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Canadian LPs Introduce Marketing Guidelines for Cannabis
Author: Bryan Mc Govern 09/11/2017 - 00:05:00

After banding together to ask for guidelines on the marketing of cannabis in Canada, a group of Canada’s top licensing producers (LPs) have now introduced their recommendations for the rules of branding and promotion of cannabis. 

Developed in partnership with the Canadian Medical Cannabis Council and Cannabis Canada Association, both representing 27 LPs combined, the official “Adult Use Cannabis Advertising and Marketing Guidelines for Licensed Producers,” has recommended its adoption by the federal government when cannabis becomes fully legalized next year. 

The guidelines, according to the announcement, will allow any  LP to “explain” why their product is developed in a safer environment than what is available on the black market.

 

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Coalition of LPs has 18 active members

The group of LPs that jointly announced the plan in July to develop these guidelines include Aphria (TSX:APH), Canopy (TSX:WEED), OrganiGram (TSXV:OGI), The Hydropothecary Corporation (TSXV:THCX).

With a few additions since the last announcement, the partnership has become strong enough, now with 18 members, to get its own official name: the Coalition for Responsible Cannabis Branding.

“The agreement to develop guidelines builds on the advocacy efforts of participating Licensed Producers, and their respective Associations,” the announcement said.

“If adopted by the federal government, we believe these guidelines will help ensure that the legal industry can effectively compete against the illicit market,” Cameron Bishop, co-chair of the Coalition for Responsible Cannabis Branding said in the statement.

Five main principles part of the recommended guidelines

One of the main takeaways from the recommended guidelines includes the ruling that marketing from LPs won’t target people under 18 as potential consumers.

“Marketing by LPs will only promote brand preference, and will not attempt to influence adult non-consumers of psychoactive cannabis products to become consumers,” one of the five principles put forward by the coalition indicated.

The guidelines also include “media restrictions,” which says any given LP will only show their advertisements on TV, radio, and websites or social media platforms where 70 percent of the audience must be over 18.

The announcement further states these guidelines have been shared with government officials throughout various levels of the federal government in charge of the cannabis sector. However, the group warns this does not meet an official endorsement, yet.

The guidelines also encourage complaints in the case one LP breaks these self-imposed rules. “Complaints will be handled by Ad Standards and adjudicated by the independent Standards Council,” the document indicated.

Don’t forget to follow us @INN_LifeScience and @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

 

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The post Canadian LPs Introduce Marketing Guidelines for Cannabis appeared first on Investing News Network.

Original article from investingnews.com:Canadian LPs Introduce Marketing Guidelines for Cannabis


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