Beyond Meat, an American multinational food company that sells a range of meat-free alternatives, is headquartered in America. Ethan Brown founded the company in 2009 with offices located in California. The firm employs nearly 500 people who are committed to providing clients with various beef, hog and poultry products. The business’s revenue has grown significantly over the past five years. The company had a sales margin of $87.93 millions in 2018 and $297 million for 2019. It was also $407 million in 2020. (Wunsch, 2021). An increase in revenue is indicative of a substantial growth in market share.
Company’s goal is to improve the efficiency of food production. Its goal is to provide customers with high-quality and nutritious animal- and plant-based meats that are rich in nutrients. To address issues such as animal welfare, climate change and human health, the company will offer plant-based options and healthier burgers, beefs, sausages, and crumbles. By listening to clients, the company’s mission is change people’s views about meat. It renovates and improves its goods to meet client feedback. In order to deliver high-value products, the corporate objective is that the firm focuses on product differentiation. Scientists and chefs work together to create better versions of already existing products. Our core values are quality, innovation, customer service and sustainability.
It offers a variety of meat-based and animal products. Beyond Burger, Beyond Beef and Beyond Sausage are just a few of the products offered by Beyond Burger. Customers will always receive products that are superior to their expectations. Unfortunately, the growing number of food-related diseases like obesity and cancer is increasing the concern over food safety. Because between 1 and 4 per cent of the population is vegan/vegetarian, this firm relies heavily on that community (Eveleigh, 2020). The number of people who are interested in plant-based meats is growing rapidly. The market for plant-based food is predicted to grow to $24 billion by 2024. Impossible Food and Beyond Meat will hold the largest market shares. The firm is unable to appeal to a majority of non-vegetarians due to its high production costs and supply chain bottlenecks. Beyond Meat’s high level of vitamin and mineral content makes it less nutritious, making this a problem. However, the company claims that its products do not contain genetically modified components.
Promotional techniques Used
The corporation promotes its products through its social media channels and websites. To entice customers and to influence purchasing decisions, other businesses may have included images on their sites. The firm also uses Facebook and other social media platforms to reach its market. Advertisements and images are promoted to potential customers via the company’s Twitter and Facebook profiles. Beyond Meat is well-known for its presence on social media platforms, with over 130,000 and almost 500,000 Facebook and Twitter followers, respectively. According to de Visser et. al. (2021) YouTube is used by the corporation for acquiring large amounts of internet clients. To recruit new clients, the company also makes use of traditional media such as TV and periodicals. The business uses vegan-related periodicals in order to increase its client base, due to the rising number of vegetarians and vegans.