Beyond Meat’s Generic Business Strategy
Which generic strategy is Beyond Meat following? What are examples to support your answer?
BM is following differentiation business strategy.
Beyond Meat Generic Business Study
Beyond Meat follows the differentiation business strategy; the key objective of employing a differentiation plan is to increase the competitive lead. Beyond Meat takes in food and tech specialists, often with the solitary drive, to help them produce flawless products continuously (Bashi et al., 11). A differentiation strategy needs the business to give sole characteristics to a service or product, and it should satisfy the necessities of a narrow or niche market.
This advantage of a differentiation strategy is that Beyond Meat builds on the exclusive qualities of a product. The company has created a record of features its products comprise that its competitors do not have. For example, the product formula Beyond Meat uses is the formula of ultra-processed food (Bashi et al., 11). Ultra-processed foods are referred to as foods produced with no whole foods or little with processed substances or ingredients that are refined from whole foods.
Beyond Meat offers unique and high-quality products. When products are distinguished and twisted into better quality products, as averse to cost control, the differentiation plan permits businesses to yield on a pioneering tactic for their goods and impose premium prices (Sun et al., 15). For example, Beyond Meat sells products that use only plant-based proteins. A burger costs $6.99, significantly pricier than the ordinary burger; plant-based burger making is expensive than beef. The meatless substitutes are produced on a smaller scale, whereas animal farming supports guarantee animal goods endure affordable to customers.
Beyond Meat has the best fast-food provision by using high-quality ingredients and has healthier products (Hill, Terry 17). For example, a Beyond burger comprises 270 calories, 5 grams of soaked fat, and 390 mg of sodium. In contrast, Walmart’s Beef Burger has 30 fewer calories and two extra grams of soaked fat. It also has 300 mgs fewer sodium. Ultimately, Beyond Meat uses plant-based ingredients to produce its products, making its products different from its competitors.
Bashi, Zafer, et al. “Alternative proteins: the race for market share is on.” McKinsey & Company: Denver, CO, USA (2019).
Sun, Cuixia, et al. “Processing, quality, safety, and acceptance of meat analog products.” Engineering (2020).
Hill, Terry. Manufacturing strategy: the strategic management of the manufacturing function. Macmillan International Higher Education, 2017.