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Cannabis has been gaining in popularity over the past few years as more and more states legalize both medical and recreational marijuana. Cannabis-based products, including CBD and THC products, are increasingly in demand, as they offer many various therapeutic benefits and a viable organic alternative to opioids. This in turn creates a high demand and opportunity for university students, CPG and Retail sales, marketing, and category management professionals to learn more about cannabis, and to development new specific cannabis knowledge, marketing skills, and retailing expertise. Cannabis focused sales and marketing capabilities will be essential for any business that wants to get into and be successful in this rapidly growing industry. GROWTH The changing regulations across the U.S. and several other countries are also contributing to the growth in the industry. Medical cannabis is now legal in 37 US states, as well as Washington D.C. for medical purposes [2]. The cannabis industry is growing rapidly, with the report from BDSA projecting global cannabis sales to grow from $30 billion in 2021 to $55 billion in 2026, a compound annual growth rate (CAGR) of almost 13% [1]. This growth is expected to continue in the coming years, as seen from U.S. Cannabis Market Report Scope which projects revenue of USD $40 billion and a CAGR of 14.9% from 2022 to 2030 [3]. With the increasing acceptance of cannabis use and the growing regulations, the cannabis industry is expected to continue to grow in the coming years. In addition, see resources compiled by the American Cannabis Society for an up-to-date compilation of dispensary statistics for 2023, including cannabis market growth, marijuana usage statistics, and more [2]. OPPORTUNITY As the popularity of cannabis-based products continues to grow, it is important for businesses to understand the distinctions of cannabis marketing to be successful. Cannabis marketing requires specialized knowledge, including understanding the different types of products available, the legal implications of using cannabis, and retailing the product, for all the different customer segments that exist. Many people don’t realize that there are two species of Cannabis and many differences in the benefits and effects of various Cannabinoids. For example: CBD (cannabidiol) is a non-psychoactive, therapeutic compound found in the cannabis plant that can be used to treat a variety of medical conditions, such as pain, inflammation, and anxiety. CBD products are becoming increasingly popular due to their health benefits, and no intoxicating effects. CBD products come in a variety of forms, including tinctures, oils, capsules, and edibles. THC (tetrahydrocannabinol) is the psychoactive compound found in the cannabis plant, and it is responsible for producing the “high” often associated with smoking marijuana. Many people are now turning to THC products to help with medical conditions, such as chronic pain, muscle spasms, and appetite loss. THC products come in a variety of forms, including edibles, oils, tinctures, and topicals. By understanding the nuances of cannabis marketing, businesses can effectively reach their target customer base and create an engaging shopping experience. UNIVERSITY-BASED TRAINING & CERTIFICATION Consumer package goods companies, grocery retailers, and dispensary stores can benefit significantly from investing in online training and certification for their sales, marketing, and category management teams. By providing your teams with specialized cannabis training and certification, you can equip them to better handle customer demands, stay on top of the latest industry trends and practices, and drive more sales. Investing in Western Michigan University’s (#WMU) Food Marketing Online Cannabis Marketing Certification (CMC) training program is a smart and great way for companies to stay informed and to be competitive in a rapidly changing industry. By staying abreast of the latest trends and practices, companies can ensure that they are able to respond to the changing needs of their customer base and remain a leader in the marketplace. The expertise and knowledge that the teams acquire through this online training and certification program can be used to develop more customer-centric strategies and tactics, allowing companies to better serve the needs of their customers and build loyalty. The program provides teams with specific cannabis knowledge and skills that companies can use to better manage their categories, and to ensure that they are equipped to develop the most competitive product mix and pricing strategies, to increase profitability. Earning a WMU Cannabis Marketing Certification offers several benefits to those looking to advance their career, and get even higher in this growing industry. Benefits include: 1. Increased Knowledge: A WMU Cannabis Marketing Certification will provide you with a comprehensive understanding of the principles, techniques, and strategies of cannabis marketing. This enhanced knowledge base will equip you with the tools necessary to develop effective marketing plans and strategies. 2. Professional Credibility: A WMU Cannabis Marketing Certification can help you establish yourself as a knowledgeable, experienced, and certified professional in this field. This can lead to increased opportunities and better job prospects in the cannabis marketing industry. 3. Industry Connections: Earning a WMU Cannabis Marketing Certification can open the door to a wealth of valuable industry contacts and job opportunities. Through your training, you can build relationships with other professionals in the cannabis marketing space, which can be invaluable for career advancement and networking opportunities. A key factor for suppliers in growing sales and revenue is to have strong relationships with retailers and distributors, and leverage their data and insights to create better products, pricing strategies, and promotions. Companies seeking to capitalize on cannabis and cannabis-based products must develop talent, capabilities and strategies that make use of modern tools and techniques to optimize sales and increase profits. Take a holistic approach to your sales, marketing and growth by empowering your teams with online training and certification. You can maximize your sales and profits while providing employees and partners an outstanding learning experience. If you interested in pre-registration prior to 4/20 launch please contact sales@learningevolution.com - Or to learn more about partnering and sponsorship opportunities you can contact me direct at smatthews@learningevolution.com References: [1] A New Report Sheds Light On Cannabis Industry Growth [2] Cannabis Industry Statistics for 2023 - Flowhub [3] U.S. Cannabis Market Size, Share, Industry Report, 2030 |