Why some marijuana firms are rebranding in response to cannabis industry’s changing business climate
The cannabis industry has moved to shed the “stoner” stereotype many have held of its consumers
Several marijuana businesses are rebranding themselves via name changes and other steps to try to reflect the companies they’ve become.
Whether the decision revolves around an initial public offering (IPO), including Akerna’s, or the acquisition of multiple dispensaries such as Cresco Labs, many companies are working toward creating a unified, professional brand.
Bill Winchester, president and chief creative officer of marketing firm Lindsay, Stone & Briggs, which has offices in Madison, Wisconsin, and Minneapolis, said the following are other potential reasons a marijuana firm might rebrand:
- It has launched new and different services.
- The competitive landscape in the industry has shifted, and it wants its brand to reflect those changes.
- It wants to stress the growing professionalism surrounding the marijuana industry.
“The industry is changing and sort of going from possibly something that’s sort of way recreational and goofy to something that’s a little more serious and medicinal,” Winchester said.
Read the full article at Marijuana Business Daily