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Cvs Health Strengths And Weaknesses

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CVS Health is one of the many competitors in the pharmacy retail industry with a focus on retail stores and health clinics within their stores. Currently ranked #10 on the Fortune 500 list (Fortune), CVS Health has over 7,800 retail drugstores throughout the states and Puerto Rico as well as in Brazil, 1000 Minute Clinics, and over 1.7 billion prescriptions filled/managed annually with over 217,000 employees (CVS Health). CVS Health has one of the most successful loyalty programs in all of the U.S. The ExtraCare loyalty program has over 70 million card members. The loyalty program is so effective in the sense that it is tailored to the individuals based on their purchase history. A customer may receive personalized coupons sent through U.S.P.S, through email where they can then send to their card, or by visiting a kiosk at the store. With the help of the coupons and ExtraCare Bucks that are earned by making certain purchases during a sales event, CVS Health’s front store or the retail section have increased sales by over 80% (Business). W-Weaknesses: The decision in February 2014, to remove all tobacco products and only sell smoking cessation products in the retail section of its stores, has caused CVS Health …show more content…

With more citizens becoming insured and seeing doctors, CVS Health will be seeing more customers who need their medications filled. With the purchase of Omnicare, a drug delivery company that also works with senior-living centers (Fortune), CVS Health is branching out to try to cover all aspects of the health services. By CVS Health has also gone into partnership with Target for $1.9 billion. CVS Health will acquire all of Target’s 1660 pharmacies and clinic business and will be renamed CVS/Pharmacy or MinuteClinic (Target). With the new agreement, CVS will be reaching out to more customers that will result in future profits as well, which will make up for the loss from the Tobacco Removal

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It is obvious that CVS only cares about how many scripts they can generate with the least amount of staff possible. The customer service that CVS provides is much different from Hy-Vee. Although Hy-Vee is still concerned with how many scripts they fill, their number one priority is customer service. Hy-Vee constantly stresses that we need to treat our patients like family. That means taking time out of our busy day to counsel each patient on their medications instead of just ringing them out.

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Strengths Ulta’s loyalty program plays as a major strength for the company. In its most recent 10K report, Ulta has “approximately 23 million active Ulta Beauty guests” on it’s Ultamate Rewards program that “represent more than 90% of our annual total net sales” (10K report). The loyalty program, along with Ulta’s Customer Relationship Management (CRM) system, creates a more personalized marketing strategy for the company. The loyalty and rewards program helps generate repeat business from customers.

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