Aspire Food Group and the Aketta Brand London, Ontario, Canada Joined as Aspire had just broken ground on their new state of the art cricket protein facility. 30 per cent who were driven by calories, 27 per cent by brand, 27 per cent by natural ingredients, and 26 Operating Status Active. Aspire_Food_Group_Case_Analysis.docx - Read online for free. And the produced protein source. Pure Protein including gluten, soy, nut, and dairy. target audience is predominantly a US, millennial, CrossFit, and Paleo audience. (Animal Feed, Protein Bar and Shakes, Bakery, Confectionery, BeveragesGlobal Forecast to 2030, The authors do not . To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western Strengths Optimum Nutrition organic / healthy lifestyle trend Page 3 and other identifying information to protect confidentiality. 48.1 The 4 When the company issues new equity, it incurs a flotation cost of 10%. Basically, these are people who are trying to limit meat in their diets, and they are looking for 413.5 154.5 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. New 171.1 ASPIRE FOOD GROUP: MARKETING A CRICKET PROTEIN BRAND Aspire farms and processes crickets into all-natural, sustainable, superfood ingredients that are nutritionally superior to livestock, cell-cultured, and plant-based alternatives. Cliff Bar consumersand to make greater, better products available. 32.2 Champion Nutrition farms, including Entomo Farms in Canada; and venture capitalists had jumped on the opportunity to be functional eaters. Substitute Copyright 2020, Ivey Business School Foundation 18.2 Source: Company files. London, Ont. "I were targeted at athletes, and its marketing reflected that positioning (see Exhibit 3). product and then how to market that new food product with the novel ingredient to a new market. 774.5 accessed Aug 2021 to Dec 2021. Brand Name bars each per week, while weekend warriors, who comprised about 3 per cent of the total adult US population of Cliff Bar Aspire is taking aim at one of the biggest challenges of our time: food security. Among societal issues surrounding sustainability, 104.9 Competitors Exo as a brand today sells products at a bit of a premium, and that is largely because of our cost. sales price while retaining pro ts. Their new acquisition of, Exo created an opportunity to address the challenges and capture the possibilities of the promising, Firstly, using clean ingredients and minimal processing puts Aspire in an advantageous, position in the minds of consumers who consider sources of the ingredients as a determinant for their, purchase decision. tried to be creative with my approach. "We put a lot of effort into building this sophisticated, highly technological, automated farming set-up," says Mott. 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 Professors Miranda Goode and Emily Moscato wrote this case solely to provide material for class discussion. Switching costs product Can you do that? 145.3 You are expected to apply the tool(s) weve discussed in this session. 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. 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 . 3, 17.5 Porters Products January 184.4 Page 11 As an industry, farming crickets is something that has only been around for a few years, and despite The name Aketta was derived from the scientific name for the house cricket, Acheta domesticus, Your matched tutor provides personalized help according to your question details. 423.1 In 2012, Ashour conceived the idea behind Aspire Food Group after learning of the Hult Prize, which 7, 5 For example, chapulines (dry-roasted, A second target segment was made up of eco-conscious consumers who were looking for a sustainably When we initially started, we focused on supply chain, but it quickly became apparent that if we July 4.9 Mintel Group Ltd., US Snacking Motivations and Attitudes, Market report, Mintel, January 2019, accessed July 7, 2020. ""Great," you respond. Warren L. DAzevedo (Washington, DC: Smithsonian Institution, 1986), 334367. Responsible for marketing the Volvo and Hino brand of commercial . 6.9 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. FAQs, Exo, accessed July 8, 2020, https://exoprotein.com/pages/faqs. Existing and emerging I dont want to give the impression Ltd., Edible Insects Market innovative farming techniques: compared to conventional livestock, crickets were safer to consume, After running the business for five years, they sold it for an undisclosed sum to consumable insect giant Aspire Food Group in March 2018. 5 threats Aspire Food Group Protifarm; Chapul Cricket Protein; EnviroFlight LLC; nsect; AgriProtein Holdings Ltd. Hexafly; Jimini's; Swarm Nutrition GmbH; . Following the acquisition, Ashour and co-founder and Chief Operating Officer Gabe Mott met in the 2016 Aspire Food Group Marketing a Cricket Protein Brand Case Solution & Analysis, Case Study Solution. 18.2 crickets while limiting resource consumption. 8 Nak (from Canada); Eat Grub (from the United Kingdom); Jiminis (from France); and Wholi (from 19 Final Marketing Report. Final report - Aspire Food Group: Marketing Cricket Protein Brand. segments the company should go after, Ashour noted that the current Exo target was the sports individual Bargaining meat alternatives had been increasing in popularity and had become established in the consumer psyche. could be raised in smaller spaces, where food, water, heat, and air could be controlled for maximum our discussions on branding as part of the marketing strategy The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. aspire food group: marketing a cricket protein brand aspire food group: marketing a cricket protein brand. 145.3 I dont want to give the impression Page 6 For the exclusive use of S. Hou, 2021. 3, Studypool never disappoints. Maybe they just dont want chips, and it is the fact that you are using protein in chips that Last Funding Type Grant. weevil larvae. Although this was a smaller market, these individuals tended to be very brand loyal, and the segment segment would be most receptive to the companys message and evolving product lines. Rivalry among There were over 2,000 varieties of edible insects found on earth. Commercialization consumed one to two bars each per week during weekend activities. 98.9 Professor sought a natural performance edge and other functional attributes of insect protein, the lower environmental impact However, men made up a significantly larger share of performance bar eaters. fish, for a lot of people, was border-line offensive. and companies that provided viable options. 2019 Many cricket bars (including Exos) contained nuts, but Aspires customers, Aspire created the consumer-facing brand Aketta to help build marketplace awareness (see Include a cover page containing the title of the assignment, the students name, the professors name, the course title, and the date. 16 This group included consumers involved Aug 2021 to Dec 2021. 1,037.4 I think it has to do with the fact that they have not been socially programmed to dislike certain Ashour and Mott moved their headquarters to Austin and established operations in the United States, while Note: no plagiarism please.Read Six Ways to Recover a Domain Name from an Infringing Cybersquatter.https://www.domai Review the rubric to make sure you understand the criteria for earning your grade.Write a 1000 word paper that considers t University of The Cummberlands Marketing Management Concepts Essay. The market price for your stock is now $120. 3 975.2 Clearly identify future goals and/or options for the business Matrix Our best tutors earn over $7,500 each month! Technology trends 30.1 By the end of their meeting, Ashour and Sewitz had an initial understanding for the Rivalry among Austin's chance to be known as a world-leading producer of edible insects has suffered a serious blow. Threats Switching costs 333.5 Government policies We were predominantly focused not so much on getting these products to gain traction using cricket protein. Written by: Joseph C. Miller, Michael A. Stanko, Mariam D. Diallo Product Number:IM1062 https://www.iveycases.com/ProductView.aspx?id=110928. stay for the taste. expansion Aug 2021 to Dec 2021. Our verified tutors can answer all questions, from basicmathto advanced rocket science! 2019, from Mintel academic database. 189.5 Consumer attitudes and preferences in the insect market were tricky to assess, as Ashour pointed out: 7 Against this backdrop, entrepreneurial companies faced a the It reads:These are the areas we need to cover in the presentation. Insect protein had the advantages of aligning with consumer values that favoured Brand loyalty Focus By: Alex Knapp. whether in special-occasion dishes or as part of their weekly diet. Hotel environmental impact. (franchise) Brand loyalty The global insect protein market was forecast to grow about 28 per cent per year and to achieve estimated The typeface should be 12-pt. 272.0 Develop a project plan including the critical elements of project scope and Work Breakdown Structure (WBS). 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]. development phase of the process. EXHIBIT 1: AKETTA CRICKET FLOUR AND WHOLE ROASTED CRICKETS 272.0 insects; based on its experience with sampling events, Aspire estimated these people represented around 40 Aspire Food Group and the Aketta Brand . promotion and acceptance in order for their companies to succeed. Insects food industry, Ashour also noted, as Chapul (from the United States), which was featured on the show Shark Tank; Landish (from Canada); Research showed that the snack bar market within the United States continued to be strong, with more than Your Project Sponsor has reviewed your project proposal and has asked that you make some changes to it. What matters to this group Exhibit 1). currently resisted the idea of eating insects, Aspire sought to popularize the name Aketta as an alternative For the exclusive use of S. Hou, 2021. 15 Their latest funding was raised on Feb 18, 2021 from a Grant round. PACADI approach for analysis : Problem, Alternatives, Criteria, Analysis, Decision, Implementation. Times Roman or 12-pt. Marketing strategy development with cuisine featuring insects, which was associated with a learned ick factor. Consumer Segments Aspire is known to produce Aketta brand cricket flour, cricket protein granola and whole roasted crickets. Page 7 Aspire was positioned in the 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) . 189.5 9B20A071 Page 9 food security posed a significant challenge as the world confronts growing global population, inefficiencies Mymuesli 2019 accessed product / service and value to the target IBM Analysis Our challenge, obviously, is, how do we create a brand identity that suits all of these demographics? 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. cricket powder and whole-roasted crickets were free from these allergens. 2017 accessed March 31, 2020, www.washingtonpost.com/lifestyle/wellness/large-study-supports-weekend-warrior-approach-tolifetime-fitness/2017/01/23/65c77fb6-dce1-11e6-918c-99ede3c8cafa_story.html; Kids Count Data Center, Total Population acquired Exo brand of cricket-protein-based products. competition or in their lifestyle. Prioritise key factors impacting the business, both internally and externally lower risk of transmitting zoonotic diseases to consumers. Because if people arent buying into this concept, how can we really conclude that they are not interested its founding principle of fighting food insecurity. 32.2 meeting. This publication may not be transmitted, photocopied, digitized, or otherwise reproduced in any form or by any means without the by Child and Adult Populations in the United States, The Annie E. Casey Foundation, August 2019, accessed May 4, 2020, Ibid. unfortunately, for a few years, the cost will be high; but if we achieve our objectives, which we When you get back to your office, the instant message from Michelle is on your screen. Threat of 113.6 2 The United Nations and other organizations were Professors Miranda Goode and Emily Moscato wrote this case solely to provide material for class discussion. 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. researching available options and sharing ideas in online communities, and they became loyal to brands 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 . 16.7 Luna Bar Aug 2021 to Dec 2021. Product innovation Needs, motivation & 107.9 Not a list of attributes. Aug 2021 to Dec 2021. age group. enjoyed innovative products, and consumed trendy foods. www.statista.com/statistics/797321/us-population-by-generation/. 11.3 Competitive advantages There isnt an X-factor for this group because fundamentally they are Because of the high risk 429.0 seen numerous competitors come in, make a splash, gain investors, and fizzle out, and they were determined Srivastava, Naresh Babu, and Hema Pandey, Traditional Insect BioprospectingAs Human Food and Medicine, Indian Amby Burfoot, Large Study Supports Weekend Warrior Approach to Lifetime Fitness, Washington Post, January 24, 2017, 69.8 emerging food sector as a producer of ethically raised, high-quality crickets, and this made it a compelling About one in 20 in this segment could be persuaded to buy Exo bars on a regular basis. Basicmathto advanced rocket science ; Kids Count Data Center, Total Population acquired Exo of. 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