Marketing Cultured Meat Pet Food in Singapore

1. This individual graded assignment will constitute 100% of the overall summative assessment.

2. The individual graded assignment is to perform an evaluation of the case study outlined in Appendix A AND to provide recommendations for marketing activities targeted at consumers in Singapore. Your assignment should apply concepts from B2270C Consumer Behaviour - Topics 1 to 10.

3. Refer to Appendix B for details on the template for the individual graded assignment.

4. A suggested cover page and layout is provided in Appendix C.

5. Your individual graded assignment should be in the following format:

Format : PowerPoint slides

Font : Arial / Calibri. Minimum Font Size 16

Cover Page : To include Student Name, ID, programme and date

Reflection : To include answers to both reflection questions

GA Declaration : To include Graded Assignment Declaration with Student

Name, ID and declaration of original submission.

6. The individual graded assignment should NOT exceed the slide limit of 40 slides (excluding cover page, table of contents, appendices and references). Any content beyond the slide limit will not be taken into consideration in the submission.

A Forbes 2021 article describes the cultured meat industry as growing due to consumers who desire more meatless options. The global cultured meat market is expected to be worth $206.6 million by 2025, and companies are now making culture meat products for pets so that the entire family can reduce their carbon footprint on the environment.[1] The coronavirus pandemic has also affected the meat industry in multiple ways, including problems with imports and exports.

Consumers witnessed pet food shortages during the pandemic as stores struggled to keep up with demand. The growing trend of veganism and growing concerns for environment sustainability have also added to a rise in lab grown meat.[2] A study conducted among American dog owners, on factors affecting the consumer behavior of buying dog food, might also support the demand in the industry.

Bond Pet Foods has been developing food made from animal-free ingredients for pets since 2017, and now uses biotechnology to make cultured meat protein that includes all the essential amino acids required for optimal health in dogs and cats. The Bond Pet Foods website is available at: https://www.bondpets.com/our-mission/

The Colorado-based company has been featured in multiple publications for developing the world’s first animal-free chicken protein for dog and cat nutrition. While the cultured chicken protein is still a prototype with goals of having a market ready product by 2023, Bonds Pet Foods launched their first animal-free product in May of 2020 with sold-out success. The company’s digital marketing presence can be seen from their Instagram, Twitter and Facebook pages. Bonds Pet Foods’ participation and accolades in industry conferences and competitions has also contributed to their marketing campaigns. The following video can be used as an example for Bond Pet Foods’ marketing campaign:

It has been observed that there is a continuing trend in Asia where pets are regarded as companions and members of the family.[5] A Business Times 2020 article described Singapore’s demand for furry companions at an “all time high” with Singapore’s pet dog and pet cat ownership figures growing nearly 19% in 5 years.[6] In 2024, the Singapore pet healthcare market is forecasted to have a value of $13.3 million[7], while the cat care and dog care market is forecasted to have a value of $74.5 million[8] and $41 million[9] respectively. With pet food accounting for the largest segments in the cat care and dog care markets in Singapore (accounting for 87.2% - 98.9% of the total market value), cultured meat pet food might actually take off in Singapore.

Analyse this case study based on concepts in B2270C Consumer Behaviour and provide recommendations on how a suitable marketing campaign, involving Bond Pet Foods, might be created to target consumers in Singapore.

• You should focus on marketing current or upcoming products from Bond Pet Foods.

• You should also perform additional research outside the given reading materials to aid in your completion of the individual graded assignment.