Team 2 - Krave (Block 1)
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The document discusses market trends in the snack and meat industries, noting Americans' love of meat and snacks. It identifies an opportunity for innovation in meat snacks, as the category currently has limited innovation and a "gut stuffer" image. The competition is dominated by four large brands with 85% market share that focus on manufacturing over marketing. The document outlines KRAVE's advantages in flavors, ingredients, quality and focus but also challenges in scaling operations, distribution, changing category perceptions and longevity. Revenue estimates will come from industry reports, in-store demos and surveys of existing direct customers.
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The document provides an overview of menu development strategies and food trends from a culinary perspective. It discusses conducting consumer insights, rising ingredient costs, and strategies for capturing customer interest through menu engineering and concepting. Key food trends highlighted include health and wellness, customization, small plates, bold flavors, locally-sourced ingredients, and fruit-forward dishes. The document also summarizes research on what drives food pleasure and strategies for making menu items more irresistible through balanced flavors, textures, and the use of umami-rich ingredients.
Pet food market
This document provides a market analysis report for the pet food market from 2020-2027. It includes the following key details:
- The global pet food market size was valued at $89.25 billion in 2019 and is expected to reach $128.60 billion by 2027, growing at a CAGR of 4.7%.
- The market is driven by factors like increasing pet ownership, awareness of pet health and nutrition, and humanization of pets. Manufacturers are innovating and personalizing products to meet different animal needs.
- The report segments the market by product, application, source, region, and sales channel. It also provides an overview of the competitive landscape and key strategic developments by
Krispy Natural
1) Krispy Natural, a cracker brand owned by Pemberton Products, conducted market tests of a new formulation and positioning as a premium product.
2) Results were very positive in Columbus, OH where the brand was new, achieving an 18% market share. However, results were poorer in existing Southeast markets.
3) Brandon Fredrick, the marketing director, faces issues in interpreting the mixed results and risks of a national rollout, managing realistic expectations given competition from giants like Frito Lay, and determining the right pricing strategy to maintain a premium image.
Lay's NPP Corrected FINAL PRINT
This document provides an analysis of potential new product opportunities for Lay's brand of potato chips. It examines the concept of Veggie Chips, proposing a line of baked organic chips made from vegetables. Consumer research is presented, finding moderate purchase interest but unfavorable associations with healthiness. The recommendation is to conduct more research to improve positioning. Potato Skins are also analyzed, proposed as a frozen stuffed potato product. Again, consumer research finds moderate interest levels. Metrics like potential sales and market fit are presented for both concepts. The document evaluates the opportunities and recommends further developing the positioning of Veggie Chips before launch.
Krispy natural
Pemberton Snack Foods launched a new cracker product called Krispy Natural to crack into the snack market. The original Krispy Single Serve product failed due to limited flavors and poor taste. Krispy Natural was redeveloped with improved taste, multiple package sizes, and a focus on being 100% natural and healthy. It utilized Pemberton's direct store delivery system and promotional advertising. In test markets, Krispy Natural gained 18% market share in Columbus and a slight increase to 10% in the Southeast, outperforming competitors. The company plans a national rollout.
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Team 2 - Krave (Block 1)
- 2. Healthy, More Flavorful, Higher Quality
- 3. Snacks Being Driven By Innovation/News
- 4. Meat Snacks/Jerky Conventional - Moribund
- 5. Limited Innovation/”Gut Stuffer Image”Source: US Package Facts TAM:US Snack Food Industry=$69B SAM: Meat Segment in Food Industry=$4B Target Market: Supermarkets (10,000 stores)=$18m
- 6. COMPETITION Traditional – Conventional: Large Meat Packers Top 4 Brands = 85% Market Share Manufacturing vs. Marketing Orientation Jerky As A Waste Reducer – Mfg“Capacity Utilizer” Same Flavors, Form Factors, Pricing, Quality, Limited Innovation KRAVE AdvantagesKRAVE Challenges + Flavors/Natural Ingredients/Low Sodium- Scale/Resources + Meat Cuts/Quality- Distribution Power + Traceability- Longevity/Heritage + Singular Focus/Small Guy Flexibility - Fighting Category “Gut Stuffer” Image
- 8. TESTS Revenue Estimates Industry reports (US Package Facts), existing sales Customer access/survey through in-store demos Survey for existing direct customers (1000’s)