(This story first appeared in the November-December issue of MJBizMagazine.)
A strong brand can give companies name recognition and longevity – a key consideration for marijuana companies as they expand into states with newly regulated markets.
Businesses undergo rebranding for myriad reasons, but getting it right is challenging, said Elizabeth Corbett, vice president of sales at AE Global, a Florida-based packaging solutions company that helps cannabis operators with rebranding.
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Corbett said companies rebrand for four main reasons:
They’re repositioning the brand to better reflect its spirit and identity. The brand has become stale and needs a refresh. The product has changed in terms of its ingredients, efficacy or characteristics. The company is addressing sustainability – either through the product itself or its packaging, which can significantly change the look and feel of a brand.
“As the cannabis industry becomes more mature, particularly in states
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