Marketing a Retail Pharmacy

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Rite Aid is a drug store chain in the U.S. that competes with organizations such as Walgreen's, CVS,
Drug Mart, and other chains. It is the 3rd largest drug store chain in the country and the largest in the
Eastern U.S. In 2006, the drug store chain acquired Brooks and Eckerd retail drug store chains. The
organization plans to compete in the industry by focusing on becoming a 'pharmacy-centric' environment
by developing health and wellness programs, establishing positive relationships with managed care
providers, and by promoting senior loyalty programs(Rite Aid, 2014). Though the organization is focuses on
its relationships with seniors and providers, this strategy says nothing about the company's pricing strategy.
Rite Aid also aims to increase in store sales, by catering to different ethnic and socioeconomic
Markets (Rite Aid, 2014). Rite Aid plans to increase its sales at least partly, by increasing prescription sales.
The company is already a leader in generic prescription drug dispensing. This suggests the organization
has chosen to compete with a competitive pricing strategy. It is not a low pricing strategy, because the
prices are not necessarily lower than those of competing retail drug store chains. The pricing strategy of
of Rite Aid retail drugs stores relies on a couple well known approaches, 'the power of context' and 'price ...