Competition in the Retail Pharmaceutical Sector: Walgreens Case Study

1987 Words Jan 16th, 2018 8 Pages
To fully understand how this taking place, there will be a focus on Walgreens and the way the firm is adjusting with these challenges. This will be accomplished is through examining the industry and how the company is able to position itself. Once this takes place, is when specific insights are provided that are showing how the firm is able to adapt to a host of issues.
Over the last several years, retail pharmacies have been facing increasing amounts of competition. This is because the Internet is providing consumers with a viable alternative and the federal government has a shifting payment structure (for programs such as Medicare). The combination of these factors has forced a number of companies to adapt their business models to these new realities. As a result, some well established firms have begun offering customers a host of solutions to include: programs that are accommodating and convenient. This has led to a transformation in the business model, with a variety of companies now offering 24 hour service that is incorporated with online solutions. (Nelson, 2007, pp. 25 26) In the case of Walgreens, they have been using these platforms to promote themselves over the Internet and at their retail locations. To fully understand how the firm is able to adjust to these challenges requires…

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