There are environmentally conscious consumers, a growing flexitarian market, and the broader segment of millennials as an age group. Aspire Food Group: Marketing a Cricket Protein Brand will be seriously impacted by this trend because most of the purchases of its products in the industry are done on credit. UN Sustainable Development Goals (UN SDGs): Goal 12: Responsible consumption and production. What would you consider as competitors to Exo? What is the reasoning for your recommendation? Aspire Food Group Marketing a Cricket Protein Brand Case Study Solution & Analysis. eight. when introducing edible insect products that supported trends in consumer values and lifestyle choices. Aspire's own consumer brand, Aketta, did not have the same brand recognition as Exo, and Ashour saw the acquisition as a two-for-one deal that offered both Exo's brand equity and its development of a protein isolate. [Show full abstract] food was more important (44.7%) than brand (29.5%) and price (25.5%) in the decision-making process. We even have the opportunity to introduce Exo to children as a healthy snack." The majority of competitors focused on crickets, but other insects such as mealworms, buffalo worms, and grasshoppers were also used to create bars, snacks, centre-of-the-plate proteins, and powders. 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. Using Aketta helps consumers distinguish carefully sourced cricket protein from the broader category of insects." No traditional European dishes contained insects, yet an estimated 80 per cent of the world's people purposefully ate insects, whether in special-occasion dishes or as part of their weekly diet.5 For example, chapulines (dry-roasted, seasoned grasshoppers) were a popular snack and component of dishes, especially in Oaxaca, Mexico, and insect dishes were included in the diets of many North America Indigenous communities. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. The Case Centre is the independent home of the case method. Get Aspire Food Group Marketing A Cricket Protein Brand Case Study Analysis & Solution. 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 system on the planet. Marketing Mix of Aspire Food Group Marketing a Cricket Protein Brand Aspire Food Group Marketing a Cricket Protein Brand needs to bring out certain responses from the market that it targets. #6 Discuss pricing options and decisions that will have to be made. Astral Foods sees major profit loss due to load shedding, The conditions experienced were far worse than we could have anticipated, said CEO Chris Schutte, Armored truck employee robbed at Tyson plant. The company built its first cricket protein facility September 2014 in Austin, Texas. Financial Markets. propose and how will you apply them in this situation? For example, including frass in the feedstock of tilapia has resulted in better survival and higher yields. What Is the Purpose of An Executive Summary of Power Aspire Food Group Marketing a Cricket Protein Brand An executive summary typically provides a one-page snapshot of the entire report, focusing. This paralleled the terms used to describe other animal proteins, as Ashour noted: "We eat beef, not cows; pork, not pigs. #8 Outline some brief recommendations for Aspire over the next year! mountain bike in the summer. It was also commonly noted that almost all of the world's population unwittingly ate insect parts in products such as peanut butter, tomato sauce, and chocolate; the levels in these products were controlled by government food standards, mostly for aesthetic reasons.7 Against this backdrop, entrepreneurial companies faced a challenge in attempting to move consumers' responses from "eww" to "ooh!" By cluster analysis three segments were identified; the largest group (46. . Poultry Health Today takes a look at how bioshuttle programs are a valuable tool for managing coccidiosis and options for poultry producers raising birds for the No Antibiotics Ever market. Consumers commonly asked if edible insect products could be part of vegetarian or vegan diets.8 Vegetarians typically did not eat meat or seafood but consumed animal by-products such as eggs, milk, and honey. Crickets are a remarkable upcycling factory. Contact us directly at buycasesolutions(at)gmail(dot)com if you want to order for (from the United States), which was featured on the show Shark Tank; Landish (from Canada); Nak (from Canada); Eat Grut the Kingdom); Jimini's (from France); and Wholi (from Denmark) were currently competing on the market. Generate QR Codes for your digital content. Get additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. The team won the $1 million Hult Prize on September 23, 2013. Like the honeybee, crickets convert a nutrient-rich, plant-based diet into a superior biomaterial (Frass). #1. It involves balancing the interest of company's stakeholders, such as - shareholders,management,suppliers,customers etc. Aspire Food Group and the Aketta Brand. Ashour recalled that the Aketta line of products represented the company's attempt to do some rapid prototyping and to test market responses to a variety of product formats. Aspire Food Group: Marketing a Cricket Protein Brand Case - Reference no. Marketing Jobs in Temuco, Araucana Region, Chile, Encargado(A) de Servicios Auxiliares (Temuco), Ejecutivo/a de Ventas Vehculos Nuevos-Temuco, EJECUTIVO ATENCION AL CLIENTE BANCARIO PARA MOLINA, Ejecutivo de Ventas - Temuco - Salazar Israel, Vendedor de Mesn - Temuco - Salazar Israel, Jefe de Sucursal - Temuco - Salazar Israel, EJECUTIVO DE ATENCION AL CLIENTE BANCARIO - CUREPTO, Operario de comida Rpida en Paris Temuco. Send readers directly to specific items or pages with shopping and web links. #3 How is attitude change a key part of the adoption process for this product category? A growing population and increasing demand for food and material requires sustainable, scalable solutions that keep our world healthy.. 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. What are some general approaches for promotions that you can Question: Aspire food group: marketing a cricket protein brand case study 1-You have been hired as a marketing consultant for Aspire to help change attitudes and persuade people to purchase cricket-based foods. were targeted at athletes, and its marketing reflected that positioning (see Exhibit 3). He came up with the California roll. Along the way, they incorporated a company and travelled to Thailand for field research. Arguably our planets tiniest livestock, the cricket is an incredible source of complete protein with all essential amino acids for people and pets. There were over 2,000 varieties of edible insects found on earth.3 Commercialization had focused primarily on crickets, grasshoppers, and mealworms/buffalo worms in North America. Through the AgriInnovate Program, London, Ontario will be investing up to $8.5 million in alternative protein company, Aspire Food Group, to build a cricket protein commercial production facility in the province. 9B20A071 Subject category: Marketing Authors: Miranda Goode; Emily Moscato. The name Aketta was derived from the scientific name for the house cricket, Acheta domesticus, Final report - Aspire Food Group: Marketing Cricket Protein Brand; Daan Go An Entrepreneurial Case Study; Related documents. Pelayo Casanovas has been named to the position of managing director for Hendrix Genetics Layers. What matters to this group is that they know their product includes clean ingredients, it is ethically sourced, and there is a very transparent supply chain. Cricket Protein Farming For Cricket Powder Production. the message? In recognition of these lower risks, neither the United States nor Canada regulated edible insects as meat products -i.e., edible insect products were not THE MARKET FOR INSECT PROTEIN The global insect protein market was forecast to grow about 28 per cent per year and to achieve estimated sales of $213 million by 2023 and $8 billion by 2030.2 The United Nations and other organizations were promoting entomophagy (eating insects) as a sustainable alternative to consuming traditional livestock prote. protection. By the end of their meeting, Ashour and Sewitz had an initial understanding for the acquisition, and by March 2018, Aspire had acquired Exo. SRWE (Version 7.00) Final PT Skills Assessment Exam (PTSA) Answers, Huaweis Organizational Structure - Final Report, FNCE-Time Value of Money The Buy Versus Rent Decision, CCNAv 7 System Test Course (Version 1.1) System Test Exam Answers, Test Bank for Principles of Anatomy and Physiology 15th Edition by Tortora, 23. 2003-2023 Chegg Inc. All rights reserved. And the experience has to be excellent. We were predominantly focused not so much on getting these products to gain traction in the market; we were using them to create awareness in the market and to educate consumers. But the key benefit is 'clean ingredients." Introduction to Marketing 100% (2) English (CA . Ashour was aware that the marketing and growth of Exo would affect Aspire's production capacity. Our frass is an all-natural agricultural product composed of cricket excrements, exoskeletons, and residual plant-based cricket feed that can benefit plants and animals. European Soccer Leagues. case study Aspire was positioned in the emerging food sector as a producer of ethically raised, high-quality crickets, and this made it a compelling prospective buyer. Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01. The brand in order to increase the awareness needs to make the protein source more visible and a lucrative alternate for people wh Most other entrepreneurial food companies were reliant on insect protein suppliers, such as Aspire, Entomo Farms, or numerous overseas operations. In a comparison of insect and beef protein, 30 grams of Aketta crickets would provide 20.0 grams of protein, 43.0 milligrams of calcium, and 2.3 milligrams of iron, while the same amount of beef protein would yield 8.0 grams of protein, 3.6 milligrams of calcium, and 1.0 milligram of iron.4 Insects were also a safer protein source, with a much lower risk of transmitting zoonotic diseases to consumers. Through the AgriInnovate Program, London, Ontario will be investing up to $8.5 million in alternative protein company, Aspire Food Group, to build a cricket protein commercial production facility in the province. Insect protein bars from brands such as Chapu! New Marketing jobs added daily. Authorities are seeking information concerning an incident when a person was robbed while walking into a Tyson Fresh Meats plant in Illinois. would categorize Exos cricket protein bars in your mind. Chap 08 Test bank. Ingredient sourcing had been an issue for smaller brands, creating inconsistency with supply and various quality concerns. Crickets are a remarkable upcycling factory. Crickets provide a healthy balance of protein, fiber, and other nutrients that animals require without causing irritation, inflammation, or allergies. Brasileiro Srie A. #1. Highlight your latest work via email or social media with custom GIFs. 10 May 2021 at 2:11 PM subject to regulation by the United States Department of Agriculture or the Canadian Food Inspection Agency, so they had lighter compliance requirements and did not require additional processing inspections. Aspire Food Group, which is based in Austin, has a prototype indoor cricket farm near . "But what about other potential segments?" Plants & Trees. A major shift in the global market's consumer behavior is increasing interest in alternative protein sources from plant-based to insects. registered in England No 1129396 and entered in the Register of Charities No 267516. This was, essentially, the gateway product that allowed Americans to taste and experience sushi-even if we can all agree that California rolls aren't really sushi in the traditional sense. In North America, products included protein powder (e.g., Crik Nutrition), tortilla chips (e.g., Chirps Chips), snack mixes (e.g., Don Bugito), pasta (e.g., Bugsolutely), snack bites (e.g., Seek), jerky (e.g., Rocky Mountain Micro Ranch), and cookies (e.g., Cowboy Cricket Farms). #3 How is attitude change a key part of the adoption process for this product category? What are the pros and cons of targeting this segment? With retail margins at about 35 per cent, Exo's wholesale revenues per bar were $1.95. performance bars? decision making shortcuts might guide you in making the decision of Explain in detail the value-proposition of Aketta products and how they might be differentiated from other (non-meat based) proteins. You must be logged in to access preview copies. At full capacity, Aspire Food Group's facility is expected to house four . More, Aspire Food Group Marketing A Cricket Protein Brand Case Study Solution & Analysis. Ashour pointed to the popularity of sushi in North America as an example of a foreign delicacy that was adopted over time. In 2012, Ashour conceived . Fashion Photography. You can unsubscribe from these emails at any time. 1 Cision PR Newswire, Global Insect Protein Market Forecast to 2025: Focus on Food & Beverages, Animal Nutrition, Pharmaceuticals & Cosmetics, Research and Markets, accessed, accessed July 8, 2020, www.prnewswire.com/news-releases/global-insect-protein-market- forecast-to-2025-focus-on-food-beverages-animal-nutrition-pharmaceuticals-cosmetics-300897079.html; All currency amounts in US dollars unless specified otherwise. Knowing that the majority of people in North America currently resisted the idea of eating insects, Aspire sought to popularize the name Aketta as an alternative to "crickets" when referring to the protein source. According to the Food and Agriculture Organization of the United Nations, there are over 1,900 insects edible for humans the most common being from species of beetles, butterflies and moths, bees and wasps and more. London, ON., September 16, 2021 - Aspire Food Group, a global leader in insect agriculture, has completed the sale of its EXO brand to Hoppy Planet Foods. them to achieve? Crickets are a remarkable upcycling factory. Aspire is grateful to Agriculture and Agri-Food Canada for its support of our first commercial facility, said Ashour, CEO of Aspire. As the founders devised a comprehensive marketing plan for the newly acquired brand, they needed to identify which consumer segments would be most receptive to Exo protein bars and most profitable. America as an age Group s facility is expected to house four the opportunity introduce! Nutrient-Rich, plant-based diet into a superior biomaterial ( frass ) of protein,,! 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