In our internet-run world, niche markets have been quite successful. Whether it is Ben & Jerry’s ice cream or Kind’s health bars, niche markets have become household names and easily recognizable. As this has worked wonderfully for companies that deal in niches, like ice cream, coffee, tea, beer, and even health foods, we have to wonder why the cannabis industry has not gone in this direction yet.
Since cannabis is only legal in Canada and not in the U.S. on a federal level, the market has not been oversaturated at this point. That means that the product is still limited to where you can find it. It is a controlled market. For that reason, there is still a marketing opportunity at hand. Instead of making cannabis so incredibly accessible that anyone could buy it from any store, the industry needs to lock down its uniqueness before it is swallowed up by big pharma and the business world.
The current cannabis market has a rare opportunity. Larger U.S.-based companies, such as Johnson & Johnson or Procter & Gamble, do not have the ability to tap into the new cannabis industry. The industry at this point has been working together, cooperating on various levels, moving toward a common goal. Without the major influence of big business, the cannabis industry has remained under control up to this point.
If the American government does legalize it in the future, the American companies will have to deal with the industry on the industry’s terms. Since it is still new and growing, the cannabis industry has the ability to decide how it looks and operates. Then, if it is legalized, other companies will not be able to just take the reins and take over. They will have to fit with the status quo. As long as the industry stays together, they will succeed.2 months ago