County Notebook Market Audit (Brazil)

876 Words4 Pages
II. The Product A. Evaluation of the product as an innovation as it is perceived by the intended market 1. Relative Advantage CVS owns Caremark, a Pharmacy Benefit Manager, and works with them to provide faster service to customers. The tandem of CVS and Caremark also allows customers to save money, setting CVS apart from competition. In addition to the speed provided by Caremark, CVS uses the ExtraCare loyalty program, which offers repeat customers special savings. CVS’s loyalty program offers various ways for frequent customers to earn rewards for filling prescriptions and/or making healthy decisions. The program is in extremely successfully in the United States, boasting over 70 million members. CVS recently incorporated beauty products and over the counter health products into the rewards program. The ExtraCare program differs from others’ because it is personalized. CVS allows customers to opt into the parts of the program that are most important to them. The ExtraCare program also offers personalized overall shopping experience. It uses personalized a digital advertising initiative that includes customers’ prescriptions and individually tailored offerings based on shopping history. This personalization sets CVS apart from its competitors. 2. Compatibility The basics of the product are compatible with the current pharmaceutical retail market in Brazil. CVS offers similar products as the current convenience stores in Brazil including a range of hygiene, health and beauty products. Much of CVS’s success in the U.S. is due to its ability to offer its product quickly and conveniently. While speed is imperative in the U.S, it is not as important in Brazil. Robert Levine wrote “The Pace of Life in 31 Countries” ranking the overall speed of life in various countries around the world. Levine ranked the

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