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Prospecting

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Submitted By mosowiecki
Words 1223
Pages 5
Name: CVS Health Corporation

Description: CVS is the country’s number two drugstore chain and pharmacy benefits manager operating retail and specialty drugstores. In addition to its traditional retail locations, CVS also operates its Caremark Pharmacy Services and several stores inside Target locations. With the move away from traditional healthcare, CVS also supplies MinuteClinics in more than 900 retail stores.[1]

CVS/Pharmacy, the name of the retail space where more than five million customers are served daily, offers pharmacy care from over 24,000 pharmacists as well as beauty, convenience, and healthcare products covering all areas.[2]

Number of locations: 9,500+ (most current)[3]

Target customer: The average age of CVS customer is 39. Based on CVS’s diverse beauty department, their target market largely consists of women. In fact, 80% of their customers are women.[4]

Contact Person: Bettina Tonelli-Sippel, Category Manager, Healthcare

Why: CVS has enjoyed considerable sales growth since 2010. In the last fiscal year, 2014, the company saw revenue rise by 10% to $139.4 billion, led by its Pharmacy Services and recent acquisitions. It’s retail sales grew by 3% as the company enters new markets, add locations in existing markets, and relocates existing stores to more convenient locations.

In 2014, CVS Caremark formally changed its name to CVS Health, signaling a transition towards being more health-oriented. Paired with this change was the decision to eliminate tobacco products, the first national pharmacy chain to do so. Clearly, CVS wants it customers to be healthy. They are more than simply a company they are an organization that provides for the social well-being of all Americans.

Given my group’s product, I would say that CVS is a qualified prospect. Despite their strong financial performance and focus on the

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