Marketing and Consumption of New Products

Read each question carefully. Answer each question completely. Blank responses are worth 0 point. Intelligent/partial responses are usually worth more than zero points…so don’t skip anything. Good luck!
Questions 1-5 (5 Points Each):

1. There are four overarching strategies that focus on the marketing mix:
   a. Customer excellence
   b. Operational excellence
   c. Product excellence
   d. Locational excellence
   i. Which of these four strategies is MOST used by Vessi?
   ii. Explain your answer. Provide examples. (200 words)
2. Refer to the 4E framework for social media and the five steps to a social media campaign. Thinking about Vessi:
   a. Describe a (hypothetical but realistic) business goal
   b. Describe your target audience for this goal
   c. Describe a social media campaign (what would you do to accomplish this goal and where in social media would you do it?)
   d. Describe how you would measure the success of the campaign. (300 words)
3. Come up with and describe a (hypothetical but realistic) ethical business decision Vessi might have to make. Which of the ethical decision-making metrics/tests (this is not the same as the ethical framework) would you use to help make the decision? Why? (200 words)
4. Think about the consumer decision making process and how it relates to your Vessi’s product. Refer to the “Factors Influencing the Consumer Decision Process” in the text.
   a. Identify and describe exactly three specific factors that you think have the most influence your consumer’s decision making (as it relates to Vessi’s product). Justify each response.
   b. What can Vessi do (from a marketing perspective) to take advantage of or mitigate the three factors you identified? Apply course concepts. (600 words)
5. Consider Vessi’s product in the global marketplace and refer to the “Assessing Global Markets” section in the text.
   a. Pick three specific components of a “country market assessment” that you think would be of the most concern to Vessi. Identify and describe these components and explain why you think they are the most important to consider. (200 words)