Since the legalization of medical and recreational marijuana in several states in America, a number of small businesses have seized this opportunity to create products and services in this relatively foreign industry. In the article I read, it focuses on a company owned by Garett Fortune called “Funksac,” which produces odor-proof and child-resistant bags specifically for putting marijuana in. Dispensaries at 17 of the 22 marijuana-legal states have placed orders for the product, showing how highly demanded it is. Fortune took initiative to start this company because the Cannabis industry is largely reign by small companies due to the fact that marijuana is only recently legalized, there is still a stigma associated with the drug (which discourages big companies to link themselves with it) and the legality of marijuana varies from state to state (preventing large nation-wide companies to take part). Relating to what we learned about positioning and value propositions in Class 8, since there is less competition in this industry as of now, it is easier for small companies to establish their products and actually be able to position their company to be number one on the “ladder” in the minds of consumers.

FunkSac Bags

Original Article (image retrieved from the original article website as well)