Authors: Rumen Pozharliev, Matteo De Angelis
Abstract:
Founded in London by two young Italians, Francesco Majno and Edoardo Imparato, Small Giants has become one of the most important producers of insect-based food products at the international level. The firm has grown considerably following its introduction of mini crackers with 15% cricket flour, extra virgin olive oil and wheat flour. Small Giants’ success is evident from multiple angles: from its entrance into new markets (e.g., Italy and Poland), its increased penetration in UK supermarkets, and its recent raise of 800,000 euros from 491 investors. The firm’s huge potential stems from the fact that insect-based food products represent a valuable alternative protein source with clear environmental and ethical benefits compared to the conventional meat products. Indeed, livestock production significantly harms the environment through water pollution, greenhouse gas emissions and deforestation. In fact, one third of all the water used by the animal agriculture sector goes toward the production of beef. In order to keep the planet hospitable for future generations, it is essential that humans find other dietary solutions that can reduce carbon emissions – and Small Giants is banking on insects being part of that solution. The present case exposes how the firm achieved success by evolving its marketing strategy – from researching consumers’ mentality to drastically changing its brand name and positioning. All these changes were supported by a multi-method scientific analysis done by Luiss’ marketing scholars.
