What Beyond Meat Can Teach Big Food
Updated May 6, 2019
Beyond Meat is a food manufacturer that produces vegetable based products that are similar to meat. Although it's shares are quite expensive to individuals and competition from traditional meat products, the strategy that they are using to attract customers seems very wise. However, a unlikely twist is that Beyond Meat is marketing to not only vegetarians and vegans but also meat eaters, as many meat customers are lowering their daily intake. The reason this seems a good strategy is because the vegetarian market is only 5% of the population however many meat consumers also buy non-meat products. These include dairy and animal product alternatives such as almond milk or veggie nuggets. Studies were conducted in grocery stores to prove this point. This article involves relevant marketing topics such as price, place, and external environment. As an individual who loves to try new foods and experiment with meat replacement products, this article really interested me.
https://www.wsj.com/articles/what-beyond-meat-can-teach-big-food-11557140580
I agree that this is a very interesting topic. More people categorize themselves as flexitarians now, so it makes sense that these types of companies are not only targeting vegans and vegetarians. Although, I think great strides have been made in this market, fake meat producers still have a long way to go. When I worked at Sysco we did a food tasting for various plant-based meat products and they all tasted pretty badly. I'm eager to see how their taste will improve in the next 3-5 years.
ReplyDelete-Destiny Pitts