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Legal Pot Could Be Next Move for Marlboro Maker

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Legal Pot Could Be Next Move for Marlboro Maker

The maker of Marlboro cigarettes is going to join some of the largest names in beer to explore the budding cannabis marketplace. Altria Group Inc., which currently owns Philip Morris USA, is known to be the latest big company that is showing interest in marijuana. Canadian medical marijuana company named Cronos Group Inc. has confirmed the ongoing talks with Altria regarding a possible investment, as per the report by AP. Altria, which is based in Richmond, Va., is known to be one of the largest cigarette makers in whole of the United States. The company has said it had no comment on announcement of Cronos. Altria has joined beverage makers such as Heineken, Molson Coors, Constellation Brands, which have already made announcement about moves in the cannabis space.

Other huge companies such as Anheuser-Busch, Pepsi, Coca-Cola and Guinness brewer Diageo have not yet acted on it, but have told that they are watching closely as the market for marijuana as well as its extracts evolves. The cannabis market is likely to grow rapidly as legalization expands in the United States and social norms are likely to change. On Tuesday, conservative Utah became the newest state that has legalized marijuana for medical purposes. Consumers are expected to spend almost $57 bn per year worldwide on legal cannabis by the year 2027, as per the Arcview Market Research, a cannabis-focused investment firm. In North America, that spending is likely to grow from $9.2 bn in 2017 to $47.3 bn in the year 2027.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Report Shows Disney Dethrones Apple as the Most Intimate Brand in the World

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Every year MBLM does a Brand Intimacy Study to find which brands customers are most loyal to. It is the largest study of its kind, surveying 6,000 consumers. Participants are asked questions about which brands they use regularly, how they feel about those brands, and if they feel that they could live without the brands’ products.

This year, Disney managed to top Apple for the first time ever. Other brands in the top ten list included Amazon, Chevrolet, Netflix, Harley Davidson, Playstation, and YouTube. To see all of the details, you can download the full Brand Intimacy Study on MBLM’s website.

It’s not surprising that Disney has built such a strong following. With the Avengers and the Marvel Universe rocking the box office, related merchandise, shows, and events are drawing in record-breaking crowds. And, this is only the cherry on top of the Disney empire.

Disney has been a household name for generations. From Mickey Mouse to Disneyland to the Disney Channel to Star Wars and on and on. Disney has been on a solid growth trajectory for years and there’s no end in sight. Part of the reason that Disney is so successful is that it prioritized its relationship with consumers.

Brand intimacy has a significant impact on a company’s ability to survive and thrive.

According to MBLM’s Brand Intimacy Study, building brand intimacy creates price resilience and builds customer loyalty.

According to Digital Authority Partners, when consumers feel a bond with a brand, they are willing to pay more for their product than the product of a competitor. MBLM says that many of these consumers are willing to pay up to 20% more.

This willingness stems from an emotion-centered marketing strategy. For Disney in particular, nostalgia plays a big part in their marketing campaigns. The longevity of the brand has allowed for devoted consumers to pass their favorite movies or toys on to their children through multiple generations. The desire to purchase a product is pursued by a child and a parent.

The ability to pass on this brand intimacy to the next generation is made possible by a willingness to keep up with new technology. If Disney still produced the same sketch-cartoons of Steamboat Willie, the company would have died out decades ago. However, Disney is always looking for ways to stay in the spotlight.

A great example of this is Disney’s upcoming streaming service, Disney+.

The way that we view movies and TV shows is changing. Streaming services like Netflix and Hulu have paved the way for others. Disney, seeing this opportunity, has opted to remove their content from these streaming services so that they can remain exclusive to their own service.

Judging by the results of the Brand Intimacy Study, this will be a successful venture.

With big brands like Disney or Amazon, it can be extremely difficult to build a name for yourself as an emerging business. But, brand intimacy may be the answer to this problem.

It’s not enough anymore to have a good product. It’s so easy for another, bigger company to come along and start selling a similar product–and they already have the customer loyalty to back it up.

One great way for businesses to differentiate is to start building that emotional attachment with their customers by adopting a data-driven marketing approach. Business can build a connection by gauging customers’ interests with regards to what matter the most to them.

One strategy that has been leveraged more and more in recent years is the practice of giving back to a cause that a company’s target audience is passionate about. That is in line with recent report findings which show that Generation Z (young people aged 16 to 30) are particularly interested in giving back to the community according to a recent study.

To that effect, for example, Kool8, a company in Chicago that produces water bottles, has put in place a very clear give-back policy for their products. For every bottle that is sold, 20% of the profit will go towards providing clean drinking water for underprivileged areas of the world.

Another example is the Tiesta Tea Foundation. They work to support people in economic hardship, raise awareness and acceptance for people with special needs or disabilities, and also work to bring clean drinking water to developing countries.

These businesses go above and beyond distributing their product to help others in need and build brand intimacy. By working to solve problems that consumers care about, they earn their business and their loyalty. These tactics create an emotional bond with the product that the consumer would not typically feel with a new business or product.

Focusing on brand intimacy is a new norm for successful businesses. We’ve seen the success of a good brand intimacy building campaign from Disney, and you can bet that they are not going anywhere any time soon.

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