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Walgreens Vs Cvs Essay

1250 words - 5 pages

* The two health care companies I chose were Walgreens and CVS, both have a long history in the pharmaceutical department and are in direct competition with one another for customers. Walgreens is America’s largest drugstore chain and as of January 31, 2014, it now has 8,678 stores in all 50 states and most districts. Walgreens issued more than 800 million prescriptions annually, which is about 20 percent of the United States market. (Walgreen Vs. CVS) As for online business, it has almost 17 million visitors per month. Walgreens’s strategy has evolved throughout the century it has been in business. As CVS, it is the second largest pharmacy chain in the United States. It has more 7600 ...view middle of the document...

This decision would cut off 2 billion in cigarette sales in revenue; the company decided to make this decision because they want to stay consistent with their brand as a health care provider. It was found that 26,000 pharmacists and nurse practitioners link problems such as high cholesterol, high blood pressure, and heart disease are linked to smoking according to CVS CEO Larry L. Merlo to the New York Times. (Walgreen Vs. CVS) The company decided that the selling of cigarettes and health care cannot mix. The move has earned them a lot of accolades, massive PR and social media exposure, though the revenue perspective says otherwise; it is a smart move for the company since it is the first major drugstore chain to go this route. It is a great move to enhance the brand by being the first, and thus a potential leader in the industry. This move can also make them more appeasing to doctors and insurers, and more importantly, the prescriptions for baby boomers has the potential to have far more earning than cigarettes. It also offers well-trained health care professions like pharmacists and health consultants which offers a major competitive advantage. CVS is trying to best ties itself to a person’s life and lifestyle changes, which is a great marketing strategy. It also offers like Walgreens a loyalty program and discounts based on how much individual workouts. In CVS stores, it has also added 650 in-store “Minute Clinics,” since the Affordable Care Act now will transfer millions of formerly uninsured Americans to primary care physicians rather than to emergency rooms over the years. CVS is taking the opportunity to expand for the significant customer grow in primary care business. It has a plan to accommodate the new business by opening 150 new clinics in this year, and hopes to increase the amount to 1,500 new clinics by 2017. (Walgreen Vs. CVS) It is also a major player in the pharmacy benefit management; CVS has a total revenue of 123.1 billion in fiscal, and the PBM business grew in about 20 percent. (Walgreen Vs. CVS)
* Walgreen’s marketing has changed over the years from the 1920s to current time. Walgreens has always used advertisement and firmly believes in its power. In the 1900s, it consistently spend 2-3 percent of sales on newspaper ads, this is twice as much as many other chain store at the time. These ads focused more on merchandise and prices rather than customer service. Walgreens was also the first store to advertise on the radio and sponsor popular shows on the radio. During the 1929-1945, Walgreens did something to similar to a cooperative when it allowed there pharmacies more access Walgreens products, and to its operation and merchandising support in exchange for rent. It provided incremental...

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