Cover sheet for submission of

work for assessment

SCHOOL: SIM RMIT

Office use only

Program name Program code

Marketing Principles MKTG1199

Course/unit name Course/unit code

TAFE National Module Unit TAFE National Module

of Competency (UOC) Unit of Competency School date stamp
name (UOC) ID

Assignment no. 2 Due date 04/10/19 Name of lecturer/teacher Ong Chin Choo

Campus SIM Class day/time Thursday / 1530 Tutor/marker’s name

STUDENT/S
Family name Given name Student number

(1) Ang Xin Yi S3808716

(2) Mok Rong Zhen S3810329

(3) Tan Qiuyun S3809591

(4) Tan Shun Yong S3809592

(5) Tan Yi Heng S3772807

DECLARATION AND STATEMENT OF AUTHORSHIP

1. I/we hold a copy of this work which can be produced if the original is lost/damaged.
2. This work is my/our original work and no part of it has been copied from any other student’s work or from any other source except where due
acknowledgement is made.
3. No part of this work has been written for me/us by any other person except where such collaboration has been authorised by the lecturer/teacher
concerned.
4. I/we have not previously submitted this work for this or any other course/unit.
5. I/we give permission for this work to be reproduced, communicated, compared and archived for the purpose of detecting plagiarism.
6. I/we give permission for a copy of my/our marked work to be retained by the school for review and comparison, including review by external
examiners.
I/we understand that:
7. Plagiarism is the presentation of the work, idea or creation of another person as though it is my/our own. It is a form of cheating and is a very serious
academic offence that may lead to exclusion from the University. Plagiarised material can be drawn from, and presented in, written, graphic and
visual form, including electronic data and oral presentations. Plagiarism occurs when the origin of the material used is not appropriately cited.
8. Plagiarism includes the act of assisting or allowing another person to plagiarise or to copy my/our work.

Student signature/s
I/we declare that I/we have read and understood the declaration and statement of authorship.

(1) (2)
(4)
(3) QY
(5)

Further information relating to the penalties for plagiarism, which range from a notation on your student file to expulsion from the University, is
contained in Regulation 6.1.1 Student Discipline and the Plagiarism Policy which are available on the Policies and Procedures website at
www.rmit.edu.au/policies.
Copies of this form can be downloaded from the student forms web page at www.rmit.edu.au/students/forms.

WORD COUNT: 3,936

Cover sheet for submission of work for 1111 page 1
Executive Summary

Beyond Meat (BM) is currently one of the leading meat substitute companies in the
world, with an impressive sales generation of $87.9 million in year 2018. Made from
mainly pea protein, BM products are soy-free as compared to other meat substitutes in
the market.

Over the next few months, BM aims to launch its products in supermarkets and retail
outlets in Singapore. Despite facing well-established companies such as Impossible
Meat and Quorn, the firm is striving in the monopolistically competitive market amongst
other meat substitute companies. Reuters (2019) has stated how BM has performed
exceedingly well in its product variety and also achieved an impressive overall market
growth with shares doubling in 2019. This is mainly attributed to the Lifestyles of Health
and Sustainability (LOHAS) sector and targeted at this female group of consumers aged
25 to 45.

BM’s main competitor, Impossible Meat, has been actively engaging Singapore by
spreading awareness through various channels such as retail, restaurants and cafes.
However, the ingredient content used for BM products will appeal more to soy-intolerant
and anti-GMO customers.

Therefore, BM can thrive in Singapore through the implementation of various market

strategies that attracts conscious LOHAS customers and deter competition with its
competitors and increase their market share of meat substitutes in Singapore.
Table of Contents
1. Situation Analysis........................................................................................................4
1.1 Company’s Mission..................................................................................................4
1.2 Company’s Objective...............................................................................................4
2. Market Overview..........................................................................................................5
2.1 Market Size and Potential........................................................................................5
2.2 Market Growth/Structure..........................................................................................5
2.3 Micro & Macro Environment Factors........................................................................6
3. Marketing Objectives...................................................................................................8
4. Buyer Behavior............................................................................................................9
5. Target Market.............................................................................................................11
5.1 Market Segmentation.............................................................................................11
5.2 Market Targeting and Profiling...............................................................................12
6. Competitor Analysis..................................................................................................13
6.1 Competitor Analysis (Market Segmentation).........................................................13
6.2 Competitor Analysis (Market Positioning)..............................................................16
7. Product (Marketing Mix)............................................................................................18
7.1 SWOT Analysis......................................................................................................18
7.3 3 Levels of Products...............................................................................................19
7.4 Product Classification & Range..............................................................................19
8. Price (Marketing Mix).................................................................................................20
8.2 Pricing Strategies...................................................................................................21
8.3 Price Adjustment Strategies...................................................................................21
9. Place (Marketing Mix)................................................................................................22
9.1 SWOT Analysis......................................................................................................22
9.2 Marketing Channels...............................................................................................23
10. Promotion (Marketing Mix).....................................................................................24
10.1 SWOT Analysis....................................................................................................24
10.2 Promotion Mix Strategies.....................................................................................25
11. Conclusion...............................................................................................................26
1. Situation Analysis
1.1 Company’s Mission
BM’s mission is to deliver an unforgettable consumer experience by creating nutritious
plant-based meat that tastes as delicious as animal-based meats. In line with planet
sustainability, the company strives to uphold honesty, corporate social responsibility,
and eco-friendliness by manufacturing their plant-based foods from simple plant-based
ingredients.

1.2 Company’s Objective

The company aims to create a savory solution that solves major health and global
environmental issues that stems from an animal-based protein diet and existing meat
industry practices. Transiting from animal to plant-based meats reduces the amount of
resources used and provides a more efficient and sustainable process.

To quickly and widely propagate the idea of a healthier planet being built on a collective
individualistic lifestyle in the subsequent 12 months, relevant content will be created
with the company’s network of celebrities, influencers and brand ambassadors by
harnessing the power of social media. Since these influential figures have supported
BM’s mission and products, the company’s brand awareness has been continuously
fortified thanks to their extensive number of followers. To develop and sustain consumer
interest, the field marketing efforts will be expanded through product sampling in brick-
and-mortar stores and during events such as world meat free week [ CITATION Wor19 \l
1033 ] held annually to provide insights into customer preference in terms of texture,
succulence, and flavor. Based on the results attained, the formulas for current product
portfolios will be enhanced and new products will be added to expand and strengthen
BM’s product offering.
2. Market Overview
Categorized under the meat substitute market, BM provides an alternative food source
to substitute consumers’ dietary needs of real meat. These consumers are grouped
under the LOHAS segment, where each individual enhances the value of their lifestyle
by consuming local goods to help the environment (Chou et al., 2012).

2.1 Market Size and Potential

In Figure 1, the market size in Singapore is proportionally large with most Singaporeans
aged between 20 to 64. Since the number of males (959) is slightly less than that of
females (1,000), the working female market is deduced as a possible prospect for the
business to expand into.

In terms of market potential, Green Future Solutions (2011) has stated 15% of
consumers in Singapore belongs to LOHAS segment, a clear indication of a growing
market. Since LOHAS consumers appreciate green living and consumption of healthier
foods, friends and families are strongly influenced to adopt such a lifestyle (Howard B,
2007). Moreover, the increase in adoption of greener operation methods by corporate
organizations as a result of evident climate change in recent years [ CITATION Cal19 \l
1033 ] has contributed to more people joining LOHAS. With a potential surge in market
growth, consumers are likely to purchase BM’s products to show their support for
LOHAS.

2.2 Market Growth/Structure

Since the meat substitute industry is very saturated, BM strives for product
differentiation from its competitors despite being a monopolistic competitive firm. To
successfully achieve this, micro and macro environmental factors are analyzed.

2.3 Micro & Macro Environment Factors

Micro-Environment Factors

Marketing Intermediaries
Marketing events in Singapore has raised environmental awareness such as
Takashimaya “Love The Earth” Campaign [ CITATION Tak19 \l 1033 ], World Meat Free
Week [ CITATION Wor19 \l 1033 ] and Health Promotion Board ‘eat, drink, shop Healthy
Challenge’ program [ CITATION Min19 \l 1033 ]. These platforms are utilized to showcase
the organization’s commitment towards an eco-friendly and sustainable environment for
shoppers by explaining the negative effects on health and environment sustainability.

Competitors
There are currently not many competitors in the market, but the key competitors
identified are Impossible Food and Quorn.
Macro-Environment Factors

Demographic Forces
Excessive consumption of real meat attribute to Singapore’s top ten fatality reasons
from diabetes to stroke.
 
Natural Forces
Consumers have started to scrutinize their diet and adopt a healthier lifestyle and
mindset towards planet sustainability as the impact of climate change becomes more
noticeable in recent years (California Institute of Technology, 2019).

Social Forces
The rapid advancement of technology has increased the usage of social media such as
Facebook and Instagram as a medium to advertise, raise awareness and initiate the
‘word of mouth’ effect.

Situation Analysis (SWOT)

Figure 2 explains the situation analysis using SWOT framework.
3. Marketing Objectives
The marketing objectives are created using SMART framework.

Specific
The main marketing objective is to increase sales by 20% within the next six months by
working with cafes and major supermarkets such as NTUC and Giant to facilitate
availability and accessibility of BM’s products to all consumers throughout Singapore.

Another objective is to list BM as the first choice for LOHAS consumers by promoting
environmental and nutritional product benefits to change the public’s mindset of defining
meat in the long-term.

Measurable
The marketing team will work together with three to four new cafes that have zero
vegetarian food options every month. Bringing a new product variety to the menu
attracts consumers and induce potential sales for BM.

Also, in line with BM’s mission of using plant-based meat to solve growing
environmental issues, the firm will work with supermarkets distributors to allow
increased availability at more outlets and non-carrier supermarket such as Giant in
Singapore within the next 3 months. 

Achievable
By setting a deadline within a month, achieving the goal of increasing sales by 20% in
the next 6 months is achievable.
Realistic
Currently, the availability of BM’s products is limited to selected venues and their
products that promotes the real taste of meat face skepticism from locals. To combat
these challenges, products will be distributed and sold at more accessible and
convenient locations with high human traffic such as city business districts (CBD).
These workers with higher buying power can conveniently purchase products and
through ‘word-of-mouth’ effect, eventually dissipates the perception of plant-based
meat’s unfamiliar taste.

Timely
Sales are expected to increase within the next six months.
4. Buyer Behavior
Figures 3 and 4 illustrates buyer behavior for four different types of consumers.
After determining buyer behavior, BM must conduct the buyer decision process.

Referring to Figure 5, LOHAS consumers must first recognize their needs of purchasing
BM’s products that is conveniently available. Their external stimuli towards the
recognized problem can be triggered by advertisements on social media or electronic
devices. 

Then, consumers will browse BM’s official website for information related to their meat-
free products ranging from the company’s mission and vision to ingredients nutritional
benefits of the products to the nearest available store that sells these products on their
personal mobile electronic devices.

Following which, consumers will evaluate other alternatives from BM’s competitors and
food options such as salad, lean meat or fish that are not listing in LOHAS group to
facilitate a more informed purchase decision that satisfy their needs.

After that, LOHAS consumers will decide on their product purchase that supports their
individual and cultural belief of procuring nutritional products from an eco-friendly
production process. Another key deciding factor will be the venue of the pending
product purchase relative to their location (convenience).

Lastly, consumers perform post-purchase evaluation to express their satisfaction with

the product through reviews on the company’s website.
Based on the buying decision process, the target market can then be identified.

5. Target Market
5.1 Market Segmentation
Figure 6 to 9 illustrates market segmentation with respect to the four aspects.
5.2 Market Targeting and Profiling
BM’s unique products are manufactured from plant-derived ingredients that reaches out
to restrictive diet audiences. Concentrated market strategy will address the needs of
LOHAS market segment.

For market targeting, BM targets female working adults with medium to high buying
power that is constantly searching for new eco-friendly products in the market. These
consumers are likely to frequent eco-friendly cafes and are potentially regular social
media users.
6. Competitor Analysis
Likewise, SWOT analysis framework compares BM and its competitors using the same
aspects for market segmentation, and 4Ps for market positioning to facilitate a more
informed decision on the potential success of expanding into the Singapore market. As
BM is an established company in the faux meat industry, the major competitors are
Quorn and Impossible Foods, with the latter leading the forefront in regard to market
share [ CITATION Owl192 \l 1033 ] . Other competitors to note are meat companies such as
Tyson’s Foods and Perdue Foods [ CITATION Rei19 \l 1033 ], and prominent brands with
large product lines such as Kellogg and Nestle [ CITATION Rei19 \l 1033 ]. To simplify the
competitor analysis, only the two major competitors are compared. 

6.1 Competitor Analysis (Market Segmentation)

In Figure 10, the geographic locations for BM and Impossible Food are segmented
according to East Coast neighborhoods mainly in the Katong and Central region
respectively, and CBD areas at Chinatown, and Raffles Place and/or City Hall to target
consumers who frequently these areas and leverage on their higher spending power
and more lavish lifestyle to induce product purchases. Since Quorn is priced lower, they
target family-oriented neighborhood in the East and West to introduce plant-based
burger from a young age.
On a scale in the aforementioned categories in Figure 11, Quorn is noticeably on the
lower end, followed by BM, and Impossible Food bringing up the rear. In the
functionalist world, income is directly proportional to education, resulting in the
difference in segmented age and life-cycle stages. For gender, BM is more inclined
towards the female population, while their competitors have no preference.

In terms of psychographic segmentation, all companies as illustrated in Figure 12

showcase the same values, interests, lifestyles, and attitudes of consumers. A possible
conclusion reached is the same attitude and values upheld by consumers leads to the
adoption of the same lifestyle with the same interests.
In terms of behavioral segmentation, all three firms are similar in the four classifications
in Figure 13. The only notable difference is the usage rate where both Quorn and BM
segments light to medium consumers while Impossible Food differentiates medium to
heavy users. Income range differentiated in the demographic segmentation of higher
income denotes higher consumer affordability and purchasing prowess that leads to
heavier usage rate.

To effectively perform competitor analysis, market positioning must also be conducted.

6.2 Competitor Analysis (Market Positioning)

According to Figure 14, each brand utilizes different product ingredients to manufacture
their plant-based burgers. In the product history of these ingredients, all firms have
admitted minimal side effects of consuming their plant-based burgers such as
developing anaphylaxis towards their product as a result of being allergic to the product
ingredient involved exists. To counter this, all companies have explicitly affirmed
affected consumers only comprise of an extremely low population size and emphasize
their products promote planet sustainability and pose no detrimental harm to human
health.

For price, Impossible Food is ranked the highest as it distributes extensively at higher-
end restaurants such as Gordon Ramsay’s Bread Street Kitchen and Curious Palette at
Prinsep Street [ CITATION Lee19 \l 1033 ]. Closely followed is BM that distributes selective-
extensively at Bread Street Kitchen as well and NTUC Finest with the price aimed at the
range of higher middle income [ CITATION Chi19 \l 1033 ]. In contrast, Quorn sits on the
lower end of the price scale with intensive-selective distribution at RedMart and Amazon
Prime [ CITATION Quo191 \l 1033 ].

With regards to promotion, advertising from Deliveroo is a form of promotion by

Impossible Food to showcase an identifiable sponsor to the public [ CITATION Ebe19 \l 1033
]. In addition, direct and digital marketing is leveraged by Impossible Food and BM
through Today news outlet [ CITATION Ebe19 \l 1033 ] and Lazada [ CITATION Laz19 \l 1033 ]
respectively to garner immediate responses and build lasting relationships through
direct engagement with consumers. Sales promotion is too adopted by BM and Quorn
through Cold Storage [ CITATION Col19 \l 1033 ] and FairPrice websites [CITATION Fai19 \l
1033 ] to incentivize customers to purchase their product in the short-term. Besides this,
Quorn utilizes personal selling on NTUC website by listing their key product information
as a versatile food product that creates different varieties of delicious meals [ CITATION
Fai19 \l 1033 ] to engage customers, increase sales, and construct customer
relationships.

On its official Facebook page, BM has stated its position as a “Food Wholesaler in
Singapore” [ CITATION Bey19 \l 1033 ] . As a wholesaler, the company collects raw materials
from its suppliers and perform procurement, packaging, and quality control before
distributing to supermarket retailers for sale. Their rival, Impossible Food, poised as a
retailer to focus on product procurement and online marketing by outsourcing delivery to
a third-party logistics (3PL) company [ CITATION Wig19 \l 1033 ] for distribution to retail
outlets and end-consumers. Similarly, Quorn, adopts the position of retailer to
concentrate on product procurement, especially to prevent public uncertainty and
commotion due to the huge debate of the ingredient (mycoprotein) being extracted from
molded mushrooms [ CITATION Bly18 \l 1033 ]. Therefore, the firm too contracted a 3PL for
delivery to retailers and end-customers.
Through market segmentation on the four aspects, and market positioning on the 4Ps,
Impossible Food earns the highest revenue, followed by BM, and then Quorn.
Therefore, the revenue earned indicates the corresponding size of market share each
firm holds as denoted by the size of the logo in Figure 15. 
7. Product (Marketing Mix)
7.1 SWOT Analysis

Although plant-based meat is beneficial to human health, the product seems to be

unappealing to most older generations (X and Y). To turn this weakness into
opportunity, the product can focus on the potential benefits to human health, with the
emphasis towards the mature and centenarian generation. However, the product
storage requirements must be adhered to prevent any compromise with nutrients due to
poor temperature and humidity controls.

Recently, the Singapore government has been actively raising awareness and
promoting healthy living. This initiative has motivated locals to adopt a healthier lifestyle
and seek healthier food options. Through idea generation from external sources, the
marketing team has thought of using product line filling to promote and raise awareness
of the high quality, nutritional and organic ingredients used such as pea protein in the
products. Besides existing products such as the renowned Beyond Burger, new product
varieties will be introduced to the product line such as chili and cheese flavors to provide
consumers with more fuller line choices while increasing profits. 
7.3 3 Levels of Products
The three levels of products of core customer value, actual product, and augmented
product are further elaborated below.

Core Customer Value

The first level for product identification to design and develop a product for the desired
customer must address the type of product and benefits consumers will buy, and how to
resolve any arising problem to their purchase decisions. For example, the plant-based
meat is designed to accommodate to LOHAS consumers by promoting planet
sustainability and quell any potential problems arising. 

Actual Product
The core benefit and customer value will be incorporated into the actual product. These
core elements are product features and quality; and brand packaging, name and
design. Since the main ingredient is pea protein in plant-based meats, they undergo
processing, weaving, and various combination of flavorings to procure different meat
substitutes [ CITATION Tra19 \l 1033 ]. As for brand-related attributes, BM’s signature fork
featured within the rustic stamped typography and crowned by the veggie animal
symbol [ CITATION Lin16 \l 1033 ] allows easy identification. Furthermore, the mouth-
watering food photography illustrated on the packaging tempts consumers to taste this
delicious food.

Augmented Product
BM can offer additional customer services and benefits by partnering with different
restaurants and cafes. For example, the collaboration of Blue Apron and BM has been
successful as shown in most customers expressing their interest in adding plant based
Beyond Burger to Blue Apron’s menu [ CITATION Jam19 \l 1033 ]. In terms of individual
benefits, BM product has a short preparatory cooking period, which highlights the
efficiency and convenience of cooking at home.
7.4 Product Classification & Range
BM is classified under specialty products due to the relatively higher price than their
meat counterparts that resulted in infrequent product purchases. These purchases are
often triggered by consumer’s decision of when to consume healthier or reduced meat
in their diet.

In terms of product range, BM encompasses burger beef patties, sausages, and beef
crumbles to align with the largest meat categories of beef, pork, and poultry. 
8. Price (Marketing Mix)
8.1 SWOT Analysis

In terms of price, plant-based meat definitely has increased cost-savings when

comparing plant cultivation against animal domestication and/or rearing. Considering
high machinery expenses, these meats will be priced higher than animal-based meat. In
the long-term, these automated processes will enable redistribution of the increased
opportunity costs from animal production expenses to other investments. However, high
pricing threatens consumers to reconsider patronizing their product and possibly jump
to other forms of faux or conventional meat.

Since BM falls under monopolistic market structure where differentiation and

uniqueness pose no close substitute [ CITATION Lum19 \l 1033 ] , the company’s brand,
quality, and taste will be easily recognized despite having many competitors in the
market. WARC (2013) explains almost half of the global population jumped brands
because of better quality despite the increased price.

8.2 Pricing Strategies

BM can priced the value-added product features based on quality, health benefits, and
taste of consumers. Since the accumulated presence of potential entrant market
competitors may set lower prices that affect consumer’s price sensitivity, BM needs to
create brand loyalty to lower the sensitivity through advertising and promotions to
increase awareness and demand [ CITATION Lum19 \l 1033 ].

High-low pricing strategy is adopted to attract BM’s targeted audience. A higher price is
fixed on normal days while frequent promotions runs on selected occasions related to
health and environment such as Earth Hour on 22 Apr yearly [ CITATION Wee19 \l 1033 ]
and World Meat Free Week [ CITATION Wor19 \l 1033 ].
8.3 Price Adjustment Strategies
BM has adopted four price adjustment strategies to remain competitive in the market in
terms of pricing while meeting consumer’s perceived value of BM.

In Figure 18, product-form pricing sets different prices for different product range of
burger patties, sausages, and bread crumbles. Location pricing is also leveraged in
supermarkets and cafes to accommodate to consumers purchasing prowess as evident
in the lower price charged in supermarkets than cafes. For promotional pricing, the firm
adopts high-low pricing that focuses on stock clearance before product expiry
commences by temporarily increasing sales. Lastly, discount and allowance pricing aim
to encourage consumer splurging at that moment by lowering product prices.

By adopting these pricing strategies, product wastage is minimized while product

awareness is boosted simultaneously.
9. Place (Marketing Mix)
9.1 SWOT Analysis

As for place, convenience is an important customer need and is vital to a firm’s success
for market expansion as depicted in Figure 19. Despite catering to their needs, the
availability of products is restricted due to selective distribution. With the government
and activists calling for planet sustainability, expanding into new territories with plant-
based meat seems to be a viable option that supports this notion. Despite only 9% of
the estimated $2.7 trillion global meat market by 2040 in projected profits [ CITATION Dar19
\l 1033 ] belong to faux meat, the firm should take note of how selective distribution
constraints the growth of brand awareness within the distributed outlet’s vicinity.
9.2 Marketing Channels

Products are distributed using conventional marketing channel in Figure 20 to

wholesalers before delivering to retailers such as FairPrice Finest and Cold Storage,
and end-consumers.

In terms of multi-channel distribution systems, BM currently conducts their distribution

through an intermediary (retailer) to facilitate the product transaction. In addition, the
company can conduct direct purchasing via online through food delivery apps such as
GrabFood and Foodpanda to shorten lead time and streamline the supply chain. This
method allows the company to put up all relevant product content on their website for
easy access and shorten advertising cost.

By using a dual channel system in Figure 21, BM can reach out to more consumers and
fortify their market presence in Singapore.
10. Promotion (Marketing Mix)
10.1 SWOT Analysis

Figure 22 illustrates the promotion of planet sustainability as the essence of millennial’s

survival. Since the brand has low awareness, the company can use the opportunity to
advocate corporate social responsibility to highlight how individuals and food and
beverage sector can contribute to an eco-friendly environment. However, these good
intentions are tougher to execute due to added competition from prominent food
processed manufacturers and companies procuring similar plant-based meats. 
10.2 Promotion Mix Strategies

Pull Strategy

For BM, pull strategy in Figure 23 is used for the promotional mix. Since consumers are
moving towards a healthier lifestyle, there is an increased demand for organic and
healthier choice products.

Direct and Digital Marketing through Communication Channels

Social media platforms such as Facebook, Instagram and Twitter can be used as a
platform to advertise products and a gateway for opportunities to collaborate with other
companies. By collaborating with various Instagram influencers, BM can reach out and
attract more millennials and change their mindset of meat substitute products. However,
it is important to work with the right influencer to reach the target audience and promote
engagement.

To develop effective marketing communication, BM can use personal and nonpersonal

communication channels. The first channel consists of word of mouth, opinion leaders,
and buzz marketing to influence more people to patronize BM’s products through a
widened social network. For example, Snoop Dogg, a globally popular celebrity,
acknowledges the benefits of plant-based meats [ CITATION Gib19 \l 1033 ] because of the
positive impact it brings to an individual’s physique and performance. The latter channel
uses major media such as print media and events. Through softcopy and/or hardcopy
newspapers, BM can promote its newly launched products into the Singapore market.
Such news can reach a wider audience and raise brand awareness.

Sales Promotion
Promotional pricing is also adopted by BM to increase short-run sales with lowered
listed price. For example, a special promotion event that gives out free samples of BM’s
plant-based meat can be held at mini booths in supermarkets. This opens an
opportunity for consumers to test and self-evaluate the new product first-hand, which
can possibly lead to a shift from animal-based meat to plant-based meat. Additionally,
the products can be priced relatively lower such as providing a 20% discount to
incentivize consumers to purchase the product instantly.

BM can also promote their brand at eco-events that are held in Singapore whereby
product sampling booths can be set up for product testing and even provide special
discounts or coupons to potential consumers at the event if they were to order the
products directly or from their nearest supermarket chain.
11. Conclusion 
To expand into the Singapore market, the situation analysis of BM is conducted in
alignment with their mission and objectives with the targeted market. The market size
and potential are first researched before calculating the market growth with regards to
micro and macro environment factors of marketing intermediaries and competitors; and
3 forces (demographic, natural, social) and performing a SWOT analysis on the current
market situation. Using SMART framework, the marketing objectives are highlighted
before discussing the buyer behavior for four types of consumers (LOHAS, naturalities,
conventionals, unconcerned) and the buyer decision process. After which, the target
market is segmented according to geographic, demographic, psychographic, and
behavioral aspects, and profiled. After which, competitor analysis of Impossible Food
and Quorn is conducted using market segmentation of the same four aspects
mentioned earlier and positioned on a positioning map to showcase the market size of
each company. Bringing up the rear are the 4Ps of the marketing mix in terms of the
SWOT analysis, how beneficial each ‘P’ is to consumers and/or BM, and the strategies
recommended to counter the challenges proposed.

Through this report, BM seeks to increase market share and profits by raising
awareness on their humble variety of plant-based meat substitute products and use
these proposed promotion strategies to expose customers to a healthier and more
sustainable lifestyle. This approach can hopefully entice customers through the unique
product formula and encourage them to be supporters of non-GMO and soy-free foods,
which value adds to the cause of leading a LOHAS lifestyle.
12. References
B. Howard
LOHAS consumers are taking the world by storm
Total Health, 29 (3) (2007), p. 58

Beyond Meat, n.d. [Online]

Available at: https://www.facebook.com/beyondmeatsingapore/
[Accessed 4 Oct 2019].

Blythman, J., 2018. The Quorn revolution: the rise of ultra-processed fake meat.
[Online]
Available at: https://www.theguardian.com/lifeandstyle/2018/feb/12/quorn-revolution-
rise-ultra-processed-fake-meat
[Accessed 4 Oct 2019].

California Institute of Technology, 2019. The Causes of Climate Change. [Online]

Available at: https://climate.nasa.gov/causes/
[Accessed 6 Aug 2019].

Chai Chin, N., 2018. Like real meat, but guilt-free? Beyond Burger debuts in Singapore.
[Online]
Available at: https://www.todayonline.com/singapore/real-meat-guilt-free-beyond-
burger-debuts-singapore
[Accessed 23 Sep 2019].

C.J. Chou, K.S. Chen, Y.Y. Wang

Green practices in the restaurant industry from an innovation adoption perspective:
evidence from Taiwan
Int. J. Hosp. Manag., 31 (3) (2012), pp. 703-711

Chim, J., 2019. 12 Cafes In Singapore With Vegan Burgers From Impossible Foods &
Beyond Meat. [Online]
Available at: https://thesmartlocal.com/read/vegan-burgers/
[Accessed 3 Oct 2019].
Cold Storage, 2019. Beyond Frozen Meat Burger Patties 80z. [Online]
Available at: https://coldstorage.com.sg/product/beyond-meat-burger-patties-80z-
5040337
[Accessed 3 Oct 2019].

Dairy Farm Group, 2019. Home. [Online]

Available at: https://www.dairyfarmgroup.com/en-US/Home
[Accessed 29 Sep 2019].

Darie, T., 2019. Protein ‘Shake-Up’ Could Push Faux Meat Market to $240 Billion.
[Online]
Available at: https://www.bloomberg.com/news/articles/2019-09-17/protein-shake-up-
seen-pushing-faux-meat-market-to-240-billion
[Accessed 4 Oct 2019].

Eber, A., 2019. Impossible Foods' plant-based 'meat' available on Deliveroo from May
21. [Online]
Available at: https://www.todayonline.com/singapore/deliveroo-widens-choices-
consumers-impossible-foods-plant-based-items
[Accessed 3 Oct 2019].

FairPrice, 2019. Quorn Proudly Frozen Meat Free - Mince. [Online]

Available at: https://www.fairprice.com.sg/product/quorn-mince-300g-13104641
[Accessed 3 Oct 2019].

Gibbert, 2019. BEYOND MEAT. [Online]

Available at: https://gibbertcb.wordpress.com/2019/05/29/beyond-meat/
[Accessed 24 Sep 2019].

Green Future Solutions, 2011. Exploring New Green Consumption Trends – LOHAS
and Collaborative Consumption. [Online]
Available at: http://www.greenfuture.sg/tag/lohas/
[Accessed 25 Sep 2019].
James, L., 2019. Blue Apron Partners With Beyond Meat To Offer A Plant-Based
Burger To Customers. [Online]
Available at: https://www.forbes.com/sites/laurajames/2019/07/19/blue-apron-partners-
with-beyond-meat-to-offer-a-plant-based-burger-to-customers/#7eac97d82801
[Accessed 23 Sep 2019].

Lazada, 2019. Beyond Meat Beyond Burger Plant Based Meat - Frozen. [Online]
Available at: https://www.lazada.sg/products/beyond-meat-beyond-burger-plant-based-
meat-frozen-i304292993-s538532489.html
[Accessed 4 Oct 2019].

Lee, B., 2019. Meatless meats: Where to try Impossible Foods’ plant-based burgers,
pizzas, sausages, and more in Singapore. [Online]
Available at: https://coconuts.co/singapore/food-drink/meatless-meats-where-to-try-
impossible-foods-plant-based-burgers-pizzas-sausages-in-singapore/
[Accessed 4 Oct 2019].

Lin, D., 2016. Beyond Meat Redesign. [Online]

Available at: https://www.packagingoftheworld.com/2016/10/beyond-meat-redesign.html
[Accessed 23 Sep 2019].

Lumen, n.d. Monopolistic Competition. [Online]

Available at: https://courses.lumenlearning.com/boundless-
economics/chapter/monopolistic-competition/
[Accessed 2019 Sep 2019].

Ministry of Health Singapore, 2019. Eat, Drink, Shop, Healthy Challenge. [Online]
Available at: https://www.healthhub.sg/programmes/136/eat-drink-shop-healthy-
challenge
[Accessed 25 Sep 2019].

Owler, 2019. Beyond Meat's Competitors, Revenue, Number of Employees, Funding

and Acquisitions. [Online]
Available at: https://www.owler.com/company/beyondmeat
[Accessed 1 Oct 2019].
Owler, 2019. Impossible's Competitors, Revenue, Number of Employees, Funding and
Acquisitions. [Online]
Available at: https://www.owler.com/company/impossiblefoods
[Accessed 1 Oct 2019].

Quorn, 2019. About Quorn. [Online]

Available at: https://www.quorn.sg/about-quorn
[Accessed 1 Oct 2019].

Reinicke, C., 2019. Beyond Meat costs more than traditional meat, but data show
consumers are willing to pay the premium price - for now (BYND). [Online]
Available at: https://markets.businessinsider.com/news/stocks/beyond-meat-sales-are-
high-but-so-is-price-2019-7-1028346898
[Accessed 23 Sep 2019].

Reinicke, C., 2019. Beyond Meat’s blockbuster year has ignited the plant-based food
industry. Here are 6 companies that have launched fake ‘meat’ products to compete..
[Online]
Available at: https://www.businessinsider.sg/top-6-beyond-meat-competitors-made-by-
traditional-food-companies-2019-9/?r=US&IR=T
[Accessed 4 Oct 2019].

Singapore Department of Statistics, 2019. Population and Population Structure. [Online]

Available at: https://www.singstat.gov.sg/find-data/search-by-

theme/population/population-and-population-structure/latest-data
[Accessed 29 Sep 2019].

Sos, N., 2018. Where to Eat Gluten Free in Singapore. [Online]

Available at: https://www.augustman.com/sg/food-drink/eat-gluten-free-singapore/
[Accessed 25 Sep 2019].

Takashimaya, 2019. Love the Earth. [Online]

Available at: https://www.takashimaya.com.sg/lovetheearth2019/
[Accessed 29 Sep 2019].
The Walt Disney Company, 2018. Disney Expands Environmental Commitment By
Reducing Plastic Waste. [Online]
Available at: https://www.thewaltdisneycompany.com/disney-expands-environmental-
commitment-by-reducing-plastic-waste/
[Accessed 27 Aug 2019].

Trainer, D., 2019. Pre-IPO Coverage: Beyond Meat (BYND). [Online]

Available at: https://www.forbes.com/sites/greatspeculations/2019/05/01/pre-ipo-
coverage-beyond-meat-bynd/#654f86a75fd3
[Accessed 23 Sep 2019].

WARC, 2013. Consumers value quality over price. [Online]

Available at:
https://www.warc.com/newsandopinion/news/consumers_value_quality_over_price/321
09
[Accessed 24 Sep 2019].

Weekender, 2019. Green Events To Join Ahead Of Earth Day In Singapore 2019.
[Online]
Available at: https://weekender.com.sg/w/do/earth-day-singapore-2019/
[Accessed 29 sSep 2019].

Wiggers, K., 2019. Impossible Foods will sell its improved meatless burger at select
grocery stores. [Online]
Available at: https://venturebeat.com/2019/01/07/impossible-foods-will-sell-its-improved-
meatless-burger-at-select-grocery-stores/
[Accessed 4 Oct 2019].

World Meat Free Day, 2019. World Meat Free Week. [Online]
Available at: https://www.worldmeatfreeweek.com/
[Accessed 29 Sep 2019].