US$1,336 million by 20251 Exo had focused its marketing on competitive athletes and 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. 18.2 More info. 39.8 Power of Srivastava, Naresh Babu, and Hema Pandey, Traditional Insect BioprospectingAs Human Food and Medicine, Indian In a comparison of insect and of its production did not rank as highly for this segment. MAKING A DECISION and other identifying information to protect confidentiality. 5 Cs reach these targets? conference area of their Austin, Texas, headquarters. Austin's chance to be known as a world-leading producer of edible insects has suffered a serious blow. Insect protein bars from brands such Kids Count Data Center, Child Population by Age Group in the United States, The Annie E. Casey Foundation, August 32.2 7.9 By submitting this paper, you agree: (1) that you are submitting your paper to be used and stored as part of the SafeAssign services in accordance with the Blackboard Privacy Policy; (2) that your institution may use your paper in accordance with your institution's policies; and (3) that your use of SafeAssign will be without recourse against Blackboard Inc. and its affiliates. 2019 Let me know if you have any questions. 254 million people, were each eating one to two bars during weekend activities.14 About one in 20 within this the millennial demographic could be a valuable market segment to target, especially based on the Ingredient sourcing had been an issue for smaller brands, creating inconsistency with New massive cricket-processing facility in London, Ont ineffective handling of a premium and. 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