Walgreens Marketing Plan

10648 Words Nov 1st, 2012 43 Pages
Marketing Project: Walgreens Company

Table of Contents
Introduction………………………………………………………………………….3
Market Situation/External Analysis………………………………………………..3
Current Industry…………………………………………………………………….3
SWOT Analysis………………………………………………………………………4
Major Changes and Trends…………………………………………………………6
Key Success Factors……………………………………………………………….…8
Marketing Strategy………………………………………………………………….9
Segmentation Strategy……………………………………………………………….9
Target Market Description and Strategy…………………………………………..13
Positioning……………………………………………………………………………15
Marketing Mix Strategy………………………………………………………….….18
Marketing Objectives………………………………………………………………..18
Product Strategy……………………………………………………………………..21
Pricing Strategy……………………………………………………………………...23
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The competitive prices, countless discount opportunities, and friendly employees keep customers loyal to Walgreens even if they are not making frequent visits to the pharmacy department. This paper seeks to analyze the different components of the drug store industry and the aspects of the marketing strategy of the Walgreens Company that have kept it a strong competitor for so many years.
Market Situation/External Analysis
Current Industry. The retail drug industry’s 2010 combined annual revenue was $277 billion, according to the National Association of Chain Drug Stores (Drug Store Industry…, 2011, par. 4).The big players in this industry are CVS Caremark, Corp. Walgreen Co., and Rite-Aid, Corp with Wal-Mart and Target developing more of a presence in recent years. According to the article, the drug store industry is very concentrated with the 50 largest companies generating about 70 percent of the industries revenue (Drug Store Industry…, 2011, par. 4). The industry had grown substantially in the last 50 years and will continue to innovate and develop well into the near future.
SWOT Analysis
Strengths. As of 2008, Walgreen operated 6,934 stores in the U.S. and U.S. held territories, making it the largest retail chain pharmacy in North America (DataMonitor, 2010, p. 22). Walgreen’s recent acquisition of Duane-Reade, a prominent

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