Challenges in Branding of Cannabis Edibles in Canada
Edibles Cannabis is food products made from cannabis extracts. Cannabis products include but not limited to food stuff and drinks. These products can be homemade or commercially prepared and retailed. Some examples are beverages such as water, juice, baked goods, candies, oils to name a few. These products have only been legalized in a handful of state and they have potential to grow rapidly in the next decade. It is for this reason that we need to develop appropriate marketing strategy.
With a better strategy, sellers can vary their products through marketing, branding and pricing strategies. In pricing strategy, commercial cannabis agents should be focused on generating revenue and ultimately profit for from their merchandise and should ensure they have competitive advantage over their competitors. The pricing should be informed by pricing market analysis. This will help to increasing visibility. The pricing will be arrived at based on cost of service delivery, gross margin objectives and market prices of competitors.
Commercial cannabis entities should use the market penetration pricing strategy to gain market early share in this emerging industry. You capitalize on cut-throat competition in unregulated economy of cannabis edibles. Discount pricing and service promotion will help increase traffic and attracting new customers while maintaining the old clients.
Reportedly, there have been several tragic incidents of cannabis intoxication in Canada. You could assume such are due to little consumer information and work on an awareness consumer program. For instance, there is need to increase cannabis pediatric exposure. Also, you can introduce stricter packaging and labelling of your products. It would be important to have clear warning on delayed and intoxicating effects, as well as potential health risks on the packaging materials. The ingredient list should be clearly printed and active THC and a unique ID or batch number for every edible product
Cannabis edible market is very new requiring aggressive marketing. Since this is a new field, there is need for customer service wing geared towards bringing on board new clients. Proactive sales representatives with branded merchandise need to be operationalized. The salesmen need to stay in touch with its clients by participating in their events.
For you to excel in this industry there is need for advertising and promotion activities and strategy. The commercial entity will require some collateral. A website needs to be opened and used as often as possible. Again, the site needs to be reviewed consistently and should serve as an information center and as a focal point for marketing and product promotion
You should also try active social media platforms such facebook and twitter accounts. These accounts should outline standard of safety edible cannabis. There should be a clear list of cannabis species and susceptible to infection by host of contaminants. The business entity should outline rigorous testing procedures subjected to edible cannabis.
Also, it is important to specify possible side effects of the cannabis being marketed or promoted with clear details of bio data of expected users
All in all, to archive these set targets, a lot of resources are required and marketing skills. Most organizations venturing on edible cannabis have not invested on organizational development of their organizations HighTHC Such corporates should also invest on mobilization of regulatory bodies to do their work for the industry to work properly.