In an engaging discussion on Episode 12 of Cannabis Pros and Marketing Masters, industry veteran Greg Dunaway offers candid insights into the realities of building brands, navigating market pressures, and the entrepreneurial grit required to succeed in the competitive cannabis landscape.
Dunaway, currently serving as Head of Consulting at Maple Creek Consulting and co-owner and Chief Marketing Officer at Cult Cannabis Company, reflected on his extensive journey within the industry. From early days marketing cultivation equipment in Arizona to co-founding Cult Cannabis, Dunaway emphasized the importance of authenticity, transparency, and strategic relationship-building in establishing a resilient brand.
Building a Brand with Authenticity and Cultural Relevance
Dunaway highlighted Cult’s core identity as “the cult of quality,” emphasizing honesty about the company’s roots and operational independence. Unlike many brands that attempt to mimic California’s landscape, Cult prides itself on being genuinely Arizona-based, cultivating local expertise and integrity. He shared how the brand’s imagery and storytelling draw inspiration from American fascination with cults, referencing documentaries like Wild Wild Country, to create a compelling narrative that invites consumers into its universe.
He acknowledged the delicate balance of using cult-like imagery without crossing ethical lines, noting that the brand has faced scrutiny from platforms like Instagram but remains committed to authentic storytelling. Dunaway believes that transparency about the industry’s challenges—such as regulatory hurdles and market volatility—can foster consumer trust and loyalty.
Market Dynamics and Competitive Challenges in Arizona
Dunaway offered an in-depth look into Arizona’s cannabis market, characterized by a mix of mom-and-pop dispensaries and large multi-state operators (MSOs). The state’s competitive landscape is marked by fluctuating prices, basket sizes, and a “race to the bottom” mentality that pressures brands to differentiate through quality rather than price.
He emphasized the importance of relationship-building in securing dispensary placements, noting that getting products onto shelves requires persistent outreach—sometimes over months—and strategic relationship management. Dunaway also pointed out the unique challenges posed by the state’s regulatory environment, including operating out of multiple facilities and managing costs like rent, utilities, and transportation, often without the benefit of banking services or financial support.
Operational Realities and the Entrepreneurial Spirit
Throughout the conversation, Dunaway emphasized the relentless hustle required to stay afloat. Managing multiple dispensary accounts, dealing with regulatory complexities, and handling day-to-day logistics demand a nimbleness that larger corporations often lack. He shared anecdotes about the sacrifices and resourcefulness needed—such as personally delivering product, negotiating with landlords, and navigating operational setbacks.
He also underscored the importance of financial discipline, advising industry peers to carefully evaluate ROI on every expenditure and to understand operational expenses thoroughly. Dunaway’s approach advocates for transparency with investors and stakeholders, emphasizing that survival hinges on capital management and relentless determination.
Looking Ahead: Opportunities for Industry Evolution
Despite the hurdles, Dunaway remains optimistic about the future of cannabis branding and international expansion. He pointed to innovative models in Germany—such as social clubs and incubator spaces—that foster collaboration and shared cultivation. These models, he suggests, could serve as inspiration for U.S. brands seeking creative ways to scale without prohibitive costs.
He advocates for more industry transparency, including behind-the-scenes storytelling that demystifies the realities of cannabis operations. Dunaway is also exploring opportunities for documentary projects to shed light on the industry’s authentic experiences, aiming to elevate consumer understanding and appreciation.
In closing, Dunaway reaffirmed his commitment to authenticity, resilience, and strategic relationship management as the keys to long-term success. He encourages fellow entrepreneurs to embrace transparency, focus on operational efficiency, and foster genuine connections within the industry.
Watch the full episode here.
