Question 2 - Essay (Topic: Marketing Environment)

Scenario:

Many retailers and food companies are becoming increasingly aware of the demand for vegan products, and an increasing variety of vegan food product being offered in the markets around the world. It is evident that consumption of vegan food is on the rise, and the future is set to be significantly more plant-based. Alongside thegrowth of veganismand subsequent product demand, the price of meat and dairy products in New Zealand are soaring at an all-time high while their sales have been dropping consistently across a few years.

In the past decade alone, sales of plant-based alternatives haverisen by 20%, as consumers are choosing proteins likeveggie patties, falafels, and tofu over bacon, hamburgers, and steak. Choosing plant-based is becoming more convenient by the day, especially with NZ based start-ups such as 'Sunfed Meats'and ascoopable, waste-free vegetable pick n' mixat the supermarket New World.

This change in consumption trend is not lost upon investors who are keen to invest their funds into future proof business opportunities. One such brand, 'Beyond Meat' (the plant-based meat company) based out of Los Angeles, went public in May of 2019, and on its first day of trading, its shares soared 163 percent. It is expected to be the number one plant-based stock within this plant-based industry for the financial year 2021.

Essay Question Based on Scenario:

It is becoming glaringly evident that the market (consumers) always keeps shifting its patterns of consumption. From an organisation's perspective, it becomes even more crucial that they need to make an adjustment to their overall marketing strategy to respond to this consistent change. Assume that you are the marketing manager for Tegel Foods (a New Zealand based chicken producer); how would you react to these changes? What role, if any, the process of strategic planning play for your organisation in its recent future?

Then using the SWOT analysis tool, explain if you perceive these behavioural changes as an opportunity or a threat to other industries that rely on farm produce (e.g. beef, lamb, dairy products, and others)? Take a stance by either outlining this as an opportunity or a threat and justify why you would consider these (consumer) behavioural changes to be an opportunity or threat. Use examples to support your stance.

(four hundred to six hundred and fifty words) USING PEEL STRATGEY ESSAY FORMAT