For the last seven years, we’ve seen the expansive rise of the CBD oil industry to the point where the industry is now worth that of just under 22 billion dollars. This rise has in part been attributed to the ever-increasing amount of consumer demand that has occurred over this period. Coinciding with the promotion of CBD based oil products by celebrities and celebrity social influencers. As such, CBD products have reached the height and power that no one would ever think that was possible for them. the fact that you are now able to go into town and visit a CBD oil store and purchase see all products is mesmerizing to some people as it just did not seem possible going back even 10 or 15 years ago. Though such a rapid rise comes with problems in that a lot of people want a slice of the pie this is meant increased competition for competitors and manufacturers and as such, they had to differentiate products in order to maintain market share. Therefore this article tackles why CBD oil brands have been successful and why top brands of CBD work?
The best brands work because they do not compromise on price
In any business price is an important Factor but none more than that of the CBD oil industry. This is down to the fact that the industry is so saturated at the moment with products and the only way of differentiating between similar CBD oils is that of the price. This has resulted in CBD oil product brands slashing prices in order to undercut competitors and stay ahead of their competition. However, this can mean that the manufacturer will receive fewer profits and a decreased amount of revenue as a result of the constant price wars. The only person that benefits from such pricing tactics is the consumer whereby they are ensured to get value for money when it comes to purchasing any CBD oil products.
The brand values quality as an important aspect of their products
Having a brand that values quality is so important in today’s CBD oil industry being able to differentiate its products by saying that the process by which it was made is organic is a great way of starting a brand and ensuring that to you are separate from the Pack. there are other ways to ensure that your product is quality in that even the packaging and look better than other competitors.
They value the consumer and especially those which are loyal to them
Brands have ensured that they have kept consumers buying their product is by means of loyalty systems. these have worked by means of creating and giving points to consumers when purchasing products directly from the manufacturer. these points can then be used to purchase other products from the manufacturer ensuring that the consumer is loyal to that specific CBD Oil brand. This type of marketing helps brands stay ahead of there competitors and also helps to ensure that the brand is constantly consolidating its market share and position.