Walgreens

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Introduction

Walgreen is a pharmacy which was established in the year 1901. Initially, it was operating as a single store. Due to their strategic planning, they had managed to create a good network and were almost all over in the cities of America. By the year 2014, the company started facing several threats and they had no option rather than to look for an external market. Its entry was through the external market that was facilitated by the alliance boot, an international partner based at U.K. Alliance boots in about 10 countries, they had acquired around global boots with 3300 stores (Thompson, Peteraf, Strickland, & Gamble, 2015). Walgreens is termed to be the biggest medication chain retail warehouse in the US with above 8000 supplies in around 50 states. The organization has got the pride of usually being the most drug selling store in the US and far much ahead of its contestants serving 4 million clients on daily basis and filling above 400 medicines each day. Segmentation of the Market is essential to tailoring offerings and strategies that are important for the sustained achievements of the organization in a spirited market of pharmaceuticals (Kovaleski, 2020).

What was Walgreens’ entry strategy designed to achieve?

Walgreens is positioning a revival on savings cost, which the organization claimed that it is on track to harvest some 1.8billion dollars by end of 2022. Though notwithstanding some creativities such as a link with Kroger, purchasing, and an agreement to impression FedEx bundles in supplies, the organization is planning on flat incomes growth. Walgreens is not receiving much assistance from its campaigns on healthcare, with its America division of trade pharmacy seeing trade prescription share of the market on a 30-day shifted basis reduce approximately fifty-five basis points in the fourth to 20.9 percent (Martin, 2015). Secondly, Walgreens is seeking to make an increase in its offerings for in-store clients. More so, Walgreens is as well as attempting to imitate online traders such as Amazon through boosting its capabilities of the delivery (Howland, 2020).

Why would this make sense for a company like Walgreens?

Global Brands leaders in all divisional gatherings are shifting very rapidly to push extra sourcing advantages across the organization; assisting Walgreens to Boots and advance promotions and pricing, re-establish the Glory and Soap brand in the United States, maintain the drive of the performance of strong brands. Over the prolonged-term, opportunities for growth for international Brands include makeover grouping management abilities across the organization; backing up Walgreens development in personal care and beauty offerings; increasing income potential via analytics and data capabilities; portfolio introduction of products to new markets such as Chile and Mexico; and enduring to search for advance invention and great probable trademarks to match the portfolio of the organization (Frank, 2020).

Recommendations to Walgreen’s

There is some recommendation that Walgreen requires to ensure that the companies dream has been realized. With the expectation of the consumer, marketers have to distribute the exceptional experiences of the customer to continue being relevant. Deepika Pandey who is the Chief Digital Marketing Officer gets to share on the way her habitually brand of brick-and-mortar accepts technology to push a competitive benefit. Because of the rapid progressions in technology, clients today anticipate their experience of shopping to be very faster, easier, and better. They need their products to be delivered in the shortest time possible, make payment for goods purchases with their mobile phones. To add on, clients no longer go shopping on the “offline” or online world but instead, they do their shopping in a world of “non-line”. Hence they do expect delivery of brands to be a smooth experience, hence Walgreens have to optimize across the entire channels (Thompson, Peteraf, Strickland, & Gamble, 2015).

Secondly, Walgreen should not just make an innovation just for the sake of doing it. The entire innovations on technology have contained something in common: They are considered from the needs of the customer. Great experiences on the client must stimulate technology and not the other way around. Since everything that is done at Walgreens is client-led, we have faith that invention must not just be under one team. Hence, Walgreen should be made an invention as a part of everybody’s job. With a common goal that is been shared on creating improved experiences and products for their customers, they have to hold regular meetings with clues from numerous teams to converse the client’s study, exchange thoughts, and get to pose a challenge to one other. For instance, which kind of the group in the society is prone to illness, what kind of illness, and then how they can come up with a specific medication to handle that and must be unique in the market (Pandey, 2017).

Conclusion.

In conclusion, international partnership is very helpful in helping other companies to move from local markets to international markets where they can make more profit. The assistance of the Alliance boots to Walgreen was a very helpful strategy. Among the lessons learned concerning the cross-border partnerships is that they are effective in assisting an organization to establish a foothold of new chances in external markets than they are in facilitating an organization to attain and maintain leadership of the global market (Thompson, Peteraf, Strickland, & Gamble, 2015).

References

Thompson, A. A., Peteraf, M. A., Strickland, A. J., & Gamble, J. E. (2015). Crafting and executing strategy: The quest for competitive advantage: Concepts and cases.

Frank, B. (2020, January 31). Walgreens boots alliance outlines growth strategy at the analyst meeting. Walgreens Boots Alliance. https://www.walgreensbootsalliance.com/news-media/press-releases/2015/walgreens-boots-alliance-outlines-growth-strategy-analyst-meeting

Howland, D. (2020, January 8). Walgreens centers strategy on cost cuts. Retail Dive. https://www.retaildive.com/news/walgreens-centers-strategy-on-cost-cuts/570045/

Kovaleski, D. (2020, January 23). Where will the Walgreens boots alliance be in 5 years? The Motley Fool. https://www.fool.com/investing/2020/01/23/where-will-walgreens-boots-alliance-be-in-5-years.aspx

Martin, S. (2015). Directory of shopping centers in the United States.

Pandey, D. (2017, June 7). Walgreens is building for future customer experiences. Think with Google. https://www.thinkwithgoogle.com/consumer-insights/consumer-trends/walgreens-digital-marketing-customer-experiences/