Mission And Target Market Of Rite Aid Pharmacy

4505 Words Jun 22nd, 2015 19 Pages
Contents
Introduction 1
Key Personnel 1
Financial Overview 2
Mission and Target Market 3
Competitive Strategy 4
Retail Mix 7
Industry Analysis 8
Competitors 10
Customer Demographics 11
Swot Analysis 13
Summary 15

Introduction Being involved in the US retail drugstore industry, Rite Aid Pharmacy is the third largest drugstore chain, when comparing number of stores and revenue, in the United States. Operating around 4,623 stores in 31 states, with majority of their store placement located on the East and West Coasts, with their corporate headquarters located at 30 Hunter Lane, Camp Hill PA, 17011. Founded by Alex Grass in 1962, then incorporated in 1968, Rite Aid has been involved in a highly competitive market, where continuous
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Thompson: Executive Vice President, Store Operations
• David Abelman: Senior Vice President, Brand Development and Innovation
Financial Overview

Financially, over the past few years, Rite aid has finally gotten out of the red in terms of net income and has produced positive numbers. Below, is Rite Aid’s net income per year, from 2009 to its current fiscal year.
• 2009: (2,915,400)
• 2010: (506,800)
• 2011: (555,424)
• 2012: (368,571)
• 2013: 118,105
• 2014: 249,414
• 2015: 2,109, 173
Additionally, their sales are coming from products and services such as prescription drugs, over-the-counter medications and personal care, health and beauty aids, and general merchandise and other. The percentages of what each category was responsible for total sales are as follows….
• Prescription drugs: 68.8%
• Over-the-counter medications and personal care: 9.6%
• Health and beauty aids: 4.9%
• General merchandise and other: 16.7%
Mission and Target Market

Recently, Rite Aid Corporation is investing a large amount of capital in strategic alliances and competitive advantages against their competitors in the market. Rite Aid currently has an agreement with GNC, structuring a store-within-a-store concept, and is also remodeling many of their stores to follow the new Wellness Program strategic advantage. Both of these will be discussed later on. Rite Aid plans to continue with these same store sales and continue with these strategies to invest capital into

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