Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

BRAND 1: Green Butchery According to Meticulous Research (2020), the global market for plant-based food market (or called plant-based protein, including plant-based meat, seafood, milk,

BRAND 1: Green Butchery

According to Meticulous Research (2020), the global market for plant-based food market (or called plant-based protein, including plant-based meat, seafood, milk, egg, and dairy) is expected to be worth US$74.2 billion by 2027 with a compounded annual growth rate of 11.9% from 2020. Bloomberg Intelligence (2021) also estimates that global retail sales of plant-based food may reach US$162 billion by 2030. Investments into this segment have also surged with the likes of Temasek investing millions into companies like Next Gen Meat, Float Foods, and Growthwell.

With the growing trends of healthier and sustainable living, Green Butchery (https://greenbutchery.com/) was founded on a vision to make healthier and sustainable eating a tasty lifestyle choice. Green Butchery aspires to be the marketplace and community platform to go for healthy sustainable products and experiences. This is achieved through constantly introducing new plant-based food concepts to consumers and building a community of like

minded people.

However, Green Butchery faces two challenges. First, the plant-based food market in Singapore is still in an earlier introductory stage. It requires a lot of effort to educate potential consumers about plant-based food (its production, taste, price, nutrition, health benefits, etc.) and convert those who are more receptive to this new product into actual customers. Furthermore, several retail channels also see the opportunities in plant-based food, like NTUC Fair Price, Cold Storage, RedMart,Everyday Vegan Grocer, Sasha's Fine Foods, little farms, NineLife, Green Common, EatRoamLive, and so on.

BRAND 2:TO Mein

Part of the Han's Group (https://hans.com.sg/), TO Mein (https://atomein.com/) was found in 2019 aiming to provide consumers with bowls of ramen that are delicious yet affordable. Reckoning that ramen is a function of professional techniques,TOimplements a highly precise, systematic process to make their noodles and soup bases, ensuring every bowl is consistent and crafted to perfection. A firm believer in theARTof ramen, the brand even

names itself using the Japanese word "" (meaning "art" in English).

However, the competition is stiff in Singapore. As a less known player in the market, TO is struggling to break through the clutter of existing ramen restaurants in Singapore.

Question 1:

Both Green Butchery andTO are relatively new to the market. The potential consumers are likely to lack an attitude toward them and their products.

Applyingthree (3)different attitude models or theories, recommend strategies that your chosen brand can adopt to facilitate consumers' formation of positive attitudes towards it and/or its products.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International marketing

Authors: Philip R. Cateora, Mary C. Gilly, John L. Graham

15th Edition

9789339204464, 9780073529943, 9339204468, 007352994X, 978-0077446956

More Books

Students also viewed these Marketing questions