...----------------------------Page 4 Literature Review------------------------------------------------------------------------------------------------Page 5 Analysis-----------------------------------------------------------------------------------------------------------Page 7 Suggestive Solutions--------------------------------------------------------------------------------------------Page 8 Conclusion & Reflection --------------------------------------------------------------------------------------Page 9 Work Cited------------------------------------------------------------------------------------------------------Page 10 INTRODUCTION Walgreens is one of the fortune 500 companies and among the fastest growing retailers in the country. Walgreens as of April 30 operated 8307 location in all 50 states including the District of Columbia, Puerto Rico and Guam. This includes 7855 drugstores, 146 more than a year ago, including 21 stores acquired over the last 12 months. The company also operates infusion and respiratory services facilities, specialty pharmacy and mail service facilities. They also have a take care health system subsidiary which manages more than 700 in-store convenient care clinics and worksite health and wellness canters. This research is based on the problem facing the company on how executive decision making in the company has caused a negative impact and low productivity level among employees due to their decision...
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...University Online Walgreens management method has a small amount of change since the founder, Charles R. Walgreens systematic approach. As an entrepreneur, Charles had much more work to do than management today because he had to create a starting point. In 1893 when Walgreens was founded, there was already over 1,500 drugstores competing for business and which many were successful (n.d., Our Past). This left customers with many stores to choose from. Walgreen decided on beating the odds with changing the layout of the store and broadening the merchandise at feasible prices. Unlike the other drug stores Walgreen store was attractive and brightly lit, had wider aisles, and provided pots and pans, which was unheard of as well as products for health and wellness. Walgreens insisted on a wonderful customer experience, himself and his colleague personally greeted each customer. Always thinking of ways to grow a customer base, Walgreen also provided hot food during the cold season. Walgreens competition only served cold items ((n.d., Our Past). Like Walgreen, management today consistently keeps new ideas going to satisfy their growing customer base. Today Walgreens is continuing to provide a well experience for customers. Besides upgrading the physical store, management trains employees on how to provide exceptional customer care. Management continues to provide the right products and solutions in every neighborhood store in America. Upon the stores success, Walgreens has expanded the...
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...Marketing Project: Walgreens Company Table of Contents Introduction………………………………………………………………………….3 Market Situation/External Analysis………………………………………………..3 Current Industry…………………………………………………………………….3 SWOT Analysis………………………………………………………………………4 Major Changes and Trends…………………………………………………………6 Key Success Factors……………………………………………………………….…8 Marketing Strategy………………………………………………………………….9 Segmentation Strategy……………………………………………………………….9 Target Market Description and Strategy…………………………………………..13 Positioning……………………………………………………………………………15 Marketing Mix Strategy………………………………………………………….….18 Marketing Objectives………………………………………………………………..18 Product Strategy……………………………………………………………………..21 Pricing Strategy……………………………………………………………………...23 Promotion Strategy………………………………………………………………….25 Distribution Strategy………………………………………………………………..27 Forecast………………………………………………………………………………29 Conclusion……………………………………………………………………………31 References……………………………………………………………………………32 Introduction Walgreens is established as one of the leading competitors in the drug store industry. Over the years, Walgreens has developed a very well-known and respectable name for itself through different marketing strategies and company strengths. Like any company in a competitive market, Walgreens has its share of opportunities and threats, and has continued to remain at the top of the industry. Providing such a wide variety of products and services to its very diverse customer base means Walgreens must stay up-to-date...
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...Walgreens was founded by Charles R. Walgreen in 1901 and the man who had shaken up the entire drugstore business. He would have never became a pharmacist, successful entrepreneur and business owner if he had not cut off the top joint of his middle finger ending his athletic competition. Walgreen had became a registered pharmacist in 1897 and worked for a pharmacist, working hard, raising money to opening up his first store located in the Barrett's hotel on Chicago's South Side in 1901. He changed the whole look of drugstores first by changing the layout of it all. He brought it brighter lights, expanded the aisles and personally greeted each customer as they entered the store, all of this so customers felt welcomed. Next, he improved and broaden...
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...Running head: STRATEGY PLAN Walgreen Pharmacy Brigida L. Diaz Jones International University Prof: Dr. Sue Raftery Table of Contents Executive Summary…………………………………………………………………………........3 Walgreens Introduction...…………………………….……………………...............…………..4 Mission Statement…………………………….....………………………..………………………6 Walgreens Corporate Culture……………………………………………….………...…….…..7 Walgreens Stakeholders……………………………………………………………………….…8 Executive officer of Walgreens……………………………………….………………………….8 Walgreens Development Process………………………………………………………………...9 SWOT Analysis……………………………………….………………………………………….10 Goals ……………………………………………………………………………………………...15 Walgreens’s Implementation plan ………………………………………………………..........19 Walgreens’s Approval Strategies Plan:……………..………………………………….............20 References…………………………………………………………….…………………………..21 Appendices:……………………………………………………….…….….……………….…….23 An Executive Summary: With a variety of 70,000 health care service providers, Walgreen offers consumers and patients the support that reliefs them live a “well” life. Walgreen has more of 26,000 pharmacists at more than 7,500 stores across the country (Walgreen, 2011). The patients trust in Walgreen’s pharmacist in the moment, to take decisions. They provide information about health and wellness needs, and ensure they get their medication and immunizations in a timely and caring environment. At the same time, Walgreen is transforming and enhancing the role of...
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...Walgreens: Strategic Evolution 1 America’s largest drugstore chain, Walgreens, had 8,210 locations by 2011, including 7,761 drugstores. Almost 75 percent of Americans lived within five miles of a Walgreens pharmacy, and more than 6 million customers were served each day. Walgreens issued more than 800 million prescriptions annually, representing 20 percent of the U.S. market. Its online business, Walgreens.com, had almost 17 million visitors per month. Walgreens’ strategy had evolved for more than a century in business. By 2012, the company faced a number of major strategic questions, including international expansion and a changing health care environment. History of Pharmacy2 People have been trying to create remedies for illnesses and ailments since the beginning of time, but most historians credit Babylon with the first organized apothecary. This was followed by the Romans, who created a system of pathology and therapy that became standards for Western medicine for more than 1,000 years. For the most part, though, pharmacy remained a sketchy and shadowy business for centuries, practiced by (among others) witch doctors and alchemists. Advances in medicine and the Renaissance era led to more structured and scientific approaches. In 1240, German Emperor Frederick II issued a proclamation establishing the practice of pharmacy along three tenets: (1) separation of the pharmaceutical profession from the medical profession; (2) official supervision (regulation) of pharmacy; and...
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...programs. Despite the great highlights of the company there are a few concerns and the company does face challenges especially with its largest competitor Walgreen Company (WAG). CVS Health Corp's Book Value Per Share for the fiscal year that ended in Dec. 2014 is calculated as: Book Value per Share = Total Equity - Preferred Stock / Shares Outstanding = $37,958 - $0 / $1,140=$33 Current Ratio on Sales= Current Assets/ Current Liabilities $25,983/$19,027= 1.3 Current Profit Margin on Sales= net income/ net sales =18.20% As the nation's largest drugstore chain with fiscal 2014 sales of $76 billion, Walgreens vision is to be America’s most loved pharmacy-led health, wellbeing and beauty enterprise. Each day, in communities across America, more than 8 million customers interact with Walgreens using the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with online and mobile services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit...
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...EXECUTIVE SUMMARY: Introduction to company: The Walgreen Company (Walgreens, or sometimes archaically Walgreen) is the largest drug retailing chain in the United States. As of May 31, 2014, the company operated 8,217 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. It was founded in Chicago, Illinois, in 1901. The Walgreens headquarters office is in the Chicago suburb of Deerfield, Illinois. COMPANY PROFILE: Company Name: Walgreens.Type : SubsidiaryIndustry : RetailFounded:1901,115 years agoHead quarters: 200 Wilmot Road, Deerfield ,Illinois, United statesFounder: Charles Rudolph WalgreenNumber of locations : 8229Area served : Unites statesPeople: James a Skinner( Executive Chairman)Products: Drug store, PharmacyParent company: Walgreens Boots AllianceSlogan : At the Corner of Happy and HealthyWebsite: Walgreens.com | Mission To be America's most loved pharmacy-led health, wellbeing and beauty retailer. Purpose To champion everyone’s right to be happy and healthy. Values Based on the principles upon which Walgreens was founded more than a century ago: Honesty, trust, and integrity with our customers, our shareholders, suppliers, the communities we serve, and among ourselves. Quality through consistent and reliable service, advice, and products across every touch point and channel. Caring, compassionate and driven to delivering a great customer and patient experience through outstanding service and a desire...
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...Walgreens Co. is the largest drugstore chain in the United States in terms of sales, receiving most of its revenue from retail prescriptions. These drugstores sell prescription and non-prescription drugs, and general merchandise. Its general merchandise consists of beauty care, personal care, household items, candy, photofinishing, greeting cards, seasonal items, convenience food and Walgreens offers an old-fashioned tonic for fiscal fitness. While Walgreen has fewer stores than its closest rival CVS, it is #1 in the nation in sales (Hoover's Inc, 2007). Walgreens operates about 6,000 stores in 49 states and Puerto Rico, and has three mail order facilities. Walgreen usually builds rather than buys stores, so it can pick prime locations (Hoover's Inc, 2007). Most of their stores are freestanding locations with a few outlets in mall and mini-malls. Throughout this paper I would describe Walgreens physical assets and technology and determine whether or not the organization has optimized its organizational resources for effectiveness and efficiency. In 1901 Charles R. Walgreens Sr. purchased the Chicago drugstore he had been working in as a pharmacist. A second store was bought in 1909 and by 1915, there were five Walgreens drugstore. By 1916, there were four additional stores that were bought, all on Chicago’s South Side. The stores were consolidated as Walgreen Co. with the aim of assuring economies of scale (Walgreens History, 2004). In 1919 there were 20 Walgreens stores...
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...Introduction Walgreen Co. and CVS/Caremark are two of the largest retail drugstore chains in the United States, offering consumers a variety of basic consumer goods including household products, convenience foods, personal care, beauty care, photofinishing, and seasonal items, as well as over-the-counter and prescription medication. In addition to their well-known retail pharmacies, both companies also operate a health services health and wellness division. Within the retail pharmacy industry CVS/Caremark and Walgreens continually battle for the retail position. This document will offer an overview and basic competitive analysis of the two companies. Background Location & Type of presence (brick and mortar, or internet) According to the CVS/Caremark 2011Annaul Report, page 23; as of December 31, 2011, the CVS/Caremark Retail Pharmacy segment operated 7,327 retail drugstores with 7,271of these retail stores operating a full service pharmacy. Their stores are located in 41 states and the District of Columbia and Puerto Rico. Additionally, within these retail stores operate 657 health care clinics conducting business under the Minute Clinic name. The retail pharmacy stores operate primarily under the CVS/pharmacy or Longs Drugs names. In addition, the Pharmacy Services segment operates under the names CVS Caremark Pharmacy Services, Caremark, CVS Caremark, Care Plus CVS/pharmacy, Care Plus, and Rx America to providing pharmacy benefit management services to employers, insurance...
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...Environmental Analysis Organizational Structure: According to the organizational structure (Figure 1), the executive team of CVS includes one President and twelve Vice Presidents. This team reports to the Board, which including nine directors. , CVS has established a management structure that is aligned to support the company's goal of providing quality services and quality products. Five Vice Presidents are in charge of products and services relevant functions and six are supervising supporting functions, such as accounting and human resource. Compared with the organizational structure in 2011, CVS has nominated its new CEO and changed six Vice Presidents. (The changes are highlighted in red in Figure 1.) The former CEO Thomas M. Ryan was also Chairman of Board. However, in 2013, CVS separated the CEO from Chairman of Board. Also, Helena Foulkes, who has been with CVS for over 15 years, has started a new position in Chief Health Care Strategy since 2011. This shows CVS’s attempt to intensify its ability of dealing with the ever-changing health care market demand and policies as well as its ambitious to keep leading the market. Customers and Services CVS’s business is comprised of Pharmacy Services segment, Retail pharmacy segment, and corporate segment. The Pharmacy Service provides a full range of pharmacy benefit management (“PBM”) services including mail order pharmacy services, specialty pharmacy services, plan design and administration, formulary management and...
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...Transmercial. 1340 Tully Road, Suite 306-307 — San Jose, CA 95122-3055 — (408) 288-5500— (408) 288-5533(F)- © Transmercial. 2010 transmercial Commercial Real Estate Investment www.transmercial.com 3RD QUARTER 2010 Newsletter VOLUME 5 ISSUE 1 Walgreens, CVS or Rite-Aid: Which Tenant Is Best in 2011? By David V. Tran There are 3 major drugstore chains in the US: Walgreens, CVS, and Rite Aid. Below are some key statistics about the 3 major drugstore chains as of July 2010: 1. Walgreens ranks #1 with market cap of $29.33 Billion, $66.25 Billion in revenue, and S&P rating of A+. According to Walgreens, 75% US population lives within 3 miles from its stores. On Oct 1, 2009, Walgreens opened its 7000-th store in Brooklyn, New York. In April 2010, it acquired 258 Duane Reade drug stores in New York Metropolitan area. 2. CVS ranks #2 with market cap of $42.09 Billion, $99.1 Billion in revenue (CVS revenue alone is less than Walgreens if revenue from its Caremark group is taken out), and S&P rating of BBB+. CVS opened its 7000-th store in Little Canada, Minnesota on October 5, 2009 and currently operates 7025 drug stores. 3. Rite Aid ranks #3 with market cap of $869 Million, $25.53 Billion in revenue, 4780 drug stores and S&P rating of B-. Investors purchase properties occupied by these drugstore chains for the following reasons: 1. The drugstore business is very recession-insensitive. People need medicine when they are sick, regardless of the state of the economy. Both...
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...* Degree of Alignment * Walgreens holds a reputation as the local trustworthy neighborhood convenient store, several which are accessible 24 hours a day, 7 days a week. This image is important to the face and ethics of the business and so we share a vision and strive to maintain its status and recognition. Walgreens wants to achieve customer satisfaction while providing everyday household items, necessities, and other merchandise. They intend to accomplish this shared vision by tending to customers ensuring satisfaction, keeping the atmosphere of the business neat and clean, and conveniently making the locations available internationally. The organization’s actual plans and actions also strive for this same goal, however, there are always other factors such as whether employees are being rude to customers, the maintenance of certain locations are not being kept, or if competition was rising causing us to lose business. * They offer services in various areas and product categories. Some of these categories include Pharmacy & Health; Photo; Beauty & Personal care; Medicine & Treatments; and Vitamins & Supplements. Other categories of interest at Walgreens include Sexual Wellness; Grocery; Baby, Kids & Toys; Household; Diet & Fitness; As Seen on TV; and seasonal products. Through providing these various products and services, they will achieve success in their goal of customer satisfaction and being the leading manufacturer for these services over...
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...Market research and analysis show that the proposed company, Rite Aid, is one of the nation’s leading drugstore chains. With approximately 4,600 stores in 31 states, Rite Aid is the third largest pharmacy retailer in the U.S employing with roughly 89,000 associates. This purchase would be an excellent decision because in a highly competitive industry, CEO John Standley will continue to revamp the corporation and recover from managerial errors, due to some downfalls Rite Aid has faced with mismanagement, the burden of excessive debt, and troubled history of family drama. John Standley will make strategic decisions to enhance the company’s competitiveness in the new information age, restore profitability, and create value for all Rite Aid stakeholders. Rite Aid’s goal is to meet the needs of the consumers, focusing to improve the health and wellness of communities. Continuing to redesign the private brand with a new look, new brands, and additional rewards delivering consumers with the best for their unique needs. Rite Aid increases revenue with the launch of Envision Pharmaceutical Services (EnvisionRx) with an estimate of 27.9 million Rite Aid shares. Rite Aid also delivers free customer rewards programs, Wellness+ or Wellness+ with Plenti, which offer greater savings and benefits to customers by earning Plenti points in a single rewards card. Rite Aid’s striving objective to provide customers with the best products, services, and advice as a team work culture has led to earn...
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...* 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 stores, and it is ranked the 13 largest company in the world by Fortune 500 in 2013. (Walgreen Vs. CVS) This paper would examine the positioning and differentiation strategies between Walgreens and CVS. * The creation of remedies for illnesses and ailments have been discovered by people since the beginning of existence. The first organized apothecary had been credited to the Babylon. Later followed by the Roman, who discovered a system of pathology and therapy which became the standards for medicine for more than a 1,000 years. While pharmacy was consider as a shadowy and sketchy business of a long time, practiced by witch doctors. As the renaissance era entered in, medicine and treatments became more structured with a scientific approach. “In 1240, German Emperor Frederick II issued a proclamation...
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