High Hopes at Miracle-Gro in The Medical Marijuana Field
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Dana Mattioli authored High Hopes at Miracle-Gro in Medical Marijuana Field in a published WSJ.com article of June 14, 2011. The article describes a new exploration venue undertaken by Scotts Miracle-Gro Co., to expand its market into the medical marijuana field. The company aims to increase its revenues by diversifying its target market as a result of the recent legalization of medical marijuana in several states.
The main characters in this article include Scotts Miracle-Gro Co. who is venturing into the medical marijuana field with Miracle-Gro products. Centennial Seed Co. and General Cannabis Inc. are also mentioned as companies that support the medical marijuana field. These new niche marketing strategies are supported with data…show more content… The product itself does not necessarily need to be changed as its purpose will be identical in the new market. However, the product’s packaging, advertising, image, and distribution channels will need to be redesigned and managed differently. Mostly, Scotts will need to be able to convince its new target market of its product’s benefits and value, to generate sales.
Scotts is entering an extremely controversial market of semi-legal marijuana. According to the article, only sixteen states approved laws to legalize marijuana for medical reasons. 68% of the U.S. states have not legalized marijuana and still disapprove of its use. Scotts will need to pursue a unique public relations strategy to address such potential concerns about growing marijuana. Scotts will need to build an awareness and credibility to its product and promote its benefits in the new market. It will carefully need to choose its messages and vehicles to deliver them. Its communication mix will have to defend the product in the new market and advocate the medical benefits it will create and generate.
Like Scotts, several other companies could benefit from the growth in the medical marijuana industry. These may be companies that create products that assist with marijuana growth such as seed, sprinkler systems, hot house builders, and lighting. Additionally, companies that assist with packaging, delivery, and shipping