The slogan, “This Bud's for You” may already be claimed, but that isn't stopping advertising executives from dreaming about getting in on the burgeoning sales of legal medical and recreational marijuana – an industry estimated to already be generating revenues in the billions of dollars.
With medical marijuana sales legal
in 20 states and the District of Columbia, and with Colorado and
Washington legalizing recreational cannabis use for adults as of this
year, many advertisers and marketers are honing their skills and
preparing for a universally legal pot market.
Indeed, some industry observers say
“stoner”-focused advertising is already here. Fast-food chain
Taco Bell, a division of restaurant giant Yum! Brands (YUM), advertises
its “fourth meal”menu to young consumers with the slogan,
“you're out, you're hungry.” It also has a jingle
that sings the praises of tending to your “late night munchies.”
Some marijuana entrepreneurs, like
former Microsoft (MSFT) executive Jamen
Shively are even establishing their own
brands of cannabis in hopes of cashing on the growing business.
advertising of cannabis products “is
going to happen quicker than you think,” said Greg Wagner, a former long-time ad executive who is
now a lecturer and internship director in
the marketing department at the University of Denver's Daniels
College of Business.
believes the ad agencies are already working on how to counter the
negative “Reefer Madness” and “Cheech & Chong”
stereotypes of cannabis and its users.
is baggage there,” he said. “But if you think about it, there was
probably baggage back in the Prohibition days, when [alcohol] became
legal again.” Continue Reading....
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