DENVER, CO, January 25, 2014 /24-7PressRelease/
-- Colorado's legalization of the recreational use and sale of marijuana has sparked a new market for products and services that cater to this developing industry. Being one of the fastest-growing and most lucrative industries, the cannabis market is currently valued at approximately $1.4 billion and is anticipated to grow by 64% in 2014, according to market research by The ArcView Group. Like any industry, marijuana needs marketing and advertising -- which is still being tightly regulated by the government, but just enough, so that creatives and business gurus can still carve their own niche in this controversial market.
One of Colorado's first recreational cannabis marketing agencies, Cannabrand
, is meeting the needs of this high-demand market. Located in downtown Denver, the founders of Cannabrand are turning their passion about the legalization of marijuana into a business dedicated to helping marijuana shops and companies brand themselves.
Co-founders Olivia Mannix and Jennifer DeFalco site that the growing market is going to create competition amongst marijuana brands, who must differentiate themselves from the pack.
"Right now there is a sort of 'green rush' going on here in Colorado. Dispensaries are doing extremely well, and this is encouraging others to get involved with the cannabis industry. With growing competition, it is crucial that the businesses each have their own solid brand identity that they own and that is recognizable, which they can then communicate to the public in a meaningful way," says DeFalco.
"We also see that there is a huge opportunity to appeal to a broader demographic, and we're working to get rid of the stigma that still accompanies marijuana consumption," adds Mannix. "Considering the rec industry is at its 'budding point,' making the best decisions regarding branding and marketing right off the bat are crucial to the success of your company."
Cannabrand says that they offer marketing services to veteran marijuana businesses as well as newcomers and 'ganjapreneurs.' They incorporate 'neo-marketing' and branding tactics that are in line with the laws and regulations of marijuana in regard to packaging, advertising and marketing in Colorado.
Cannabrand plans to continue spreading awareness about cannabis consumption and are journaling on their blog: TheCannaBuzz.com.
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