Objective: The purpose of this final project is for students to demonstrate their understanding of the cannabis industry in the New York market and design/develop a strategic initiative, campaign, or project designed to grow an existing cannabis business. Students will need to produce a comprehensive executive summary and present their proposed project in a 10-minute (max) presentation, highlighting how it will generate positive ROI and contribute to the growth of the chosen business.

Instructions:

Select and research an existing cannabis business in New York (LIM College). This business can be anywhere in the supply chain cultivation, processing, retail, ancillary, and beyond. Develop a strategic initiative, campaign, or project aimed at growing the selected business. This could involve expanding the product range, targeting new customer segments, optimizing marketing efforts, a collaboration with another brand, implementing innovative technologies, among other strategies.

Identify the specific problem or opportunity that your proposed project addresses

Describe the key components of your project and explain how they align with the selected business's objectives and overall growth strategy

Include a timeline and budget for the implementation and execution of your project, with clear milestones and benchmarks for success

Deliverables:

Create an executive summary (2-4 pages) that outlines the following:

A brief overview of the selected business, including its history, mission, products/services, existing customer base and market positioning

The proposed initiative, campaign, or project, including a detailed description of its key components, objectives, and expected outcomes

The target audience for the initiative, including demographics, psychographics, and any relevant market segmentation data

The costs and revenues associated with the project, including a detailed budget breakdown and a projection of sales or other revenue streams

An explanation of how the project will generate a positive ROI, supported by financial analysis with relevant industry benchmarks

Any risks or challenges associated with the project, such as regulatory hurdles or market uncertainties, and how they will be addressed through risk mitigation strategies