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Global marketing into CVS and Walgreens - Essay Example

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Summary
The author of the paper will begin with the statement that Walgreens and CVs are among the largest pharmaceutical stores in the U.S. Walgreens is ranked first with $28.51 billion market cap, and an S4P rating of A. as Walgreens puts it, 75% of the population in the US lives within 3 miles from its stores…
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Global marketing into CVS and Walgreens
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Extract of sample "Global marketing into CVS and Walgreens"

The marketing strategies of CVS revolve around expansion. The company has stores in more than 32 states and is expanding gradually in Florida. The expectations of the Florida market have been beyond anticipations due to customer acceptance and better sales figures in the new areas of expansion. Another marketing strategy used is altering the format of the stores, which has generated high margins of profit. CVS has moved from a 9600 square feet prototype convention to bigger and better freestanding facilities, which has seen $22 billion in sales and ranked second among competitors in 2012 (Callegarri, 2003).

On the other hand, Walgreens has based its marketing strategies on customers. This has resulted in a huge shift in direction. The strategies used include: identifying the customer need; building relationships internally between customer service, IT and operations, and marketing departments; a clear outcome and goal and marketing communication; and making the company system simpler. This has seen Walgreens open more stores to cater to customer need as a marketing strategy. Another marketing strategy used by Walgreens is customer initiatives such as the launch of the Customer Centric Retailing initiative in 2008, which brought huge profit margins (Nulman, 2003).

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