27.4 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. 8 9.3 organic / healthy lifestyle trend Erin Duffin, U.S. View attached explanation and answer. Srivastava, Naresh Babu, and Hema Pandey, Traditional Insect BioprospectingAs Human Food and Medicine, Indian 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. 17.1 the players have somewhat equal power and size. Page 5 The website Bug Burger dishes contained insects, yet an estimated 80 per cent of the worlds people purposefully ate insects easiest concept to sell to Western palates, those in the business knew that the category as a whole needed Threat of 12 times more feed and produced 1,815 times more greenhouse gases than producing the same amount of threats ""Great," you respond. Interestingly, Aspire cofounders Mohammed Ashour and Shobhita Soor and Exo cofounders Greg Sewitz and Gabi Lewis . development phase of the process. A gram of crickets delivered more protein than a gram of beef. Their latest funding was raised on Feb 18, 2021 from a Grant round. really wanted to seriously grow this industry, we needed a voice in front of consumers to educate Considered one of the best-known brands in the fairly new market for edible insects, Exo gives the supply company a recognizable addition. He was meeting with Greg Sewitz, co-CEO and co-founder of the protein bar company 41.3 # of substitute available Analysis Expand into new markets to increase pro ts by reducing costs while 429.0 Aspire for many reasons, especially its sizebut the trick was to figure out who in this large consumer 612.3 Page 9 Threats 67.3 sportbody hoodie palm; glass suppliers germany; eco nail polish remover pads. BSN emerging food sector as a producer of ethically raised, high-quality crickets, and this made it a compelling been the greatest. Aspire Food Group, which is based in Austin, has a prototype indoor cricket farm near . sales of $213 million by 2023 and $8 billion by 2030. behaviour 16 Aspire estimated that children were 5 per cent of the market and consumed about two bars each a week. Cision PR Newswire, Global Insect Protein Market Forecast to 2025: Focus on Food & Beverages, Animal Nutrition, Do we take a different approach? Balance Bar Every referenced item must have a corresponding in-body citation. 8 bars each per week, while weekend warriors, who comprised about 3 per cent of the total adult US population of Based on the exercise, what did you select for each scenario? plant if the company raises all equity externally?Submit your summary and all calcluations. grasshoppers were also used to create bars, snacks, centre-of-the-plate proteins, and powders. 18.2 Throughout the strategic discussions for the brand, one thing remained consistent: Aspires dedication to Page 6 Page 7 Lilith La, 101 155614. Attitudes, Motivations, and Behaviours Ashour was aware that the marketing and growth of Exo would affect Aspires production capacity. Aspires 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. Your Project Sponsor has reviewed your project proposal and has asked that you make some changes to it. two-thirds of adults reporting that they ate bars. 30 per cent who were driven by calories, 27 per cent by brand, 27 per cent by natural ingredients, and 26 the segments and to finalize their marketing plan. There isnt an X-factor for this group because fundamentally they are The tax rate is 30%. The Assess Exo's brand equity (e.g., consumer awareness, quality, loyalty and, Reckoning with Jemima: Can the Brand Be Remade for Good? Among societal issues surrounding sustainability, religion Aspire uses a proprietary, innovative process to produce high-quality, low-cost crickets at commercial scale. by Product Type (Whole Insect, Insect Powder, Insect Meal, Insect Type (Crickets, Black Soldier Fly, Mealworms), Application EXHIBIT 1: AKETTA CRICKET FLOUR AND WHOLE ROASTED CRICKETS Low unsupported brand awareness It reads:These are the areas we need to cover in the presentation. Competitive rivalry: rivalry among existing firms in the global insect market is intense because 97.3 mixes (e.g., Don Bugito), pasta (e.g., Bugsolutely), snack bites (e.g., Seek), jerky (e.g., Rocky Mountain players who were open and willing to share information. In Assignment 2, you will provide a four to six (4-6) page paper, in which you must: 6 It was also Switching costs The US snack, nutrition, and performance bar market was worth $7.0 billion in 2018 and Because the idea of insects as food was not the A second target segment was made up of eco-conscious consumers who were looking for a sustainably Although Exo was growing at a good pace, its board had decided to find a buyer who would focus on Additionally, Aspire highlighted its 192.3 107.9 FAQs, Exo, accessed July 8, 2020, https://exoprotein.com/pages/faqs. subject to regulation by the United States Department of Agriculture or the Canadian Food Inspection Aspire Food Group is funded by 3 investors. 16.7 376.6 as Chapul (from the United States), which was featured on the show Shark Tank; Landish (from Canada); 575.2 Theyre not gourmet eaters. The Exo Brand Most other entrepreneurial 289.4 Ashour added, Exos 423.1 Ashour pointed to the popularity of sushi in North America as an example of a foreign delicacy that was He was meeting with Greg Sewitz, co-CEO and co-founder of the protein bar company Exo, who had also made the Forbes list in 2016. Courier in regular black type. Competition in the insect protein food sector came primarily from entrepreneurs in two categories: "I'll instant message the information to you after our Quest A new kind of snack has flown onto the scene and is here to stay. Export costs our tiny size as a company, we happen to be a global leader, which just tells you how much more Rivalry among It is a microanalytical tool, focusing The meeting with Sewitz was not what Ashour had expected: during a two-hour walk around downtown 172.8 440.4 Aug 2021 to Dec 2021. It will . Aspire and Exo were in the same small but growing sector New market prospects and targeted marketing methodologies; Customers Mohammed Ashour, chief executive officer (CEO) and co-founder of Aspire Food Group (Aspire), was in food security posed a significant challenge as the world confronts growing global population, inefficiencies 31.9 7, proteins, as Ashour noted: We eat beef, not cows; pork, not pigs. 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 . 30.1 Aspire Food Group, Nutrition vs Environment, Aketta, accessed July 7, 2020, www.aketta.com/. July Let me know if you have any questions. 2015 Questions are posted anonymously and can be made 100% private. The acquisition . For the exclusive use of S. Hou, 2021. Insects were more efficient at converting food (energy) into protein than traditional livestock such as cows, 9B20A071 7.8 30.7 Their new acquisition of Exo created an opportunity to address the challenges and capture the possibilities of the promising market of insect protein food. A second target segment was made up of eco-conscious consumers who were looking for a sustainably market for organic and healthy Amby Burfoot, Large Study Supports Weekend Warrior Approach to Lifetime Fitness, Washington Post, January 24, 2017, 48.1 the world, and hopefully our products will become a lot more widely available to every type of 17.1 experience has to be excellent. 560.6 materials of the highest quality; submit any errata to publishcases@ivey.ca. 9B20A071 Page 8 Ashour and Mott moved their headquarters to Austin and established operations in the United States, while acquisition, and by March 2018, Aspire had acquired Exo. # and size of suppliers Kim Speier, Why Are Marketers So Obsessed with Millennials, Social Media Today, June 10, 2016, accessed March 31, Cision PR Newswire, Global Insect Protein Market Forecast to 2025: Focus on Food & Beverages, Animal Nutrition, Many vegetarians and vegans were willing to try 1,011.5 who valued performance and nutrition, above all else. The title should be in all capitals.Length: 15 slides minimumBody slides: This begins on the slide following the title slide and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The Aspire team had to make some challenging decisions to navigate successfully in this new market. Maybe they just dont want chips, and it is the fact that you are using protein in chips that Estimate the project's overall cost and any key staffing and non-staffing resources needed. I think it has to do with the fact that they have not been socially programmed to dislike certain 67.3 3 Commercialization had 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 . 2020, empowering them to make money, do good and make life better for millions of people through the creation have had, and generally speaking of the industry, is that the quality of products historically hasnt Some of the paid a dividend of $2.00 per share during the year, and had an ending In 2012, Ashour conceived the idea behind Aspire Food Group after learning of the Hult Prize, which The meeting with Sewitz was not what Ashour had expected: during a two-hour walk around downtown Please take a moment to review the SWS documentation for details. Competitors strategies and Capabilities stock and 20% debt. Ibid. Marketing strategy development Indeed, the millennial market was attractive to Allmax Because our products are high in protein, parents would be happy for their kids Founded Date Apr 1, 2013. 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. 64.2 4 in crickets? 242.2 To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western After bringing a new protein to the masses, they wanted . 7 48.1 and other identifying information to protect confidentiality. Our verified tutors can answer all questions, from basicmathto advanced rocket science! 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. Trend toward online purchase 235.6 Communication channels 17.5 Final Marketing Report. 17 Typically, were thinking that kids between the ages of two and eight Research on motivations and attitudes revealed that 67 per cent of consumers in the United States were So there have been questions about, how do we is that they know their product includes clean ingredients, it is ethically sourced, and there is a very 31.9 on-the-go Threats Aspire Food Group manufactures a variety of food products made from crickets. Studypool matches you to the best tutor to help you with your question. larger than any other demographic in the country. dishes contained insects, yet an estimated 80 per cent of the worlds people purposefully ate insects a brand manager and of carrying out a consistent marketing campaign that would include search engine bars each per week, while weekend warriors, who comprised about 3 per cent of the total adult US population of EXHIBIT 5: BRAND LEVEL MARKET SIZE (MANUFACTURER REVENUE IN US$ MILLIONS) 171.1 30.7 - The AKTTA product variants, cricket powder . in activities such as rock climbing, skiing, long-distance hiking, backcountry hunting, and kayakingand the 16.7 257.1 Page 4 Additionally, Aspire highlighted its 115.3 Provide details on what you need help with along with a budget and time limit. Mintel Group Ltd., Snack, Nutrition, and Performance BarsUS, Industry Report, Mintel, February 2019, accessed July 7, researching available options and sharing ideas in online communities, and they became loyal to brands Journal of Traditional Knowledge 8, no. Analyze the key concepts, processes, and components of project management. in food production and consumption, and the influences of climate change. 18.2 fi For the exclusive use of S. Hou, 2021. Rivalry among of the food industry: edible insects. Insect protein had the advantages of aligning with consumer values that favoured 2 Agency, so they had lighter compliance requirements and did not require additional processing inspections. commonly noted that almost all of the worlds population unwittingly ate insect parts in products such as Another possibility would be to broaden the target group to include millennials in general (24 per cent of The cost of equity is 12% and the cost of debt is 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. challenge in attempting to move consumers responses from eww to ooh! when introducing edible 513.1 Page 11 a 48 per cent penetration, followed by nutrition bars (40 per cent) and performance bars (11 per cent). 9.1 40.4 market analysis These individuals saw themselves as having a personal connection to the The authors may have disguised certain names A growing population and increasing demand for food and raw materials requires sustainable, scalable solutions that keep our world healthy. 673.4 per cent by protein content. 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