Below are some of the attributes I touched on in a past discussion post. In this Module, it will be based off of Milestone One and the unique idea of a new service from Walgreens.
I chose to work with the corporation of Walgreens Boots Alliance, which is a pharmacy-led health and well-being retail drugstore chain company. This company sparked my interest when I became involved and learned more in depth as a Community Management Intern during my college years. I quickly realized the innovation, growth and involvement they constantly invested in. They have seen success as they have merged with Alliance Boots, increased revenues, and have strong capabilities within omni-channels. They have recently acquired RiteAid and continuing to look into other companies.
As they are looking to grow and expand, I believe they have opportunity to spread into a larger target market and increase their selections and distribution channels. Tailoring different stories to drive loyalty among-st customers, and sales.
Strengths: As Walgreens has grown and integrated their operations span across multiple channels, they have the strength of a variety of professionals. Together they have a global enterprise and network of retail, health and daily living firms. Not only creating a diversified and robust profit pools across Us, Europe and key markets but key resources(the professionals) to collaborate in their continuous expansion, and helping address growing health and wellness challenges worldwide.
Weaknesses: Walgreens as a company runs off of customer satisfaction, and enticed customer loyalty. In order to provide such, they need to obtain the best, most qualified employees. Walgreens as a company has intense competition, where customer interactions, and satisfaction become crucial. Along with downward pressure in each employees choices and actions with scare of a decline in customer base without. As working internally I have grown to learn this is a weakness in the typical hire of Walgreens. Where the average employee is either of older generation or high school student. Where in the past they have promoted from within- they have begun to look for college students or graduates to increase the quality, commitment and production of employees (M., 2018).
Strengths: As Walgreens has merged throughout multiple channels, they have acquired retail stores, mail-order, online and mobile application (M., 2018) Therefor it has been providing variety to 12,822 retail stores, offering prescription mail services, numerous distribution centers and online portals or applications for ease of product access for customers. In fiscal year of 2017, Walgreens was up to 88.2 million balance rewards members (M., 2018). Where they have built their loyalty, they can use for success stories to continue to grow as they expand with their variety for several target markets.
Weaknesses: Due to the fact that there is intense competition, they are constantly fighting head to head with those also creating strategic alliances and innovative products. The company’s retail pharmacy has local, regional national and global competitors. Where Walgreens should focus on strengthening their distribution network in the US with developing multiple marketing communications (M., 2018). This can strengthen its pharmaceutical business channel as well as better promote their relationship marketing, public affairs and all around media relations and communications for its retail and wholesales business and its health and beauty product brands (M., 2018).
Strengths: Due to the fact that the company is spread amongst multiple channels, Walgreens Boots Alliance has the strength of providing an extensive omni-channel capabilities allowing the company to be diverse in their revenue sources and products (M., 2018). There has also been implementations of portals to enable customer convenience and satisfaction. All around providing variety and quality service.
Weaknesses: In the past Walgreens has had some instances where there has been a dependence on external sources in conducting manufacturing operations, limiting direct control on quality of products. As a result, they have experienced many market recalls due to regulatory non-compliance or poor packaging and label quality, and others. With this, it then becomes a weakness against their reputation. They look to provide customers quick transactions within their stores, with purchases they need. As these are quick purchases, customers should not worry about quality of a recall on certain product. Such product recalls have a negative impact on the company’s brand image and decreasing the customers’ confidence in the company (M., 2018) – with the potential to them avoiding purchasing from Walgreens as a company.