Meat substitutes, Meat industry and trade -- New products -- Marketing, Marketing -- Planning, Technological innovations -- Management
Projections show that by 2050 there will be nine to ten billion humans walking the earth . As the human population grows, if the consumption rate of meat, milk and eggs continues at anywhere near the quantity today, we will need to get more efficient - much more efficient. Today a group of scientists and entrepreneurs at Memphis Meats is trying to accomplish just that. Our goal is to grow real meat so that omnivores can continue enjoying beef, chicken, fish, and pork without having to raise and slaughter animals. This reduces the impact of agricultural farming on our planet. Our goal is to bring to consumers food that they love and can feel good about.
The main aims of Memphis Meats is making food healthier, more humane, and more eco-friendly. We aim to produce meat that requires significantly fewer greenhouse gas emissions, less water, less land and less energy . With this in mind our primary focus is to launch our products into the market by 4th of July. Our job is to make sure we’re getting the facts out there about our products and providing people with as much information as possible.
The objective of the plan is to achieve sales volume of $20 million in the first 2 years and 20% YOY increase for the next 3 years. We should be the first choice among current meat-eaters which means about 60 to 70% of the market share by Memphis Meats in the cultured meat space. This plan details how this can be achieved by investing in product and brand management and the right pricing, communication & distribution strategies, with optimal marketing budget.
Note: The Research Log is included below as a supplemntal file.
Zhang, Dawei; Yamamoto, Matt; Talari, Saisanjay; and Khorasanizadeh, Shahram, "Marketing Plan for Memphis Meats - Cultured Meat" (2019). Engineering and Technology Management Student Projects. 2269.