MJBizMag November-December 2020 - 122

BestPracticesInExtraction | Bart Schaneman
Experts say discerning cannabis
consumers are looking for more than
just potency in their extracted products.
Courtesy Photo
Getting the Best Price
for Extracted Products
Educating budtenders, nailing retail prices and being selective
about store placement are components to netting the most value
O
nce extraction is complete and
finished products are made,
there's still one important step
for cannabis-extraction companies to
execute: Selling their manufactured
goods to consumers.
Marijuana firms looking to sell their
concentrates and infused products for
top dollar should consider:
* Getting samples into the hands of
the right budtenders and making
sure they understand what they're
selling.
* Pricing cannabis extracts and
infused products correctly.
* Placing products with the best
stores-not every store-and in
creative ways.
" The X-factor is getting creative, " said
Case Mandel, founder of Humboldt,
California-based
Cannadips, which
makes tobaccofree,
CBD-infused
pouches. " You
have to create
something
authentic, and you
have to be dynamic. "
Case Mandel
Budtender Strategies
The first point of contact between
product manufacturers and the
consumer is often the budtender.
Getting sales associates to
recommend one brand over another
requires a belief in the product-and
maybe some incentives.
" Getting to those people and
educating them is key, " Mandel said.
122 Marijuana Business Magazine | November-December 2020
Extraction equipment is expensive.
In order to recoup costs, companies
need to sell their products for the
best possible price. Businesses
looking to achieve that goal might
want to consider:
* Offering samples to budtenders and
considering sales rewards to those
who promote the brand.
* Understanding pricing trends in
the market and adjusting costs
accordingly.
* Finding the right stores to sell
products and offering decorations
or other materials to make the
displays attractive.

MJBizMag November-December 2020

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