CVS Essay Example | Topics and Well Written Essays - 750 words

CVS - Essay Example As competitors, the two companies monitor the moves of each other thereby ensuring that they change their marketing strategies accordingly. CVS Pharmacy’s products are cheaper than the drugs at Walgreen. The difference in the prices arises from the uniqueness of the markets the two pharmacies target. Drugs at CSV are averagely $1 cheaper than at Walgreen. Walgreen targets the wealthy while CVS targets the middle class a feature that justifies the differences in pricing. The two pharmacies advertise their products and services in different media depending on the cost implications of such besides their effectiveness in reaching the target audience. Such media include billboards, radio, television and newspaper among many others. Additionally, the pharmacies enjoy strategic locations in the cities, a feature that portrays the entrepreneurs’ consideration of place as a fundamental element of the marketing mix. Social media is yet another marketing platform that the two pharmacies use differently in growing their market shares. â€Å"Such different platforms as Facebook and Twitter offer marketers with unique platforms for interactions as both parties share information by posting on the walls of each other.† (Palmer 53). The two pharmacies use the sites differently owing to their unique structures and organizational cultures. CVs pharmacy has numerous Facebook pages and groups in which the company’s marketers interact with their target audiences through posts and comments thereby sharing ideas on the performance of the pharmacy in the market. Besides Facebook, the company has several Twitter accounts, which serves a similar purpose. Walgreen has similar platforms in which it communicates with its target audience while carrying out equally effective marketing researches. CVS Pharmacy for example introduced online shopping owing to the advent of