Running head: CASE ANALYSIS – CVS: THE WEB STRATEGY Abstract CVS decided to expand its services by opening a Web -based drugstore. Initially‚ there were many doubts concerning how to do it “right”; building it from start‚ or acquisition were the options on hand. After studying the possibilities CVS decided to acquire Soma.com and gradually (less than 3 months) turn it into CVS.com. There were many challenges during the process: coordinating a bicoastal organization (Soma.com headquarters
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Marketing Channels WRITTEN GROUP CASE ASSIGNMENT CVS: The Web Strategy This case is about CVS‚ one of the biggest drugstore chains in the US. The Harvard case study was made between 1999 and 2001‚ while CVS was facing the major challenge of acquiring Soma.com and relaunching it as CVS.com‚ in order to respond to the new trend of web-based drugstores like Drugstore.com and Planet Rx. Our report will summarize the evaluation and analysis of the firm’s existing distribution channel at the time
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CVS: The Web Strategy History‚ Development‚ and Growth Established in 1963‚ Consumer Value Store (CVS) was founded by brothers Stanley and Sidney Goldstein and business partner Ralph Hoagland in Lowell‚ Massachusetts. CVS began the operation of its first stores with pharmacy departments in 1967‚ opening locations in Warwick and Cumberland‚ Rhode Island. In 1984‚ CVS/pharmacy became the 15th largest pharmacy chain in the U.S. with 408 stores and $414 million in sales. With growing success CVS
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Case study of CVS According to the filed work results made by PSI team‚ we know that approximately one in four scripts experienced a problem at some point in fulfillment process. As we all know‚ the fulfillment process is critical for the transfer of the customer’s need into reality. An inefficient process would lead to a poor pharmacy service which would depress the recent customer. It’s certainly true that a better fulfillment process could prevent 60%-90% of the customer defection that were due
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Case Study – CVS There are five processes that occur during a prescription refill. Drop Off – This is when a customer gives the script the tech which will be placed the in a time slot that corresponds to the time the customer will be back to pick it up. Data Entry – This is when the tech will enter all required data about the customer and the prescription. Example: Customer info‚ Payment‚ insurance information etc. * Drug utilization review (DUR) – This station is to check to see if
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CVS Caremark Corporation BUSI 4349 Table of Contents Executive Summary……………………………………………………………………………………….. 1 SWOT Analysis………………………………………………………………………………………………. 2 Problem Statement: Main Issue……………………………………………………………………. 3 Three Proposed Strategies………………………………………………………………………….… 4 Strategy 1………………………………………………………………………………………..…. 5 Strategy 2………………………………………………………………………………………..…. 6 Strategy 3………………………………………………………………………………………..…. 7 Preferred Strategy………………………………………………………………………………………
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2 Billion of annual profit “up in smoke” CVS has recently decided to eliminate cigarettes from their vast options of items to purchase at all of their locations. Surprising at first you might ask yourself‚ why would a company willingly give up on over two billion dollars of profit annually? The primary answer being conveyed by CVS executives is that “Tobacco products have no place in a setting where health care is delivered.” This company is making a bold statement that money does not affect
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Management Case Study on CVS Caremark Corporation By: Carter Vaillancourt‚ Megan Land‚ and Emily Michaud UMFK Company Overview •A brief history of CVS •Existing Mission and Vision •Existing Strategies •New Mission and Vision Overview External Assessment •Industry Analysis •Opportunities and Threats •EFE Matrix •CPM Matrix Internal Assessment •Organizational Structure •Strengths and Weaknesses •Financial Condition •IFE Matrix Strategy Formulation •SWOT Matrix •Space Matrix •Grand Strategy Matrix
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1. What other benefits does CVS provide to Extra care customers? Provide examples of both utilitarian and hedonic value. • Additional special offers print on your store receipt frequently throughout the year. • Receive special savings exclusively at CVS/pharmacy when you sign up for email offers. • Turn everyday purchases into college savings with Upromise . • The more you use your Extra Care card‚ the more rewards you will receive. Upromise is a shop online or in store
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THE CVS WEB STRATEGY: INTEGRATION OF AN ONLINE PHARMACY THE CVS WEB STRATEGY: AN EVALUATION OF THE CHALLENGES AND ADVANTAGES OF INTEGRATING AN ONLINE PHARMACY By Leah Bouk Wingate University 1 THE CVS WEB STRATEGY ABSTRACT This paper discusses the considerations surrounding CVS Pharmacy’s initiative to become a part of the virtual drugstore industry. Specifically‚ the organizational structure‚ fundamental design of the autonomous innovation‚ and strategic positioning of CVS
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