Plant-based food: Marketing Strategy to Target New-age Consumers

Abstract

This academic article aimed to study the marketing strategies to target the new-age consumers for plant-based food business. Plant-based business was the future business which was anticipated to play a crucial role in solving the global food crisis. New-age consumers were open to consuming plant-based foods as a new source of protein driven by their curiosity, increased health care, and concerns about environmental issues. Networks of the government and private sector, global economic recovery, interest in plant-based food from new-age consumers, development of advanced technologies, and concerns about environmental issues were external factors to support the growth of plant-based food business and industry. The strengths of plant-based food business included being suitable for vegans or vegetarians, high protein to replace meat, high sources and production capacity of raw materials, strong entrepreneur networks, supporting quality standards. Also, plant-based food business could seize growth opportunities from environmental trends, innovation development and promotion, global economic recovery, and access to the Internet and social media. The marketing strategies to target new-age consumers for plant-based food businesses were content marketing and social media marketing strategies to create good customer experiences, product value creation for plant-based food products to create value for customers, sales channel strategy through websites and/or e-commerce to provide ease of access via online channel, and electronic-word-of-mouth strategy to build relationships with customers.