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Essay / Research Paper Abstract
This 3 page paper is written in three parts. Part one considers how retail drug companies, such as Wal-greens, Rite-aids and CVS can all ad value to the value chain, the second part considers what they need to be successful and the third part of the paper gives definitions for the terms Health Maintenance Organization (HMO),Managed Care organization (MCO), Pharmacy Benefit Manager (PBM) and Pharmacare. The bibliography cites 8 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEretldr.rtf
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Unformatted sample text from the term paper:
the industry as a result of the way in which they can add value to the value chain and create a profit as well as satisfy customer needs (Hooley et
al, 2003). The drug store industry needs to create value to sustain its presence. As many of the products they sell are also available at larger superstores. However,
with a more limited range of products these more specialised stores can also be seen to add a great deal of value. As in 2001, this was the best performing
sector of the retail market with an increase of 9.2% over 2000 (Niemira, 2001). This is a trend that has continued, with same store sales up 9.4% in August 2003
compared with a year go for Walgreens, 6.4% for CSV and 6.2% for Rite Aid (Knight Ridder/Tribune Business News, 2003). This is the result of their ability to add value.
Value is added by way of differentiation. The prices will often compete with companies that are able to gain economies of scale and sell at low prices, such as
Wal-Mart and other larger stores. However, for the consumer they are able to compete as there are many smaller location and as such the journey to one of these stores
will often be more convenient. Value is also added with the use of own brands, differentiating from other companies. These are both medical product, but also associated product, such as
Walgreens launch of a new male fragrance in 2003 (Brookman, 2003). There is also value added with a higher number of specialist staff, such as beauty advisers (Brookman, 2003). As
well as different products to increase choice and give the stores a different feel, again, using Walgreens as a example, the stocking of European beauty products has been undertaken (Prior,
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