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The CVS Caremark Corporation team has experienced great progress in recent years with focused effort toward gaining market share in the pharmaceutical distribution sales industry against some of the toughest competitors, including Rite Aid Corporation, Walgreens Company, and Wal-Mart Stores Inc. CVS’s management team has made great efforts in their human and health marketing program in pharmacy services and retail pharmacy. What is concerning for you and your team is to have a clear strategic plan to supersede the tremendous competition to meet customer demands for innovative pharmacy and health care here in the US and abroad. The consumer’s desire continues to seek for better health and service at a cheaper price.
As I have evaluated your organization’s strengths and weaknesses, I have seen some areas for significant improvement to better position CVS and the management team against their major competitors: Rite Aid, Walgreens, and Wal-Mart. These recommendations will commit the CVS Caremark brand and reputation to be the number one name in the four major areas of human health pharmaceutical distribution and sales encompassing mail order pharmacy, retail pharmacy, specialty pharmacy, and retail clinics nationally as well as international markets.
Through my case study analysis I recommend areas that are instrumental toward increasing market share in the pharmaceutical distribution sales industry here in the US and the globe. The areas of focus are in enlargement of Retail Clinics, pharmaceutical delivery, enlargement in store branding, urban focus with organic foods, pharmacist availability, international expansion, and meet competitor coupon offers to improved market penetration both nationally and international...
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...rding the Retail Pharmacy segment business unit
• Slow growth in GDP causing economies to stay stagnant reducing retail sales to drop
• Unemployment rates remain low
• Rising food, health care , and drugs
• Changes in laws regarding consumer health in the Patient Protection Act, Affordable Care Act, Medicare Prescription Drug Improvement and Modernization Act,
Deficit Reduction Act, and Medicare Part D
• Rise in Retail Pharmacies offering clinical health services
• Walgreens offering more organic food and produce
• The rise in customer demands for more organic food options
• Walgreens expanding the look of its store branding
• Walgreens additional acquisitions
• Rite Aid alliance with GNC for outlets within Rite Aid locations
• Walgreen’s merger with drugstore.com
• Growth in health clinics 10 to 15 percent annually for two years and growing to 30 percent in 2014
The substitutes is another big issue for Walgreens. The supermarket like Walmart has been going into drugstore business. As a supermarket, their products and services are wider, and they can provide the lower price due to bigger supplier and distribution network (Baeb, 2001). Currently, Walgreens has been fighting with specific medical services that has been mentioned in value chain section; prevention & wellness, treatment, and monitoring & management. To reduce the threat of substitutes, Walgreens would rather emphasize its business-level strategy. Also, it is better for Walgreens to have functional-level strategy to support its business-level strategy as well. The emphasized strategy from Porter 's generic strategies has been discussed later in this
Did you know that the CVS in “CVS Pharmacy” stands for “Convenience, Value, and Service?” CVS is a known pharmacy innovation company with a simple and also very clear purpose: helping everyone on their road to better health. Tracing back there history through there retail, pharmacy benefit management and retail clinic roots, today CVS health is a pharmacy innovation company that is reinventing pharmacy. Their company has drastically grown and improved over the years, but their commitment to their customers, clients and communities has never wavered. CVS pharmacy headquarters is currently located in Woonsocket, Rhode Island. (“CVS history”, para. 1)
Mr. Walgreen knew if he was going to be successful in the pharmacy business, he had to learn as much as he could from other pharmacists. Mr. Walgreen worked a series of jobs with the top leading pharmacists named Samuel Rosenfeld, Max Grieben, William G. Valentine, and Isaac W. Blood. However, Mr. Walgreen found that these pharmacists were teaching him old fashioned complacent methods of running a drugstore. He asked himself, “where was the selection of goods that customers really wanted and what about the customer service?” Mr. Walgreen c...
Since 1901, Walgreens has had a strong passion for customer service. The founder, Charles Walgreens, goal was to create a drugstore that was like no other. He said that for as many drugstores as he had worked at, he had never worked for one that had a focus for good customer service and low prices. Walgreens has grown by leaps and bounds since 1901 and is now recognized as the leader in the market with over 7000 stores. Charles Walgreen had an eye for good managers. He said he was able to pick people that he knew were smarter than him so to promote them and make them the heads of his drugstores. As a store manager, not only is it your job to run a store which includes ordering, customer care, and inventory control, but also it is your job to manage the staff. As a part of managing staff, it is their responsibility to hire, train and develop, and terminate if need be. While there are many jobs to choose from when it comes to HR and employee staffing, I choose this one because it is by far to me the most intense.
Eileen has significant career experience working with Medicare and companies specializing in home care, long term care, DME and pharmacy, and in this capacity, she and her team will provide our Market Presidents with integrated market-driven solutions. As we look to our Market Presidents to be ultimately responsible for all products in their respective marketplace, this new model will provide them with the ability to access additional expertise and support at a company-wide
Given the dominance and fiercely competitive nature of Wal-Mart and Target within the big box discount retail industry, Dollar General avoided competing head-to-head with these larger rivals by differentiating a classic generic bu...
We strive to be the number one provider in the United States by investing not only in our company and technological advancements, but also in the communities in which we serve. Whether our customers are new to this world or our veterans, we know that our company can provide them with the newest and most effective products and services, while promoting the healthy communities in which they live. Through our valued employees, CVS is able to provide quality services and quality products. Retail Pharmacy Growth Strategy: CVS has managed to grow considerably in the past few years with the help of acquisition of beneficial companies and integrated the operations of these companies by creating synergy to drive higher margin and greater economies of scope. CVS is building more and more pharmacy stores in convenient locations.
The United States (U.S.) has a health care system that is much different than any other health care system in the world (Nies & McEwen, 2015). It is frequently recognized as one with most recent technological inventions, but at the same time is often criticized for being overly expensive (Nies & McEwen, 2015). In 2010, President Obama signed the Patient Protection and Affordable Care Act (ACA) (U. S. Department of Health & Human Services, n.d.) This plan was implemented in an attempt to make preventative care more affordable and accessible for all uninsured Americans (U.S. Department of Health & Human Services, n.d.). Under the law, the new Patient’s Bill of Rights gives consumers the power to be in charge of their health care choices. (U.S. Department of Health & Human Services, n.d.).
Costco is one of the companies that have started from humble beginnings to become one of the most recognized institutions in the wholesale industry. Based on the Costco case, there are valuable lessons I have learned and the look of things is that Costco is here to stay. One of the insights I have gained from the Costco case is that organizations should understand their value chains and focus on their strengths to drive competitiveness. Another lesson that I have learned is that information technology can be used by organizations to improve their levels of competitiveness. Also, the Costco case study has enabled me to realize that the management of organizations should constantly evaluate the impacts of the strategies they employ because it is through such evaluations that the best practices can be adopted to improve the performances. Costco has applied these aspects in its different areas of operations, and they have advanced the organization since its inception days to present. From the strategic management practices, the organization has grown from strength to
Having worked at CVS for about three years now, I have developed strong relationships with both my customers. Some of my customers are “regulars,” so I know many of them on a first-name basis. I see many of these customers several times throughout the week, and I usually hold conversations with them while I am completing their transaction. I also talk with these customers while I am working on the floor or stocking shelves. One couple knows me so well that they asked my coworkers where I was when I temporarily left my job to move into college and complete my first year. When I returned to CVS to work over winter break, we had a conversation about my plans for school and what my schedule will look like throughout the remainder of the school
“Medicare and the New Health Care Law — What it Means for You.” (2010). Medicare Publications, http://www.medicare.gov/Publications/Pubs/pdf/11467.pdf
Pfizer is the largest American pharmaceutical company and one of the largest pharmaceutical companies in the world. It competes with Merck and Glaxo, and markets such well-known medications as Celebrex and Viagra. However, the pharmaceutical industry as a whole has undergone changes in recent years with significant consolidation taking place and with increased scrutiny regarding the ways in which drugs are developed, tested and marketed. In addition, recent controversies have erupted regarding Merck's drug Vioxx, and Pfizer has been the target of unwanted publicity regarding its painkiller Celebrex. This research considers the strategic position of Pfizer, including its strengths and weaknesses as well as the opportunities and threats that it faces, its strategic priorities and the acquisition strategy that it might follow.
Proximately 6.3 million customers visited Walgreens last year. Another huge strength of the company is their care about customers. Small size format stores allow they focus on customer convenience and service. By running different programs like Rx Savings Advisor, which was focused on elder people or The Dial-a-Pharmacy, the program that allowed customers to speak with a pharmacist in 14 different languages, Walgreens become closer to their
This is a national accomplishment for the public health sector as they consistently advocate for the accessibility of health resources and research development to cure chronic illnesses. This accomplishment sets a precedence for future laws shaping health care management. Although struggles to uphold its validity persevered, much of the language in the law is shortcoming to the the ideal representation of a universal health insurance program. The law is highly regarded as inconsistent and unartful of various determining factors for the health care sector; one referring to the amount of funding that was included in the bill to sponsors subsidies for eligible low-income families/individuals, and second focuses on the crippling structure which prohibits states from ameliorating their Health Departments to meet the demands of the law. As far as amending pieces of the Patient Protection and Affordable Care Act, I would focus on the need to create a more strategic plan to evaluate the financial responsibility of the federal government and the longevity of funding which is required to maintain affordable health insurance premiums and keep health insurance providers. These two parts are pivotal to consider because at the end of the five-year subsidy, if congress does not renew the federal funding, the
Health care laws and regulations influence the delivery of health care services in the United States. Health regulation and regulations agencies develop and enforce laws to protect and improve the access to affordable health care for all Americans. Regulatory agencies affect health care organizations, health care providers, drug and pharmaceutical companies, and health care research.