Ecovative (www.ecovative.com) is an North American based company who have invented and patented a new packaging technology that is eco-friendly (TED Talks Season 24 Episode 10.01.10 – Eben Bayer: Are mushrooms the new plastic?)
They are seeking to develop worldwide impact by promoting the use of their technology (product and process) as a replacement to traditional use of toxic chemicals and plastics such as formaldehyde and Styrofoam.
Watch the video, peruse the website. Take a look at the five current applications that mycelium can be used for. Now consider this in the context of your home country market. Research and discuss with your syndicate what agricultural by products are in abundance and which might be suitable for use with mycelium.
Then research and discuss which industrial/manufacturing sector in your home country would be an appropriate market to target.
*1. The Price element of the Marketing Mix ( 450words) – This should include among other things:
Can you identify price points for current supplies?
Can you identify the elements of costs to be considered such as shipping/transportation?
What is the value to the customer of his current supply vs. mycelium products?
How will using mycelium products improve his value chain from manufacture to end customer?
*2. The Promotion element of the Marketing Mix (450 words) – This should include among other things:
What methods of promotion should be considered in launching this product in to this market?
Which would you recommend?
Where and when can you get across your marketing message to promote your product? Are there trade shows, industry journals, industry associations? How might you use Public Relations to gain exposure for your product?
* 3. Conclusion (200 words)