Iheartjane Harvard Case Solution & Analysis

Analysis

  • Consider(butdonotbeconstrainedby)thedifferentalternativesSocand the team were facing and propose two distinct entrepreneurialstrategies that iheartjane.com could have pursued at that time. Compare and contrast how these strategies would differ in terms of the Four Choices (customer, technology, identity, competition). Provide at least one concrete example of why iheartjane.com has to choose between these alternatives, rather than being able to “do it all.” Choose one of your suggestedstrategiesovertheotherandexplainyourchoice.

 

Answer:The main purpose of Iheartjane.com has been to offer cannabis made medicines to the end users, both cateringmedicinal and recreational users.It has been due to theever increasing demand for such and its usage in the markettotreat nausea, illness and stress anxietyrelated issues, leading to the legalization of the cannabis in the market.

Since pursuing the distribution of cannabis in the market has not been easyand required a long bureaucraticlicense,the companypursued the following alternatives to enter themarket.

Alternative: 1

The company hasthe option to pursue the digitaldispensary, developing its functions from front end to back end. Though the company has theability and capability to run the business and perform different market operations, however, integrating the business plan backwards has been a challenge (farming), due to no or low experience in the farming domain. Moreover, such an optionmay require it to manage its cannabis production andtypes within the digital storesmaking the overall plancomplex for the business.

Iheartjane Harvard Case Solution & Analysis

Alternative:2

Another optionthat the companyhas, is partnering with the already developed dispensaries in the market, offering cannabis and having a strongtraction in the market.The only issues that these players have the unavailability of real time data for the customers to see ifthedrug is present in the store at what price.However, such could be resolvedthrough the incorporation of the Abe model and expertisein designing the software, making the stores and the Soc workcollaboratively, offering valuable service to the end users.

However, such an option is an issue since the plan will work by developing a viable consortium of dispensaries, creatinga strong association with thesedispensaries may not allow the company to pursue its own vision to developsucha model in the market ad may also require to manage the relationship with the dispensaries effectively.

 

Alternative: 3

Another option Soc and the team has is the development of Seed-to-sale strategy. In doingso, it may offer an analysisand trackingof thejourney of cannabis from seed to sale to the consumer andthe dispensaries as well, allowing themto managethe inventorysystemaccordingly.Such mayalso allow the active parties to understand the time to stock-out and may be able to differentiate between different cannabis typesleading to effective pricenegationandthus,profits.However,licensing such is a long process and is graded strongly by the FDA regulation and controls.Along with the adoption of a customizedstrategy for each dispensary, which in the current marketstate is difficult, due to rapid market growth.

Proposed strategies

Iheartjane could have followed the following two strategies instead of the other 3 options discussed above:

The company could have developed an online portal of offering cannabis for both the customers using the social media plat forms such as Facebook, Instagram and Snap chat and  could have used the social media marketing tactics to get traction in the market.This would have greatly increased market awareness and customer virality leading to more sales and brand positioning. Moreover,such would have also allowed attract existing customers through effective usage of Facebook marketing tools, leading to maximum salesman product visibility....................

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