Your project entails an analysis of a consumer products of the company beyond meat, is an american vegan, plant-based meat substitutes, its target market, and the decision process used by its customers.
PLEASE NO PLAGIARISM
Recommendations for the organisation
It is important to make recommendations here that result from your investigation above. Cover each of the sub-sections suggested. If no changes are suggested on any of the following areas, explain why the firm’s current strategy will probably be “on target” in the foreseeable future.
- Target market and/or positioning changes
- Product decisions
- Pricing decisions
- Distribution decisions
- Promotion decisions Other concepts in associative network, how to grab consumer’s attention, opinion formation and helping consumers remember may be useful here.
Beyond Meat is an American-based vegan, plant-based meat substitute company. The Los Angeles-based firm, established by Ethan Brown in 2009, produces and markets plant-based meat substitutes appealing to consumers who, for some reason, avoid meat or animal products.
Target Market and Positioning Changes
Product positioning is necessary for a business to create a positive perception of the brand by customers. The knowledge of the target customer determines positioning strategies (Camilleri 69). The target consumers for Beyond Meat are vegan meat lovers who would like to meet their need to consume meat or related products but, for some reason, avoid animal products. The company positioned itself to market the products to meat-loving consumers. Hence, customers can easily substitute their meat products in the local restaurant or grocery store.
Beyond Meat intends to reach consumers who, for some reason, do not consume animal products. To achieve the objective and still meet the objective or make meat-like products serve customers’ needs, the company decided to produce and sell products that emulate beef, ground meat, meatballs, and pork sausage links patties.
Based on its positioning decision to make the product readily available to meat-loving customers seeking to substitute animal meat, the company uses a low price strategy. A recent study established that Beyond Burger retails at $12 a pound in Whole Foods. Other products use a similar competitive pricing strategy, $5.99 for two 4-ounce patties, while other vegetable burgers retail at $6.40 a pound (Root 2019). The company intends to make its prices highly competitive and its products affordable.
The company’s management uses a strategic positioning method to ensure that its products are readily available to customers. Ethan desires that its products are placed in the meat sections of grocery stores. The company distributes its products through grocery stores, convenience stores, and restaurants. Various grocery stores, such as Amazon-owned Whole Foods and Natural Grocers, distributes the Beyond Meat products (Balu and Bellon 2019). The company intends to increase distribution channels in the future.
Beyond meat uses various channels for marketing its products, including conventional media (such as billboards, print, and electronic) and the new media. However, the strategy promotes used focused on plant-based meat as a category instead of a brand. The promotion strategy has allowed competitors to market their brands to rival the Beyond Meat
While Beyond Meat’s current strategy effectively achieves its business needs, the management can implement some changes to improve its competitiveness and productivity. One of the necessary changes is to market the products as a brand that substitutes traditional meat. They should recognize that the products are not meat, but substitutes. Marketing them as such should inform the customer what to look for. Instead of selling at meat segment in grocery stores, they should acknowledge the role of the products as substitutes and distribute them accordingly. The company should also improve its marketing for the products using the new media to inform customers about environmentally sustainable alternatives to animal products.
Beyond Meat has an opportunity to succeed in the meat substitute market, increasing the number of consumers seeking substitutes. Vegans need to get information and access the product conveniently to buy. Ethan’s model and strategy are timely, but they need to improve positioning and promotion to counter the growing competition in the emerging sector.
Balu, Nivedita and Tina Bellon. Beyond Meat sees sales more than doubling in 2019, shares jump 21%, 2019. Accessed May 6, 2021 from https://www.reuters.com/article/us-beyond-meat-results-idUSKCN1T72Q7
Camilleri, Mark Anthony. “Market segmentation, targeting and positioning.” Travel marketing, tourism economics and the airline product. Springer, Cham, 2018. 69-83.
Garcia, Tonya. Beyond Meat at risk as competitors like Impossible Burger take root, 2019. Accessed May 6, 2021 from https://www.marketwatch.com/story/beyond-meat-at-risk-as-competitors-like-impossible-burger-take-root-2019-06-12.