Cannabis Market Research
In order to effectively market to your target audience, it’s vital you first learn all that you can about what they think of your product or service. Their motivations, their reservations, their concerns, etc. We’ve found that one of the best ways to do this is...
It’s a little early to tell if October 17th will become a national holiday in Canada, but it’s still a day for celebration. As we congratulate Canada as the first industrialized nation to legalize cannabis as they did a year ago, we want to share some of our insights...
Picture the scene… It is CannaCon, a respectable B2B cannabis industry tradeshow in Denver, Colorado. I am walking and talking with Morgan, at the time President of the MJBA, later Founder and CEO of the Cannabis Women’s Alliance. We were discussing what topics we should discuss on an upcoming panel about the role of women in the cannabis industry we were both participating in that afternoon. All of a sudden, we both stop in our tracks at the sight of a nearly naked, black leather thong and biker jacket clad woman appearing to sit on some heavy machinery.
In two national surveys designed to uncover American attitudes toward cannabis, legalization and development of cannabis brands, we uncovered a unique subculture of Americans who strongly support legalizing recreational-use marijuana, but do not expect to purchase...
During our market research on consumer motivations in cannabis brand attribute preference, we have consistently seen four segments emerge among consumers, who we call “Traditionalists,” “Outsiders,” “Indies” and “Idealists.” Of these four, “Indies” and “Outsiders” are the most likely to patronize cannabis brands on a regular basis.
Today we’re going to take a closer look at the Indies, who have increased by 15% since 2014. They currently make up about 26% of the population, and about 31% in California.
Nearly three years ago we launched our first study. Colorado had a legal Adult-Use market operational for less than 6 months. Our home state of Washington had barely begun legal sales. It seems like such a long time ago now but in the short period since then much has...
Once upon a time, not really that long ago, commerce was relatively simple: you made a product and, hopefully, people bought it and you made money. Consumers based their purchase on product utility: did they need it and would they use it? They certainly didn’t give much thought about the company in terms of what it stood for, who was running it, what its religious or political beliefs were, or whether it shared the same values they had. They understood that companies were in business to make and sell products, and people either bought it or didn’t.
It was simple, really.
That’s how it was for decades.
Then, along came the Internet and everything changed.
Before all is said and done, and you’re about to layout a roadmap for your canna brand, I believe there are five rules in building a brand you should know and, hopefully, follow. I’ve listed them in order of importance, as follows, and while the rules are relevant for any-size company, I’ve written them from the perspective of the start-up or smaller company, which we meet more often in this new category.
Whenever I hear a client say, generally with great conviction, “I know my customer,” my heart freezes, because, much too often, it’s related to his own less than objective perceptions, anecdotes from his sales people, or what the spouse says. But, you really cannot build your business on hearsay and assumptions. So, I ask one simple question: When is the last time you talked to your customer?
There is a myriad of negative stereotypes many of those in mainstream culture use to describe marijuana consumers. The truth is, there is no one type of person who smokes or eats or vapes marijuana. Marijuana consumers are an extremely diverse group of people, which can make finding the target audience for your particular marijuana product, that much more difficult.