Competition is the force that keeps all businesses going. It ensures every business owner remains on their toes so that they are not outshined by the competition. For a business to remain at the top, its owners must always come up with ways to be better in their industries. This way, customers will prefer their products or services at all times. Implementing necessary strategies, however, does not come cheaply. Regardless, every business owner should be ready to invest whatever amount is required as this will highly determine their relevance in the market. The cannabis business is no exception to all of this. Competition, in this case, is very serious because there are legal and black markets. The black market offers low prices because there are fewer government regulations in comparison to legal dealers. This is a very enticing feature and it creates a disadvantage for legal dealers. To ensure that they remain at the top, below are some ways by which legal cannabis dealers can beat their black market competitors:
Rewarding customers – it is possible for a legal dealer to reward customers because they are interested in more than just making profits. This cannot be done in the black market because their main interest has everything to do with making money and this is why they do it in secret. Legal cannabis dealers can take advantage of this by offering rewards so that customers feel appreciated. For instance, they can offer discounts to loyal customers or offer free additional cannabis products. This is can convince the customers to stick around for a longer period of time.
Giving back to the community – this is a good way for cannabis dealers to show the community that they are interested in its growth. Again, this is an activity that black market dealers cannot engage in. This is because they cannot expose their illegal activities to the entire world. An opportunity is therefore created for legal cannabis dealers that involves undertaking activities such as visiting senior care home services and donating money to the less fortunate community members.
Engaging medical professionals – these professionals will help give prescriptions in terms of how to use various cannabis products. In case of any clarifications, customers will have a platform to receive feedback. They will also get a chance to understand the way forward after experiencing some uncomfortable side effects. This is not available in the black market because customers at times do not contact dealers directly.
Advertising – this involves creating awareness of the existence of various cannabis products. It is possible for legal dealers to air advertisements on platforms such as televisions and social media without fear of being arrested. Seeing that the black market traders cannot afford to be identified, those dealing with legal cannabis obtain a competitive edge.
Legal cannabis dealers should do whatever is necessary so as to attract more business than their black market competitors. The most apparent advantage they possess is their ability to operate transparently with no fear.
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