The cigarette industry is a multi-million dollar one despite the fact that sales of cigarettes in Canada have been dropping annually in Canada since 1980. [1] Cigarette company, “Lucky Strike”, has sold 10 billion more packs of cigarettes since it has aired on the television show “Mad Men”. [2] However, this industry looks to be collapsing with the popularization of electronic-cigarettes.
“E-cigs”, are electronic cigarettes designed to help people quit or reduce their smoking by mimicking the same “deep inhaling” sensation without the additional additives. Additional benefits over cigarettes include a cheaper price and being permitted for use where cigarettes are not. Using these qualities as their value proposition, the industry is now a major threat to cigarette companies, with sales estimated to exceed 1 billion dollars in 2013. [3] With the development of a product that has the potential to replace cigarettes, there are questions regarding opportunities in the market. From my research, I believe that a company which is able to simplify the components of electronic cigarettes would be popular. In addition, they could utilize the internet to create an easily-accessible method to purchase their product, something which is hard to come by currently.
Original Article : The Economist
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[1] Health Canada
[2] The Daily Mail
[3] Forbes
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