Bengal Capital’s newsletter weighs in on how consumers discover and settle on their favorite brands:
The affinity for brands doesn’t begin or end in a vacuum. Customers pick brands on a relative basis once they’ve tried other products in that category. Very few people decided to fall in love with a Porsche without first subconsciously comparing it to the many experiences they had driving other cars…
Building brand affinity among consumers who are new to the product is extraordinarily difficult when they have nothing in their internal database to compare it to. Oftentimes, even if the interaction with the product was delightful, it emboldens the customer to try other types in order to experience more of that category. Eventually, they may come back around to the first brand that they enjoyed but it’s often a long and circuitous path. “Brands” in cannabis will eventually be a huge business – the way that we get there will be highly unconventional.
- There was a bit of a…dust-up over Canna Bumps, a THC product designed to resemble powdered cocaine. In Leafly, Bruce Barcott calls it “very not fucking funny.”