MariMed Announces Leading Results in Massachusetts Brand Equity Study
Nature’s Heritage and Betty’s Eddies Ranked as Top Product Brands in Massachusetts
NORWOOD, Mass., Oct. 02, 2023 (GLOBE NEWSWIRE) -- MariMed Inc. (“MariMed” or the “Company”) (CSE: MRMD) (OTCQX: MRMD), a leading multi-state cannabis operator focused on improving lives every day, today announced Betty’s Eddies™ and Nature’s Heritage™ were the top two brands in terms of awareness in a study of Massachusetts cannabis brands conducted by leading market research company Brightfield Group.
In a July 2023 brand equity study of 91 cannabis brands, Betty’s Eddies fruit chews and Nature’s Heritage flower and concentrates ranked #1 and #2, respectively, in brand awareness among non-retail product brands in Massachusetts. Additionally, the study found Betty’s Eddies and Nature’s Heritage scored an 8.6 and 8.5 out of 10 for product quality. The study also found that the brand awareness scores for all of MariMed’s branded cannabis products, including Vibations™ and Bubby’s Baked™, increased among consumers since the last time the study was undertaken in December 2022.
According to Forbes, when a brand has high brand awareness, it becomes easier for consumers to recall and recognize it when making purchase decisions. Thus, high brand awareness is a critical barometer of product consumer purchasing behavior, and is an important indicator of a brand’s sales potential.
“It has been long understood that the most effective way to build brand equity in consumer products is through quality and brand awareness,” said Ryan Crandal, MariMed’s Chief Revenue Officer. “The results of Brightfield Group’s cannabis brand equity study confirmed what we have always believed, which is that MariMed is arguably the only cannabis company that is building brands that will be the long-term winners in the industry. We could not be more thrilled that Massachusetts cannabis consumers recognize the quality and power of Betty’s Eddies and Nature’s Heritage. And for our Vibations and Bubby’s brands to also be recognized after less than two years in existence, speaks volumes to our product development and marketing teams.”
The Company continues to produce some of the highest quality and most recognizable brands, which is evidenced in their respective sales ranking in every state where they are available. MariMed expects to launch its award-winning edible brands, including Betty’s Eddies, Vibations, and Bubby’s Baked in Illinois later this year.
MariMed Inc., a multi-state cannabis operator, is dedicated to improving lives every day through its high-quality products, its actions, and its values. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the Company and its managed business units. Proprietary formulations created by the Company’s technicians are embedded in its top-selling and award-winning products and brands, including Betty’s Eddies, Nature’s Heritage, InHouse, Bubby’s Baked, K Fusion, Kalm Fusion, and Vibations: High + Energy. For additional information, visit www.marimedinc.com.
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Released October 2, 2023