Current Marketing Condition PaperEssay Preview: Current Marketing Condition PaperReport this essayCurrent Market Conditions PaperTo analyze the current market value of the company Walgreen there are other topics that need to be addressed such as is included in this report. They are as follows:
Market StructureOver the past five years the private label over-the-counter (OTC) market is growing tremendously. The private label sector has an image of national brands and provides quality and innovation at a low cost price. Benefits are provided for retailers, consumers, and manufacturers to the point that private label healthcare growth should exceed solidly forever.
The U.S. market for OTC private label products has reported an in-depth analysisof the various performances of OTC private label drugs and healthcare products such as:Cough, Cold, Allergy & SinusAnalgesicsFirst AidAnti-SmokingGastrointestinalFoot CareContraceptives/Family PlanningSleeping AidsEye careMiscellaneous RemediesThere are sales figures for private label products that have branded products in each category to analyze the average unit pricing, consumer demographics details, private label products, reports and new products that are introduced by various retailers. The trends and issues are discussed to shape the private label market to show future growth. Additionally, there are major profiles of manufacturers and retailers that point to the major private label players with financial positions and new projects.
Methodology consists of reports that include a mixture of primary and secondary research. Primary finding research has been provided through two sources, Information Resources Inc. (IRI) and Simmons Market Research Bureau (SMRB). Those reports include materials provided from reports, news stories, company literature and documents. New product introductions were introduced by the ProductScan material during the period of January 2004 to October 2005. Consumer advertising expenditures estimates are derived from data compiled by the TNS Media Intelligence of strategic advertising and communications intelligence through marketing.
Trade association publications, business journals, government agencies, and other publicly available information are provided through secondary services. These services involve comprehensive research of secondary sources such as company literature, databases, investment reports and reports in medical and business journals.
Impact of new companies entering the marketLast year, CVS gained equal footing surpassing Walgreens through its acquisition in August 2004, whereby Eckerd Southern half of the chain allowed CVS to recognize Walgreens has been the leading player in the market. A year earlier CVS store count progressed to 125 units from nine original stores. This made the market share rise to an exceeding 36 percent. In comparison, Walgreens stores increased to about 10, which led the year ending with 103 stores yeilding a 31 percent portion of the local drug store market.
Walgreens was the recognized leader in the state prior to CVS gaining of Eckerd in the Tampa Bay area, realizing that Eckerd had more stores. During, and at the end of the fiscal year Aug. 31, 2004, Walgreens operated 630 of its 4,579 stores in Florida.
PricesBuy prescription drugs from CanadaIt is cheaper to purchase drugs in Canada at a rate of 20 to 80 percent cheaper than in America. Canada has a worldwide health care plan making it the most prosperous. Canadian government controls the bargaining power over the drug manufacturers at negotiation price. There is a price control system in place in Canada. Pharmaceutical prices are reviewed by the Patented Medicine Prices Review Board for the prices of medicine and patented drugs.
Canadian lower dollar, when it comes to money makes drugs much cheaper in Canada, as well. Canadian money is 25% below the money in the U.S. This is why they trade like they do.
You can not market your products directly in Canada to consumers from drug companies. Drug companies have been allowed the so-called direct-to-consumer marketing in the US, since 1997. This costs over $3.8 billion a year in advertising, which is passed on to the consumer.
Lets notice some pertinent price differential between Canada and Walgreens which is one of the USs biggest drug store –MedicationUSCanPharmacyWalgreens*SavingYearlyCelebrex 100mg$68.75$180.32$446.28Glucophage 850mg$30.67$145.99$461.28Lipitor 20mg$198.00$296.40$393.60Nexium 20mg$194.40$362.14$670.96Prevacid 15mg$220.00$419.97$799.88Zocor 20mg$220.00$399.97$719.88ProductivityWalgreens productivity is enhanced by Assistive Technology. The Wyeth Corporation is a major international company that values diversity in the workforce. Wyeth goal is to create a work environment that has productivity that is optimistic. The company recruits by observing the performance of an employee on an individual basis. Every employee is chosen by their work environment and motivated as such to determine their value. Total reliability is to technology that helps an employee surpass their physical limitations to a high potential on the
Our team is trained in three areas to develop, develop, and improve technology, which is an integral part of our organization ethos. This includes both current challenges to technological change, as well as the evolving challenges to changing values of individuals.
As the technology is more integrated, we are able to reduce the complexity of developing technology.
As new technologies are introduced and more innovative ways of adapting to changing expectations, the impact of change will be felt over time. This is also the key factor in a business planning strategy.
At Wyeth we believe in the strength and flexibility of our technology, which includes:
Productivity as an essential part of our culture, our social media systems, our internal management team and our software and development practices. The importance of this is demonstrated by the growth in the number of employees at many of our company’s major tech companies from more than 1.5 million to more than 11 million over the last 7 months.
There are a wide range of employees and customers who are impacted by a technology change including health care providers, doctors and nurses, and others. We recognize the critical role of the individual that is affected including those in our company from health professions, to the education systems at colleges, and others.
With the exception of physicians, we believe in offering a flexible, flexible work schedule, with flexible scheduling, for employees from multiple sectors in our industry, across the industry.
While we believe we deliver an innovative and flexible work schedule that reflects our vision within our company, our technology platform, and our mission, our employees do not want to work in a business where they are all set on one goal – to achieve and exceed that goal.
Employee satisfaction is the key factor at our company, and we have taken steps to ensure the number of employees participating in every part of the work day is always low.
Work hours for our employees are assigned based on their current workload, based on the team’s experience at the company and their job characteristics, on their past work behavior, and the team’s progress. They are assigned different work hours to those of other stakeholders in the company.
Employees will also use Workforce Management to assist managers with performance and training. We want them to feel that the work they work day in and day out has great value and results and that the work they’re paid to do represents what’s best for the organization.
If there is conflict with the employee and the work they’re paid to do, they are encouraged to make the best work possible for themselves and other team members, and work to achieve more, in the same spirit of sharing.
Employee compensation is based on an employee’s contribution to a specific employee group, and does not change based on one’s contributions to each group. Some contributions are based on financial contribution, and some contributions are based on work experience or experience that reflects what they have accomplished as a company employee.
We provide employee compensation in the following ways:
Work hours, by their contribution to a specific group or group of employees
Work hours earned based on an employee’s contribution to that group or group
The amount of work done by one person and