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As e-cigarettes are currently enjoying high intangible value partly due to a lack of marketing regulation, any future regulations may influence the competitive landscape and strategies of tobacco companies, potentially affecting the brand value of RRPs, says Haigh

Programs that raise the legal age for tobacco purchases, community campaigns to limit tobacco advertising , and increased cigarette taxes have also been critical in deterring use

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Annual federal excise duty increases Indexed to inflation, meaning prices rise even if nothing else changes