Swot Analysis Of Walgreens

502 Words2 Pages
bulb-icon

Recommended: Obama's impact on america

According to Investopedia.com (2014), market segmentation is the aggregating of prospective buyers into groups or segments that have common needs and respond similarly to a marketing action. By utilizing market segment, companies can categorize their customers into groups with common characteristics for marketing purposes. Each market group or market segment is unique based on their needs, interest, lifestyle, demographic, and behaviors and companies can use various criteria to create a target market for their products or services. Through successful market segmentation, companies can create successful targeted marketing to generate sales of products and services to ensure the organization’s success. Walgreens is the second-largest retail pharmacy chain in the United States. We provide services ranging from prescription medications, health and wellness products, beauty products, and photo services. Our major competitors are Wal-Mart, CVS Pharmacy, and Rite-Aid Pharmacy. Walgreens’ operations are divided into three segments, Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. Of the three segments, Retail Pharmacy USA is the main segment which …show more content…

Our main consumer groups include pharmacy and retail store. To target the consumers and compete against competitions, Walgreens created many segmentation strategies including convenient services such as mail-order facilities, store locations, customer satisfaction, and large network of insurance plans to capture these customers. As a result of the Affordable Care Act (ACA), as of 2015, there is approximately 89% of American has health insurance coverage. In addition, the number of American health coverage continues to rise (ObamaCare Enrollment Nunmbers, n.d.). Thus, copays for medication are similar most

Show More
Related

  • Analysis Of Five Forces Analysis Walgreens

    715 Words  | 2 Pages

    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

    Read More

  • Interview With a Walgreens Manager

    1872 Words  | 4 Pages

    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.

    Read More

  • Walgreens Business Strategy Essay

    684 Words  | 2 Pages

    Walgreens ensures to have high quality products and solutions by making it convenient for clients to get in and out with what they actual need, enhancing its beauty products and stimulate the convergence of health care by putting everything together. In addition, by utilizing over-the counter health service and providing wellness products, the company helps its customer to find more seamless solutions. Employees are trained to make friends and build relationship internally with their customer. Beyond accelerating the products in the physical store, delivering well experiences to customers also need highly engaged employees offer superior customer care in every community. In addition to provide outstanding customer service in retail stores, the company started a piloting program where people are able to order their prescriptions through phone and takes advantage of convenient curbside pick up. In essence, this action partly shifts Walgreens from a retailer to a service based organization. As a result, through the functional strategy in the company, customers can undergo the differential shopping experiences compared to other drugstore in the industry, and the company can improve its positive reputation and customer

    Read More

  • Business Strategies Used by CVS Company

    1364 Words  | 3 Pages

    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.

    Read More

  • Marketing Case Study Of Primark's Market

    1944 Words  | 4 Pages

    Segmentation is the process of identifying different macro-groups of customers (i.e. segments) based on their common characteristics. The process of choosing a target segment, on which to focus marketing activities on, is a process named targeting.

    Read More

  • Pest Analysis For Amazon.Co.Uk

    1052 Words  | 3 Pages

    Segmenting the market will allow the company to focus more clearly on targeting the right customers with the right product that better satisfy their needs.

    Read More

  • Lexus Marketing Segment Analysis

    1246 Words  | 3 Pages

    Segmentation is a procedure of splitting up the market into different groups of consumers who the same common needs and wants. There are different types of segmentation like geographical segmentation, behavioral segmentation, demographic segmentation, lifestyle segmentation. Lexus divided their vehicles into two categories they four wheel drives and two wheel drives.

    Read More

  • Identifying a Target Market

    1764 Words  | 4 Pages

    Segmentation is the process of determining the breakdown of the target market into smaller specific variables that make it easier to evaluate. Gabbott M (2004, p 159) describes the consumer related segmentation variables as being Geodemographic, Psychographic and Behavioural.

    Read More

  • Marketing Stacy's Pita Chips

    1709 Words  | 4 Pages

    Many factors should be addressed when defining a target market. These factors include market segmentation, product life cycle, and the four "P's" that make the marketing mix. Market segmentation is the process of dividing a total market into market groups consisting of people who have relatively similar product wants and needs. There are four major segmentation variables: geographic, demographic, psychographic, and behavioral. Geographic segmentation includes world region, country region, city, density, or climate. Demographic segmentation can consist of age, gender, income, occupation, education, race, religion, or nationality. Social class, lifestyle, and personality fall into the psychographic segment. The behavioral segment divides buyers into groups based on their knowledge, attitudes, uses, or responses to a product (Bethel, 2007). Once the market segment is identified, that market can be targeted.

    Read More

  • Costco-Market Segmentation Overview

    1495 Words  | 3 Pages

    Terrell, E. (n.d.). Market Segmentation. (Business Reference Services, Library of Congress). Retrieved April 6, 2014, from http://www.loc.gov/rr/business/marketing/

    Read More

  • Segmentation, Targeting and Positioning in a Marketing Mix

    1385 Words  | 3 Pages

    It has been observed since the inception of Marketing that marketers target to only specific market and how they identify such market. There are certain criteria or base they use to identify the consumers who they would be serving to. Customers do have unique requirements satisfaction levels and aspirations. Some customers however are similar with respect to their requirements of goods and services. In such case if their needs are identified and they can be grouped in quantities of a specific size then it can be segmented. Now each customer group have specific expectations and businesses must cater to the needs of the segmented that has been targeted.

    Read More

  • Marketing: Segmentation, Targeting and Positioning

    1705 Words  | 4 Pages

    Segmentation is a marketing strategy that involves separating a wide target market into small groups of customers who share the common need of using or purchasing the product that needs to be marketed. Market segmentation strategies are utilized to identify these groups of consumers and strategies are designed and implemented to make the product or service appeal to them. Support and also the product will be strategically placed in order to successfully achieve the ultimate marketing goal. Businesses and organizations may come up with different type of strategies involving different products and catchy phrases depending on the product or the target segment.

    Read More

  • Glastonbury Festival- Music Event

    1225 Words  | 3 Pages

    Caroline and Jennifer said that ‘Market segmentation is a crucial marketing strategy. Its aim is to identify and delineate market segments or set of buyers which would then become targets for the company’s marketing plans.’ (Tynan and Drayton, 1987) There are many ways to segment the market, such as age, region, environment, psychology and wages (Hall, Jones and Raffo, 2010).

    Read More

  • Market Segmentation Of Airline Industry

    718 Words  | 2 Pages

    Market segmentation means dividing the market into distinct groups that have common needs and will respond similarly to marketing action. Each segment must be unique, have common needs, and respond in a similar manner to marketing efforts. Target market is the group of potential customer that has been selected by business to focus its marketing efforts towards. This is the group the business wants to sell its products/services to. Positioning refers to the image created in the minds of customer of its product or brand. It is a perception created in the minds of the consumer relative to that of its competitors.

    Read More

  • Airline Game: Report on the Simulation

    2976 Words  | 6 Pages

    According to Kotler et al 2013 market segmentation is defined as dividing a market into smaller segments of buyers with distinct needs, characteristics or behaviours that might require separate marketing strategies or mixes. As per the industry data which we were operating we used different theories to segment the market one of them is STP process. In this method whole market is sub divided into different segments based on three activities these are segmentation, targeting and positioning. From the market information in case study we identified similar groups of consumer under market segmentation activity. For example market E had consumers travelling between mini hub to medium city that had a new and growing market. While targeting the market we identified which group of consumers to aim for instance market D had major university and service sectors. Lastly in the product and brand positioning we created a concept so as to appeal the target market by running as discount airline. One of the approaches for market segmentation according to Kotler et...

    Read More

More about Swot Analysis Of Walgreens

Open Document