Beskrivning
| Land | Danmark |
|---|---|
| Lista | Spotlight DK |
| Sektor | Hälsovård |
| Industri | Läkemedel & Handel |
Launching 36,000 Units to Test Market Fit and Accelerate Market Penetration at a value of €419,000
CS MEDICA announces an advancement in its expansion strategy with the upcoming launch of CANNASEN® in the Asia-Pacific (APAC) and Middle East/North Africa (MENA) regions. This launch utilizes strong partnerships and a Minimum Viable Product (MVP) approach to establish the CANNASEN® brand.
CS MEDICA will distribute 36,000 units of CANNASEN® to APAC and MENA at a value of €419,000 starting August 2024. This initiative aims to gather consumer insights to perfect product alignment and readiness for new production cycles. This approach is vital in regions characterized by rapid growth, strict regulations, and challenging market penetration.
- Strategic Expansion: Introducing CANNASEN® to the rapidly growing APAC and MENA markets, targeting alternative OTC and CBD-infused products.
- MVP Seeding Launch: Employing online platforms to evaluate market response and refine offerings.
- Go-to-Market Synergies: Facilitating quicker market entry and readiness for new production with a defined pull effect.
- Stock Challenges: Tackling stock issues related to local language, expiry, and regulatory compliance.
- Local Partnerships and Regulatory Adaptation: Enhancing brand visibility and ensuring compliance in regions with stringent regulations and developing markets for products containing CBD, in contrast to the more mature US and EU markets.
New Dual Distribution Agreement to Address Market Entry Barriers in Asia
In response to previous market challenges, especially in China, our flexible MVP approach allows for proactive adjustments based on real-time feedback, parallel with our long-term joint venture track. A new dual distribution deal with IBG Best Life AB enhances our entry strategy, covering essential markets such as Hong Kong, China, and Thailand, with initial orders due by August. This partnership builds on previous cooperations from their Swedish office to help navigate Asian market complexities effectively.
CEO of CS MEDICA, Lone Henriksen emphasizes, "Recognizing we haven't fully decoded market dynamics in these regions, our targeted strategies, including our partnership with IBG Best Life AB, are essential for adapting our offerings and penetrating the Asian markets more effectively."