Tag Archives: Market segmentation

Where’s the Meat?

In case you haven’t noticed, there are a growing number of meatless ‘meat’ products now available at both grocery stores and restaurants. In the past few months alone, several fast food chains launched chicken-free chicken and meatless burgers to their offerings, and all seem to delight customers who are looking for plant-based alternatives to meat.

In one instance, KFC supplied an Atlanta franchise with faux-meat chicken from Beyond Meat called the ‘Beyond Fried Chicken’. Customers arrived before the doors even opened and the restaurant sold out of its supplies in just five hours! Of course, social media was responsible for the rush to test, but nonetheless, selling out what was supposed to be a several day experiment in less than a day says a great deal about the changing consumer tastes.

Burger King is already established in the meat-free burger category and has been selling the ‘Impossible Burger’, using the plant-based patties from Impossible Meats. White Castle is also in the mix with its ‘Impossible Slider’ (also from Impossible Meats), also sold nationwide.

And last, but not least, McDonald’s has jumped into the meatless game with its ‘PLT’ burger from Beyond Meat – plant, lettuce, and tomato. While today the PLT is only available in Ontario, Canada, it seems likely to make the move to a national distribution as well.

What’s going on? What are these new ‘meats’? The term ‘meatless meats’ is a contentious point, but the products are made by combining plant-based fats, binders, fruit and vegetable-based colors and flavor to create a fibrous texture of meat (no animal components). While these types of products have existed for a number of years, they were commonly marketed only to vegetarians and vegans. Today’s new plant-based meats are aimed directly at meat-eaters, particularly consumers who are concerned about climate change and eliminating animal products from their diets. However, plant-based meats are not typically as healthy as eating unprocessed vegetables and beans and meat consumption is still increasing worldwide. The burgers are often high in calories and fats.

Are you hungry?

Group Activities and Discussion Questions:

  1. Review meatless meat products and meals as needed:
    1. McDonald’s PLT burger: https://youtu.be/StVR1njx2ow
    2. KFC meatless chicken: https://youtu.be/U-imMy7Ohik
    3. Burger King Impossible Whopper: https://youtu.be/N9FED3jkNTo
    4. Impossible Whopper: https://www.bk.com/menu-item/impossible-whopper
    5. The Better Meat Co: https://www.bettermeat.co/
    6. Beyond Meat: https://www.beyondmeat.com/
    7. Impossible Foods: https://impossiblefoods.com/
    8. Carl’s Jr Burger calorie: https://www.carlsjr.com/menu/nutritional_calculator/beyond-famous-star-with-cheese
  2. Discuss the five factors of an environmental scan: Social trends, technology trends, competition, economic trends, and legal/regulatory factors.
  3. Divide students into teams. Have each team use their laptops or mobile devices to discover at least two points in each of the five categories of an environmental scan.
  4. Debrief the exercise by compiling information on the white board.
  5. Do these factors show why companies are embracing the new foods?
  6. Extra video: If students are interested, a scholarly video about climate change and food can be found at: https://youtu.be/8miQs3mPGu8

Sources: New York Times, Wall Street Journal, Advertising Age, Associated Press, and other news sources

 

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Rent Furniture instead of Buying

Most college students likely have furniture that includes hand-me-downs from family and friends, or purchases from garage sales and Craig’s List. The sofa in their living room was probably once used by Aunt Helen in Kentucky, transported by Cousin Patrick to New York, sold to his friend Alan who moved to New Jersey, and who knows who else as it made its way around the country! And that is fine for young millennials who are just starting out. But eventually, their longing turns to new furniture that they view regularly on social media platforms such as Instagram and Pinterest.

But it’s hard to swallow that high-priced new furniture. New furniture buyers are likely shocked by the price for that brand-new West Elm sofa. How can they afford that thousand-dollar sofa when they have to pay student loans, car payments, rent, and everything else?

Enter: Services that let you rent furniture through a monthly membership, giving you the option to swap out furniture when tastes and trends change. For example, a popular West Elm sofa may cost $899 in stores, but it can be rented from Feather at $52/month (12-month subscription), and then swapped out, renewed, or returned. Individual pieces as well as full-rooms can be rented in certain cities. It’s a new way to live more upscale without having to pay out the entire fee at once.

Shall we redecorate?

Group Activities and Discussion Questions:

  1. Poll students. Where is their furniture from? Family, friends, neighbors, Craigs List?
  2. What would be their interest level to rent new furniture once they graduate and begin working? How much would they be willing to pay?
  3. Show furniture rental sites:

West Elm: https://www.renttherunway.com/westelm

Casa One: https://www.casaone.com/

Fernish: https://fernish.co/

Feather: https://www.livefeather.com/

  1. Divide students into teams. Have each team examine the information for a different furniture rental company.
  2. Discuss the importance of clearly defining a target market.
  3. Divide students into teams and have each team develop a profile of a target market. Include demographics, psychographics, behaviors, values, attitudes, etc.
  4. Based on the target market profile, what makes this service unique for these customers?
  5. Debrief the exercise.

Source: Carefoot, H. (25 April 2019). Can’t afford that West Elm sofa? Rent it instead. Washington Post.

 

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Hi-Tech Fitness

Hate working out? It can be such a hassle – there is travel time, using equipment with other sweaty people, showering in messy locker rooms, and not getting enough personal training attention to make a difference. But still, fitness and health are important. What can be done differently to make workouts more enjoyable and fulfilling? Where’s the technology?

Enter Tonal: a San Francisco-based start-up company that aims to revolutionize how people workout by using high-tech to reinvent the workout system. The innovative product and service combines unique hardware, software, and an interactive LED screen to create a workout experience that doesn’t rely on old-school barbells and plates. Tonal can even sense when a workout is too easy, and add more weights for the next set to set the right level of difficulty.

Tonal is high-tech and effective, but not cheap. The machine itself is $2,995, plus custom smart accessories at $495, and a monthly subscription of $49 per month for 12-months minimum. The Tonal system mounts to a wall (similar to flat-screen TV). For the optimal experience, the system only needs access to a 7-foot by 7-foot space. Tonal measures reps, sets, range of motion, time under tension, power, and volume. The monthly subscription provides expert coaching via video with step-by-step instructions.

No pain, no gain.

Group Activities and Discussion Questions:

  1. Poll students:Where do they work out? How much do they spend on gym memberships? On equipment?
  2. View Tonal’s Web site: https://www.tonal.com/
  3. Discuss the importance of clearly defining a target market.
  4. For Tonal, what is the target market?
  5. Divide students into teams and have each team develop a profile of a target market for Tonal. Include demographics, psychographics, behaviors, values, attitudes, etc.
  6. Based on the target market profile, what makes this product unique for these customers?
  7. Debrief the exercise.

Source:  New York Times

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