Explore BrainMass
Share

Explore BrainMass

    Marketing a Retail Pharmacy

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Describe and evaluate a company's pricing and retail strategy. Include analysis of the current market situation and the competitive strategy.

    © BrainMass Inc. brainmass.com October 10, 2019, 7:25 am ad1c9bdddf
    https://brainmass.com/business/marketing/marketing-retail-pharmacy-581143

    Solution Preview

    The attached document is not intended as an assignment completion.

    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 ...

    Solution Summary

    This solution provides a discussion about Rite Aid marketing strategies focuses on pricing and how to promote products to various consumer segments. References used are included.

    $2.19