The cannabis industry has been around in some form or another for several years now, but the past few have been extremely instrumental in developing a new way to market arguably the same product. Many companies have come to light offering new ways to brand their products as well as changing the marketing that has existed in the industry for some time now.
The World Cannabis Congress will gather in New Brunswick next week to discuss how to continue marketing cannabis as well as the legality of doing just that. The cannabis industry is still difficult to work with at least in the U.S. given the federal status of the drug. As far as the federal government is concerned, cannabis is a Schedule I narcotic, meaning that it has no potential for medicinal use as well as a high rate of addiction. Both of these claims have been refuted across the board by various scientific journals and new research coming from around the world. Despite this, it is still very difficult to gain legal access to researching the substance throughout the country, but it does appear that this is changing in the current day.
The meeting will also discuss how to brand Health Canada in a single uniform way so that it can continue to be recognizable to the greater public. This is extremely important as the marketing of anything can lead to a changed perception from those who view it. Ray Gracewood, the chief operating officer for Organigram, stated that “we have to find creative ways to make our product and differentiate ourselves while remaining within the regulations.” He continued to state that “Without the opportunity to develop a brand that’s targeted in a responsible way to responsible adults, it allows the industry to be exposed to the illicit market and the continued growth of the illicit market where brands do exist and amazing packaging does exist,” he said.
One of the most exciting aspects of the market is the potential legalization of recreational cannabis throughout Canada in the coming weeks. Canada is scheduled to vote for a third and final time on whether or not cannabis should be legal for adult use, and most are expecting it to go in favor of the cannabis world. This will change the whole market, and will likely impact how these products are marketed and displayed to the world. Gracewood continued to state that “I don’t think that is the intention, but there is a good chance that may become the end result.” This is in relation to the difficulty of following the massive regulations in a legal way and not attempting to find loopholes in the existing legislation.
One of the new tactics to this marketing has become bringing on famous personalities to help change the face of the market. The company Invictus MD recently brought on the KISS co-founder Gene Simmons as a “chief evangelist officer” as well as an investor. This is mostly a PR stunt, but it has appeared to work.
Derek Riedle, the publisher of the cannabis culture magazine known as “Civilized” stated that “a brand is something we can talk about here in Canada but there are remarkable differences between the way Canadian and American companies need to behave in those marketplaces. It is not just within the Canadian context.”
Given that the market is so new, there is undoubtedly a whole industry that is forming on how to market these products in a new way. The hopes are high that these new attempts at marketing will continue to shape the paradigm of the industry into something positive.
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