Recommendation for Canopy Cannabis

This article provides recommendations for Canopy Cannabis to overcome their issues and improve their business. Topics covered include starting with sustainable products, using disruptive pricing, focusing on product quality, entering new markets, viral marketing, and more.

Running head: RECOMMENDATION FOR CANOPY CANNABIS
Recommendation for canopy cannabis
Name of the student:
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1RECOMMENDATION FOR CANOPY CANNABIS
The company named canopy cannabis is facing many issues. To overcome those
issues, the following recommendations need to be follow -
 Canopy cannabis can start their business with minimum sustainable product and then they
can recapitulate by responding to the feedback given by the customers
 They should use a disruptive model of price. Each of them having different objectives.
 They must focus on producing a good quality product so that it can attract existing
customers as well as the future customers and this can be the cause for making a product
less price sensitive
 They can hold a brand which already exists in the current market and tries to enter into a
completely new market. This open up the scope in an economy
 They should take a initiate to start a viral marketing in order to cut down the costs of
marketing for attracting new product sales
 Getting hold of a business which is already being well established in the market
 Hiring of equipment rather than buying the same. It will some space to the retail shop in
order to reduce their fixed costs
Some products can get totally eliminated from the market due to substitute products
since the needs of the customers are fulfilled from the better-featured and innovative products
and services (Duan, Yao & Huo, 2015). To cope up with the threats from external
environment, business organisations must frame such strategies which will act as a counter
attack for their survival.
Product differentiation
By adopting the strategy of product differentiation, products of enhanced features and
innovation can be produced. With a sense of evolutionary, the needs of the customers are
satisfied with differentiating the products. Differentiation may be done in several forms such

2RECOMMENDATION FOR CANOPY CANNABIS
as quality, price, features, reparability, performance and style. The differentiation strategy is
used by most of the firms to survive in this competitive business environment (Davcik &
Sharma, 2015).
Brand Loyalty and Brand Image
Brand image as well as loyalty is the reason of surviving of many companies. In the
long run, qualitative products and services creates brand loyalty brand image. This acts as a
strong link between consumers and the company or the products of the company. Therefore,
by creating a good brand loyalty and brand image, switchovers can be prevented to great
extent (Greve, 2014).
Best value for the money of customers
Switchovers take place since the customers calculate the best value for money. The
organisations must develop such strategies which will help in delivering better goods and
services in order to attain maximum benefits. This can be done by evaluating the expectations
of customers and the strategies adopted by the competitors.
Offers of special benefit
Proving special offers can help organisations in preventing switchovers. The forms of
offers include one plus one offer, discounts, special packages, gifts and trial purchases. By
providing offers, organisations can create value for the products offered by them.
Product usage awareness
Due to the difficulties faced by some customers in using some products, the products
fail in competition with the rival brands. Therefore, awareness about the usage of the
products must be created.

3RECOMMENDATION FOR CANOPY CANNABIS
Relations with customers
Developing a good relation with customers will enable the organisations to solve the
problem of substitutes. Maintaining good relation with customer enable companies to retain
their customers thus preventing switchovers (Hassan, 2015). By maintaining proper
communication and consumer data, companies can better know the product features and
offers. A better relation with customers results to brand loyalty.
The high cost of production is one of the stated weakness which is already mentioned in
the SWOT analysis. This weakness can be overcome and to do the same canopy cannabis
needs to reduce the cost of labour, material, overhead and the amount of investment in the
capital
Inability to differentiate products from the market competitors are another weakness
which is already stated in the SWOT analysis. This also can be overcome by delivering
astonishing services. Addressing the main points of the customers and do the business in such
a way that is different from any of the competitors. They should frequently give attracting
offers.
If canopy cannabis has no competitive advantages, then there is very less economic
reason for them to exist (Urbancova, 2013). The most important goal for any organisation is
to create a sustainable competitive advantage and it may be consider as the most important
single attribute on which each and every firm must have placed its most focus on.

4RECOMMENDATION FOR CANOPY CANNABIS
References
Davcik, N. S., & Sharma, P. (2015). Impact of product differentiation, marketing investments
and brand equity on pricing strategies: A brand level investigation. European Journal
of Marketing, 49(5/6), 760-781.
Duan, Y., Yao, Y., & Huo, J. (2015). Bullwhip effect under substitute products. Journal of
Operations Management, 36, 75-89.
Greve, G. (2014). The moderating effect of customer engagement on the brand image–brand
loyalty relationship. Procedia-Social and Behavioral Sciences, 148, 203-210.
Hassan, R. S., Nawaz, A., Lashari, M. N., & Zafar, F. (2015). Effect of customer relationship
management on customer satisfaction. Procedia Economics and Finance, 23, 563-
567.
Stoa, R. B. (2017). Comparative cannabis: approaches to marijuana agriculture regulation in
the United States and Canada. McGeorge L. Rev., 49, 89.
Urbancova, H. (2013). Competitive advantage achievement through innovation and
knowledge. Journal of Competitiveness, 5(1).