This article examines the food industry by analyzing and comparing food companies that prepare meal kits for consumers.
Appropriate Subject Area(s):
Key Questions to Explore:
- What are consumers willing to trade for convenience?
Introduction to lesson and task:
This article explores the rapid rise of food prep companies and the convenience they bring to consumers. It also makes reference to raising capital publicly and compares that structure to private ownership.
Action (lesson plan and task):
- Ask the class to read the article.
- Using the structure of 1-2-4-all, ask students what opportunities they see for Fresh Prep. What challenges do they see and what recommendations would they implement? Have students start by thinking to themselves, then pair them up with another student to build on ideas from their own thinking. In combined groups of four, have them note the similarities and differences of the ideas generated so far. They should select one of the ideas to share with the class.
- One of the keys to success for this type of business is establishing a list of loyal clients. Ask students why this is important. What strategies do they recommend Fresh Prep use to ensure their growing list of clients stay with them? What strategies do they recommend for gaining new clients? Have them analyze the benefits and drawbacks of each.
Consolidation of Learning:
- Meal kits present a value proposition to consumers. Have students discuss what that value proposition is. Then discuss what justification consumers would use to accept this value proposition and what impact this has on families and household budgets.
- Students understand some of things that drive consumer behaviour.
- There are many considerations for Fresh Prep and the changing food industry to examine if they are to continue to thrive. Have students elect one of the following contrasts and prepare a brief analysis of the two perspectives:
- Acquiring vs keeping a customer
- Trading shares publicly vs private ownership
- Convenience vs value (meal kit vs homemade)
- Meal kit vs restaurant
- Traditional grocery store vs one with ready-made foods