Hemp in Switzerland
Many countries have been easing legal regulations on hemp and hemp products for years. The global hemp market is expected to grow by 17% annually over the next four years. As a result of decades of prohibition and bad press, some prejudices about hemp have become deeply ingrained in society.
Tina Valentic & Simon Döbeli, 2023
Bachelor Thesis, SWISS Gate AG
Betreuende Dozierende: Stephanie Greiwe
Keywords: Hemp, Hemp Perception, Market Development, Market Research, Opinion Research
The company SWISS Gate AG was founded in 2019 and is specialized in the development and distribution of products with hemp-based ingredients. They focus on the categories of cosmetics, nutrition, and lifestyle. The most challenging issue for start-ups is that there is little reliable and current data on the national market for products with hemp plant ingredients. This concerns both, the data on the market itself as well as the data on the behavior and attitude of individuals towards products containing hemp plant ingredients. Additional data is crucial for wise future business decisions.
By collecting primary data, this paper aims to contribute to a better understanding of peoples’ perceptions and buying preferences for hemp products. The primary data collection is performed by conducting an online survey, which contains a total of 18 questions. Furthermore, this paper studies the available secondary data, including SWISS Gate AG's current competitive environment and customer segmentation. The currently defined target groups are compared with the implications drawn from the paper's primary research. The result should enable SWISS Gate AG to redirect its marketing efforts.
The paper shows, that hemp is mostly perceived in connection with smoking hemp, which is not to be classified as a negative association per se. Less than 25% of the survey respondents have a fundamentally negative perception of hemp. A large proportion of the sample has a neutral attitude toward hemp products, suggesting that a positive perception can be achieved through appropriate education. Further findings include that almost half of the respondents have already bought legal hemp products in the past, reporting good experiences with them. Generally, cosmetic products as well as hemp teas seem to be promising market areas, as the respondents could most likely imagine buying them. The nutrition and cosmetics markets seem to have immense potential. Lifestyle products are often associated with relaxing effects, which can further be used as a strong argument for sales. Providing ideas on how to combat the stigmatization of hemp, measures include clear communication of the product's ingredients and educational content on health-promoting ingredients of hemp. To further educate about hemp, suggestions also include collaborations with other market players and associations.
Studiengang: Business Administration International Management (Bachelor)
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