As far as scaling solutions to solve sustainability issues, the discussion yielded plenty of applicable business insights, such as:
Impossible Foods isn’t just looking to serve people looking for meat alternatives, nor is it merely trying to make vegan food more delicious. It's positioning is bolder and more audacious. The target customers are meat-lovers—people who like the taste of meat and potentially its nutritional benefits.
Impossible Food’s earth-friendly production process is just a bonus. Impossible Foods is focused on providing consumers plant-based meat that is delicious and tastes just like the meat they love, while also enhancing the nutrition profile and affordability. This approach is fundamentally different from appealing to people to give up food they enjoy or buy into environmental concerns.
The company’s go-to market strategy included launching at high-end restaurants rather than supermarkets. It was interesting that they were optimizing for awareness and not for margins. Having famous meat chefs and restaurants cook people their favorite meat dish with Impossible Foods was an astute branding move.
We learned a great deal about issues in the meat industry, including the supply chain, production process, and labor market challenges. Dr. Brown seems only energized and excited at the prospect of dealing with them! I hope to one day turn my energies towards solving a sustainability issue (I personally feel disturbed by the amount of single-use plastics I end up bringing home with skincare products).
Sound business judgment is essential to tackle sustainability challenges—especially ones that try to solve fundamental and deep-rooted problems—and I’m confident that my learning at Booth, the lifelong resources I will have access to, and the Booth network will be invaluable every step of the way.
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