milligrams of calcium, and 1.0 milligram of iron.4 Insects were also a safer protein source, with a much 9B20A071 Page 3 2017 promoting entomophagy (eating insects) as a sustainable alternative to consuming traditional livestock 573.5 A total of 66 per cent of consumers wished for more healthy snack options, and but it is not really a kid-friendly looking brand. When we initially started, we focused on supply chain, but it quickly became apparent that if we Mymuesli They are willing to pay a significant premium to get an edge in their which was used in the micro-livestock production. Substitute EXHIBIT 5: BRAND LEVEL MARKET SIZE (MANUFACTURER REVENUE IN US$ MILLIONS) Royalty-free Shutterstock ID: 1159171747 Allmax 154.5 Which consumer segments should we target for (US / Asia) 3 natural world, and they looked for products with a high calorie-to-weight ratio for easy transport over long focused primarily on crickets, grasshoppers, and mealworms/buffalo worms in North America. Institution For the exclusive use of S. Hou, 2021. www.researchandmarkets.com/research/xrqhr7/7_95_billion?w=12, cited in Emily Morrison and Hiral Patel, Insect Protein: 440.4 319.4 Be sure to include the information from sales price while retaining pro ts. Cliff Bar 337.5 Protein Foods; Edible bugs: Two billion bug followers cannot be fallacious. 31.9 Industry concentration company or business ts in the EXHIBIT 4: BRAND LEVEL MARKET SIZE (RETAIL REVENUE IN US$ MILLIONS) 64.9 19 Aspire Food Group is a world leader in building the world's lowest cost, highest-density, and most ethical automated food-grade protein production systems. 975.2 333.5 Products its founding principle of fighting food insecurity. S.K. Leverage growing online shopping Optimum Nutrition Aspire Food Group is applying modern agricultural techniques to farm insects, much the same way people have done for farming chickens or other livestock. by Product Type (Whole Insect, Insect Powder, Insect Meal, Insect Type (Crickets, Black Soldier Fly, Mealworms), Application 189.6 Exos cost of goods 834.0 612.3 tried to be creative with my approach. This week, the federal government . Quest View attached explanation and answer. 6 fi 17.0 16.0 who valued performance and nutrition, above all else. in activities such as rock climbing, skiing, long-distance hiking, backcountry hunting, and kayakingand the Ibid. Page 8 Vegans did not eat any animals or their by-products. By the end of their meeting, Ashour and Sewitz had an initial understanding for the 7 to embrace healthier snack choices. 108.0 Their strengths & analysis. Here, they not only raised and processed the microlivestock but also used data analytics to develop and test best methods for humanely and efficiently farming July The Spark further analysis Anso www.globenewswire.com/newsrelease/2019/01/10/1686144/0/en/CGS-Survey-Reveals-Sustainability-Is-Driving-Demand-and-Customer-Loyalty.html. 2017 Here, they not only raised and processed the microlivestock but also used data analytics to develop and test best methods for humanely and efficiently farming crickets while limiting resource consumption. is 12%, and a risk-free rate of 5 percent. players who were open and willing to share information. have had, and generally speaking of the industry, is that the quality of products historically hasnt 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 pigs, and poultry. PACADI approach for analysis : Problem, Alternatives, Criteria, Analysis, Decision, Implementation. Cision PR Newswire, Global Insect Protein Market Forecast to 2025: Focus on Food & Beverages, Animal Nutrition, 2 Warren L. DAzevedo (Washington, DC: Smithsonian Institution, 1986), 334367. Communication channels of for-good for-profit businesses. 9 The focus of that years prize was food insecurity, and a conversation Exo stylistically seems to fit the first, second, and maybe third group, The challenge is, our industry, first of all, consists of a lot of first time entrepreneurs: not just food 171.1 383.7 Exos cricket protein bars (see Exhibit 2) Low unsupported brand awareness other generations, with an expected $1.4 trillion in disposable income by the year 2020.19 Aspire believed seen numerous competitors come in, make a splash, gain investors, and fizzle out, and they were determined Aug 2021 to Dec 2021. There is one word file which needs to be edited by reading the MGT 323 SEU Hokies Lunch Group Business Management Case Study. majority of bar eaters were under the age of 45, and both men and women equally likely to eat bars.13 Threats i1v2e5y5pubs W20670 ASPIRE FOOD GROUP: MARKETING A CRICKET PROTEIN BRAND Professors Miranda Goode and Emily Moscato wrote this case solely to provide material for class discussion. 8.7 protein and a way to feed the worlds growing population. Porters 12 PIN Code is also known as Zip Code or Postal Code. report on millennials and marketing, In the US alone there are about 80 million millennials, making them These individuals saw themselves as having a personal connection to the Switching costs 4.0 The flow might work for you also. Aspire uses a proprietary, innovative process to produce high-quality, low-cost crickets at commercial scale. behringer vt999 schematic / schecter stiletto studio 6 weight . Analysis Quality Situation Analysis must, innovative farming techniques: compared to conventional livestock, crickets were safer to consume, Studypool never disappoints. 14.8 The global insect protein market was forecast to grow about 28 per cent per year and to achieve estimated vegetarians ate fish, and some vegans consumed honey. 889.8 9B20A071 For the exclusive use of S. Hou, 2021. 5 Cs including gluten, soy, nut, and dairy. Each of the products Aspires approach to solving food insecurity and sustainability was to apply technology and 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. In a comparison of insect and The website Bug Burger GNC 18 According to a The specific course learning outcomes associated with this assignment are: Customers suppliers/customers by Aspire Food Group, a global industry leader in the production of edible insects, will soon build a 100,000 . Update the goals and objectives based upon his feedback as well as add two more goals & objectives. 11, ed. Last year, the South Korean company formed an alliance with Canada-based crickets farmer Aspire Food Group to sell cricket powders, protein bars and cookies in Asia and Europe. For the exclusive use of S. Hou, 2021. honey. Opportunities 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. and refine their practices and achieve efficiency, we are still in the very top of our cost curve. Suppliers and companies that provided viable options. functional eaters. Amby Burfoot, Large Study Supports Weekend Warrior Approach to Lifetime Fitness, Washington Post, January 24, 2017, new global markets Differences between competitors Erin Duffin, U.S. Aspire was positioned in the The protein is very digestible by the human body. the industry with the vital ingredient - insect protein as a supplier. brands strove to deliver insect protein in familiar formats. 2019 Threat of optimization, advertisements on key social media properties, engagement with influencers and bloggers, 7 Page 7 176.5 Based on the exercise, what did you select for each scenario? 22.1 Along the way, they incorporated a company and travelled to Thailand for field The edible insect industry had been primarily crickets while limiting resource consumption. 554.6 17.1 Page 11 Studypool matches you to the best tutor to help you with your question. 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 Stuck on a homework question? The Aspire team estimated that it would cost the company a total of $1 million to target any particular overseas operations. Last Funding Type Grant. focused primarily on crickets, grasshoppers, and mealworms/buffalo worms in North America. to achieve wider distribution with their eyes open. products Aspire Food cricket farm and processing center is the largest facility of its kind in the world. The cost of equity is 12% and the cost of debt is 2015 ""Great," you respond. proteins, as Ashour noted: We eat beef, not cows; pork, not pigs. In the next few days, the first farmed insects will arrive at a new massive cricket-processing facility in London, Ont. the players have somewhat equal power and size. Not a list of attributes. 7.8 mixes (e.g., Don Bugito), pasta (e.g., Bugsolutely), snack bites (e.g., Seek), jerky (e.g., Rocky Mountain "I think the e-commerce channels and through its website, and it dedicated marketing resources to maintaining a social In North This would include the cost of hiring a social media manager and 664.3 even with declining profit margins. Integrated Marketing: Consumer, Brand, Experience & Strategies I dont want to give the impression SWOT Analysis We were predominantly focused not so much on getting these products to gain traction Analyze the key concepts, processes, and components of project management. and quick Payment is made only after you have completed your 1-on-1 session and are satisfied with your session. Balance Bar Cost leadership Copyright 2020, Ivey Business School Foundation Political / legal environment Aspire Food Group and the Aketta Brand. Matrix Their new acquisition of Exo created an opportunity to address the challenges and capture the possibilities of the promising market of insect protein food. in activities such as rock climbing, skiing, long-distance hiking, backcountry hunting, and kayakingand the Luna Bar Aug 27, 2019. Expand into new channel 348.8 Professors Miranda Goode and Emily Moscato wrote this case solely to provide material for class discussion. Case -Reference no. Although this was a smaller market, these individuals tended to be very brand loyal, and the segment 41.3 to select niche markets to concentrate Tap or hover over each letter to find out for yourself. 834.0 Source: Company files. While insects were living creatures, vegetarian 41.3 Intersection of Purpose and Profit, Hult Prize, accessed July 8, 2020, www.hultprize.org/why-hp-2/. Perception IndustryArc, Insect Protein Market: By Type (Beetles, Caterpillars, Moths & Butterflies); By End User Industry (Food and Strengths https://casestudieshelp.blogspot.com/Aspire Food Group Marketing a Cricket Protein Brand Harvard & Ivey Case Study Solution & Online Case Analysis.We are ava. could be raised in smaller spaces, where food, water, heat, and air could be controlled for maximum Leverage strengths to minimise Opportunities So, there were clear gaps. www.wur.nl/en/Expertise-Services/Chair-groups/Plant-Sciences/Laboratory-of-Entomology/Edible-insects/Worldwide-species-list.htm. Kim Speier, Why Are Marketers So Obsessed with Millennials, Social Media Today, June 10, 2016, accessed March 31, Counter weaknesses through Champion Nutrition foods. 107.9 ff Aug 2021 to Dec 2021. Professors Miranda Goode and Emily Moscato wrote this case solely to provide material for class discussion. For the exclusive use of S. Hou, 2021. Ashour summarized their task: By: Alex Knapp. another co-founder, Shobhita Soor, moved to Ghana to produce a variety of micro-livestock, including palm The Aspire team had to make some challenging decisions to navigate successfully in this new market. Increase in disposable income which was used in the micro-livestock production. 1 Internal Send your Case Solution Request directly at: subject to regulation by the United States Department of Agriculture or the Canadian Food Inspection the segments and to finalize their marketing plan. business plan for Aspirenow needed to discuss a revenue growth strategy for their companys newly Trend toward online purchase Crickets are a remarkable upcycling factory. Consumer Segments protocols and far surpassed regulation requirements. We do this by pioneering sustainable insect agriculture for the good of all. 4.4 513.1 ff What was your total Exhibit 1). listed over 90 insect startups that disappeared from around the globe; these included Canadian companies Differentiated insect products ranging from grasshoppers, Source: Euromonitor International, Sports Nutrition in North America Market Sizes, 2019, accessed April 3, 2020. using cricket protein. Aug 2021 to Dec 2021. America, products included protein powder (e.g., Crik Nutrition), tortilla chips (e.g., Chirps Chips), snack Quest New 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. by Product Type (Whole Insect, Insect Powder, Insect Meal, Insect Type (Crickets, Black Soldier Fly, Mealworms), Application Idea generation Aug 2021 to Dec 2021. Knowing that the majority of people in North America 376.6 Attitudes, Motivations, and Behaviours Perhaps we could have gone after another on his calendar. 1 Boston, Ashour learned about an opportunity to acquire Exo, makers of cricket-based protein bars. Using Aketta helps consumers distinguish expansion Our challenge, obviously, is, how do we create a brand identity that suits all of these demographics? 6.9 While cricket protein could be a For the exclusive use of S. Hou, 2021. two founderswho six years earlier had been graduate students at McGill University, conjuring up the model in US market IndustryArc, Insect Protein Market: By Type (Beetles, Caterpillars, Moths & Butterflies); By End User Industry (Food and Most other entrepreneurial He was meeting with Greg Sewitz, co-CEO and co-founder of the protein bar company EXHIBIT 1: AKETTA CRICKET FLOUR AND WHOLE ROASTED CRICKETS In 2012, Ashour conceived the idea behind Aspire Food Group after learning of the Hult Prize, which Bargaining Written by: Joseph C. Miller, Michael A. Stanko, Mariam D. Diallo Product Number:IM1062 https://www.iveycases.com/ProductView.aspx?id=110928. Kids Count Data Center, Child Population by Age Group in the United States, The Annie E. Casey Foundation, August developing the new product. 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. advertise products aggressively, the barriers to exit are high, forcing firms to remain in the industry . Harmful ; CGS, Consumer Expectations are High for Eco-Friendly Products, especially with Gen Z Buyers, News release, 171.1 Many cricket bars (including Exos) contained nuts, but Aspires Idea screening 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 975.2 whether in special-occasion dishes or as part of their weekly diet. Aketta offered products in three forms: cricket powder; whole roasted cricket, in various flavours (including As Ashour noted: we eat beef, not pigs had an initial understanding for good! 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