Is Cannabis Finally on a Roll?
ARTICLE: Is Cannabis Finally on a Roll?
By Brendan Christie
Published in Strategy Magazine (Winter 2023)
There are five (5) questions below. Each question contains multiple parts. Read each question carefully before answering. Do not miss an opportunity to earn grades by going too quickly and failing to answer the whole question.
Question 1: (Chapter 4: Customer Behaviour)
The general model of customer experience includes five steps and can be applied to any exchange. Imagine the stages of the customer experience for this new cannabis brand and – in your very detailed answer – take me through each of the five stages of the buyer decision process as outlined in your text. Pay attention to detail and key concepts at each stage and include information designed to help understand their experience. (Total: 25 marks = 5 marks for each stage)
Question 2: (Chapter 4: Customer Behaviour)
What key influences will likely impact the purchase? Consider contextual, social and individual influences when answering this question. (Total: 9 marks = 3 marks for each influence category)
Question 3: (Chapter 5: Marketing Research)
In marketing research, managers must collect information relevant to their marketing decisions.
What data (information) would you suggest collecting about the current cannabis market in Northern Ontario that would help you decide on a market segment to target for this new cannabis brand? Is it qualitative or quantitative research (or both)?
What data would you suggest collecting about the current cannabis market in Northern Ontario that would help you decide on product decisions (differentiation/unique selling proposition) for this new brand?
What key sources would you use to gather this data and why (primary or secondary research)? Be specific and strategic with your answers. (Total: 16 marks = 6 marks for each data question + 4 marks for data source question)
Question 4: (Chapter 6: Segmentation, Targeting and Positioning)
Success of this brand will depend on correct segmentation of the market. Using the six step segmentation process (and demonstrating your work at each step).
Arrive at a segment profile for one ideal segment group for the new cannabis brand, keeping in mind two criteria: attractiveness of the segment and the goals and resources of the company. (Total: 15 marks = 2 marks for each step + 3 marks for complete segment profile)
Question 5: (Chapter 6: Segmentation, Targeting and Positioning)
For the final requirement of this assignment, arrive at a unique selling proposition for this new cannabis brand. Provide the new cannabis brand with a name (it cannot be an existing name in any market) and provide the positioning statement for the new brand that contains the four components discussed in Chapter 6. (Total: 15 marks = 3 marks for name, 8 marks for positioning statement, 4 marks for creativity)
