"People should be able to make an informed choice about what they consume, especially when it has a potential therapeutic benefit." - Lara Fordis
Knowing your target market is the first step in every successful business.
In this episode, Lara Fordis, a consumer market research consultant specializing in insights related to CPG and the cannabis industry, discusses how to navigate market research for small and large businesses.
With 25 years of experience in the cannabis industry, Lara provides tips on ensuring accuracy with qualitative and quantitative data. She also shares insights into the importance of considering point-of-sale data when conducting market research and how it can be inaccurate due to people buying for others or not considering invisible shoppers. Lara also emphasizes that low-dose edibles can help people have a good experience with cannabis without worrying about getting too high and the potential therapeutic benefits that cannabis offers. Finally, she provides an overview of the trends in sales data across different states regarding motivations for using cannabis, such as pain management or avoiding opioids.
Tune into this episode to learn more about conducting informed market research for businesses in the cannabis industry!
[00:00 - 09:13] Navigating Consumer Market Research in the Cannabis Industry
[09:14 - 15:56] Uncovering the Nuances of Market Research
[15:57 - 24:37] Exploring the Benefits of Working with Bud Tenders
[24:38 - 31:43] Understanding the Challenges of Conducting Cannabis Market Research
[31:44 - 42:15] How to Safely Introduce the Canna-Curious to Microdosing and Low-Dose Alternatives
[42:16 - 56:02] Examining State-by-State Variations in Motivations for Trying Cannabis
Lara Fordis, founder of Fordis Consulting, is a renowned market research expert and consultant specializing in consumer insights and data-driven decision-making. With over 20 years of experience in the field, Lara excels in designing and executing cost-effective solutions that enhance various aspects of business, from product development to marketing and brand optimization. She possesses a unique blend of qualitative and quantitative research expertise, allowing her to deliver comprehensive and impactful strategies to her clients.
Connect with Lara!
Go to www.FordisConsulting.com
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