Module 2 - Application Forum Activity 100 points Final Deadline for Post with Attached Similarity Report, Sunday, Sept. 11th 11 pm Submission to Originality Check No later than 10:30 pm, Sunday Sept. 11th Reply due to a Peer by 11:55 pm, Sunday, Sept. 11th Suggested Submission to Check Similarity Link: Thursday Saturday, Sept. 8th11th Entomogaphy, or the eating of insects, is common throughout much of the world. We're not talking about novelty foods, such as chocolate covered crickets, or live insects eaten on a dare, but rather the systemic incorporation of insect parts or insect protein into one's regular diet. Cricket protein is one of the most common forms of insects marketed in the United States. Watch the video, "The Future of Food: Eating Insects" (https:[[www.youtube.com[watch?v=F25DrJ8AOzU) for a quick overview, but conduct additional research as well to familiarize yourself with the topic For this forum, you will be developing a PESTEL analysis that would be helpful to a business or organization that is considering manufacturing and marketing products to ultimate consumers that make use of insect protein. Don't worry about the nature of the product at this point it could be baked goods, pasta, or anything made of flour. It could be something manufactured as an alternative to beef, pork or other forms of protein. For now, take a broad prospective. In later forums, you will develop your idea for a particular product or business and how you will market the item. So try to gather some information that will help you in that regard. It would first be beneficial to begin my learning more about entomogaphy. As you conduct your research and read various articles on the subject, look for facts and trends that are relevant to the PESTEL analysis and which fall under the headings of political, economic, socio-cultural demographic, technological and environmental (natural resource) headings. Also consider trends or events that might impact existing products for which insect protein might be considered a substitute (e.g, traditional flour, beef, pork, fish, etc.) You can also find information my researching topics such as "economic trends\" and then justifying in your paper which trends are relevant to the situation. Your goal is to identify key facts, events and trends in these environments that may impact the marketing of products made (at least in part) from insect protein to U.S. citizens, especially those trends/events that may present key opportunities or threats. If done well, your PESTEL analysis should also help you in potentially identifying which insect-protein based product concepts are most viable. This is the desired and result of your analysis. Your forum response will be heavily research-based. You MUST cite the sources of information within the body of your post, and you MUST cite the full reference for each source at the end of the post (under the heading \"References"). Use APA format for all citations. Every paragraph must contain at least one citation. The Assignment Refer to the Module 2 Readings in Marketing Strategy as you examine the political, economic, socio- cultural demographic, technological, environmental (natural resources} and legal environments. Also check the various PESTEL resources listed on the PESTEL Resource page in this section. The following sections provide a list ofquestions to help guide your research. Try to find as much ofthe information as possible. Not all portions of each question below may be relevant; the questions shown are ones that should be considered for ANY type of product or business when conducting a PESTEL analysis. 50 don't get frustrated, but at the same time, make a good faith effort to find information. Sociocultural and Demographic Trends Question 1: identify key trends, events, factors, changes, or facts related to U.5. consumer demographics, values, attitudes, activities and lifestyles that may impact the consumption or marketing of insect-based food products. The noted information may help to suggest potential product opportunities. Also consider trends, events, attitudes, values and factors that may impact the industry in the future, potential product concepts in the future, or the viability of product markets in the future. It is very likely that you will find multiple trends or events in this environment that are highly relevant to food consumption (and the consumption of insect protein in particular) or the marketing of food products, as well lifestyle activities / trends that may provide ideas for various product concepts. See what you can find out about the people in the U.S. who consume insect protein as part of their diet. Information on potential target markets is very helpful when evaluating potential opportunities. Think about how the information you learn may impact a potential product's characteristics (features, benefits, branding), pricing (value), distribution and supply chain (convenience, efficiency), promotion (message content, delivery, feedback), and people (human resource issues). Some of this information can be helpful in eliminating non-viable product concepts in a future discussion forum. Technological trends and improvements Question 2: How have, or how might, recent technological advances affect potential customers concerning needs/wants/preferences, access to information, the timing and location of purchase decisions, the ability to compare competing product offerings, or the ability to conduct transactions more effectively and efficiently (in the context of potential product offerings)? identify any future technologies that may threaten the product's viability or its marketing efforts. How have recent technological advances affected the manufacturing, process efficiency, distribution, supply chain effectiveness, promotion, cost-reduction, or customer relationship management? Economic conditions, events, and trends Question 3: Discuss factors and trends related to interest rates, consumer confidence, the level of disposable income, unemployment rates and consumer's purchasing power, specifically from the perspective of the consumer food industry, or insect-protein products in general. Specific emphasis should be placed on how various economic conditions impact potential customers' ability to purchase discretionary food products, alternate forms of protein, luxury food products and. Any information pertaining to demand for insect-related products of various types would be excellent information to add to this section. Political, Legal and Natural Environment Resource Trends and Events Question 4: identify any events or outcomes tied to the political, legal or natural resource environments that create opportunities, or threaten efforts to market the insect-based food products in the U.S. now or in the future. Important regulatory issues govern the food industry and should be discussed visit the FDA and FTC for more information. Also consider political activities affecting the product or the industry (domestic or foreign), potential regulations favored by elected officials, industry (lobbying) groups or political action committees, and consumer advocacy groups. Tax policies and subsidies that impact the product, the industry, or its competitors should also be considered. Changes in trade restrictions, tariffs, and government stability abroad are an important consideration for products that compete in a global arena or which are impacted by exports or substitute products. For example, consider the stability of governments. The war between the Ukraine and Russia is projected to impact food costs, because these two countries produce 30% of the wheat that is exported. (Find a source to document this information and learn more through additional research}. What will happen to the cost of wheat, and correspondingly to the cost of traditional flour? Could this present an opportunity for marketers of cricket flour, or products that use cricket protein? Review the Module 2 Discussion Forum Grading Rubric and the Module 2 Application Forum Formatting and Process documents carefully are you prepare your responses, and ready them for submission for the "Check Similarity\" link. There are no guidelines for the minimum or maximum number of words required, but posts lacking substance, or with obvious omissions, or those which otherwise indicate superficial thought will receive little if any credit. I do expect your responses to be thorough and this will be the most researchintensive application forum. Posting Replies to Other Students In addition to answering the forum questions and posting a PDF of your similarity report, you are expected to read the posts written by others and respond to at least one person in detail. You should be just as diligent and thoughtful in the reply post that you make to a peer. Read several posts before deciding which one to reply towards in a substantive manner. Replies that receive full credit . . . l) critically evaluate the student's original post; 2) relate aspects of the original post to text readings or external sources not mentioned by the student; 3) add relevant additional information not covered in initial post; 4) offer relevant personal or business perspectives that apply to the post; and 5) offer additional recommendations where appropriate Your reply to a class member is due no later than Sunday, at 11:55 pm