The Hydropothecary

[Devil Lettuce]

This place has been mentioned before, it's the ritzy prospective LP in Ottawa. They have been posting jobs lately, so I'm assuming they may be nearing the end of the application process? Either way, I came across their menu online and thought I would post it here for a laugh. You may have to zoom if your eyesight sucks, but "prices starting at $18/gram isn't the half of it, they are listing some strains for up to $34/gram!!!! And for all of that, they won't even tell you what strain it is.....

 

[gb123]

lol.... what would you expect to pay?

At least....there's a price list .. Fancy usually doesn't have one.

"Lunch break"....haahahahahaha Awesome.

 

[oddish]

We laugh, but if they get approval this will sell.
There's always a market for this type of product.

 

[Devil Lettuce]

We laugh, but if they get approval this will sell.
There's always a market for this type of product.

Until we get legalization and an outfit opens up right next door selling top-shelf concentrates for the same prices. And I don't care how rich (and stupid) some people are, I can't see enough suckers forking out 3x the price of the competition (for a very limited selection) for them to be profitable.

 

[gb123]

legalization is the end result ........no doubt.

 

[oddish]

I still disagree. Look at any other industry (ie: clothing, cigars, restaurants).
There are always those that sell the same product in a different box for a higher price.

 

[Devil Lettuce]

I still disagree. Look at any other industry (ie: clothing, cigars, restaurants).
There are always those that sell the same product in a different box for a higher price.

Those commodities aren't medicine. And have a look around Colorado, tell me if you see any establishments charging 2-3x the competition that are in business. You can't just blindly apply all marketing and business strategies to marijuana as MJ breaks most of the traditional rules. Weed smokers are also a completely different customer base, as they tend to think for themselves and are not sheep like the rest of society. They question things like "what makes this MJ worth 3x as much as the guy next door?". This is one of the products that truly speaks for itself, and no marketing is going to inflate it's worth to 2-3x market value.

 

[The Hippy]

Insane...purely insane...oh well TWPMP

 

[oddish]

Marijuana isn't just medicine. Let's not kid ourselves about that.
Medicinal users know about what buds are what, what matters most to their system, etc.

There's an entirely different market that will purchase good looking buds in nice packaging at 3x retail price if it looks good on their shelf. I've met these guys before and I promise they exist in sufficient supply.

 

[j0yr1d3]

The MMPR thinks patients are multi millionaires already at $8 a gram. $18-34 they must be going after the billionaire crowd.

 

[Devil Lettuce]

Marijuana isn't just medicine. Let's not kid ourselves about that.
Medicinal users know about what buds are what, what matters most to their system, etc.

There's an entirely different market that will purchase good looking buds in nice packaging at 3x retail price if it looks good on their shelf. I've met these guys before and I promise they exist in sufficient supply.

And what happens when another company or companies offer just as fancy (or even fancier) packaging at market prices? I know of other LP's that will be shipping in glass in packaging much nicer than what I see on the Hydropothecary site, and for less than $10 a gram. A rich guy isn't going to buy a $34 Porche when he can buy a $10 Porche....they didn't get rich by being stupid with their money.

Again, look at Colorado........lots of very wealthy people there too, but you will not find prices like this. You will have super ritzy places, but they will charge 30% extra, not 300%. If it won't work there, I see no reason why it would work here.

 

[The Hippy]

It's called "Donald Trump " weed

 

[oddish]

That's not how it works. If you sell the same product in 2 parts of the store at 2 entirely different prices - one in the front window for $1000 on display and one in the back corner for $100 - the $1000 product still sells. Years and years of market research shows that there are always luxury and premium offerings and that they sell. You can buy products that are 100% identical to another product, but someone stamped "Hugo Boss" on the side and it sells for $100 more.

I understand everything you're saying and I agree that it's ridiculous, but it will sell to people.
The company next door won't make the same pretty box and sell it for less, because no matter what people will believe that the more expensive facility is producing marijuana differently and that the product inside that package costs more for a reason.

Yes, I may or may not be in the Marketing field.

 

[Devil Lettuce]

See my above post....the proof is in the pudding, and these prices for marijuana do not exist in NA, period. And again, MJ breaks most of the rules and traditional marketing and business practices do not always apply. It is business and marketing people thinking they can reinvent the MJ wheel and get rich that is making this system an embarrassing mess.

 

[oddish]

Not existing just means the market is untapped.
It's not that it wouldn't work in Colorado, it's that they have other hurdles there as well on the financial side and no one has specifically tried it.

All we can do is wait and see, but I doubt these guys will get a license unless they already have an LOI.

 

[gb123]

A rich guy isn't going to buy a $34 Porche when he can buy a $10 Porche....they didn't get rich by being stupid with their money.

.

you could not be more wrong about what you think.
Truth is...you're the type that would under sell yourself.
The next guy would come in and destroy you, with a price double what you charged, and get the work!

...why????

...because the person that employed him THINKS they are getting the best work done because it costs the most !

 

[j0yr1d3]

They might get a license, I just don't see them getting enough market share to survive. There's a very small market for the MMPR currently and most patients I know can't even afford $8 a gram let alone $18+.

 

[Devil Lettuce]

Not existing just means the market is untapped.
It's not that it wouldn't work in Colorado, it's that they have other hurdles there as well on the financial side and no one has specifically tried it.

All we can do is wait and see, but I doubt these guys will get a license unless they already have an LOI.

People have tried it and failed, that's what I'm trying to tell you. There are the uber-elite places that make a go of it in Colorado, Bevery Hills, etc, but they can only get away with charging 30-50% extra, that's it. It all comes down to supply and demand, and as soon as the doors open to legalization, there will be a place right next door serving the same elite product to the same elite clientele for 1/2 the price.

I'm sorry, $34 is completely absurd and insulting. Not even an attempt at appearing to be medical in nature.

 

[oddish]

It's true. People that buy Porsche's pay an extra $1000 for an LED bulb and an extra $2000 for the top stitch to be red instead of white.

If someone failed at it, I'm telling you that they did it wrong.
Marketing is marketing. $0.99 appeals more than $1.00 and $39 appeals more than $40.
Customers will pay extra for priority shipping. They'll pay extra for better buds. They'll pay extra for a nicer box that can sit on their mantle. They'll pay extra for the experience. I understand what you're saying, but this is a reality.

Just because Joe couldn't sell overpriced weed he grew doesn't mean it cannot be done by Andy or the Hydropothecary.
Also, at those prices they hardly need any market share. Exclusivity drives sales.

 

[oddish]

They might get a license, I just don't see them getting enough market share to survive. There's a very small market for the MMPR currently and most patients I know can't even afford $8 a gram let alone $18+.

Again, it's not really about patients. Just like Porsches aren't made for farmers.
The target market is very different and the service, concierge, packaging, process, curing time, presentation, education, shipping and overall presentation will all be factors in this.