Week One Business Checkpoint Essay

Category: Managing,
Published: 30.12.2019 | Words: 411 | Views: 697
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Consider a local organization whose solutions you frequently use. Exactly what are the main components of this company’s business model? Set a 200- to 300-word response describing the three components of the company system that comprise the area business you selected. Work with Figure 1 . 2 in p. eleven of Summary of Business as a reference.

The neighborhood business I select is CVS Pharmacy. CVS Pharmacy is known as a big competition to Walgreens here in Illinois. The main components CVS Drug-store uses like a business model are competition, advertising and marketing, and the laws of source and require. Since this store’s biggest income area is a pharmacy office they are forever in competition with Walgreens. These two are anywhere from each other but are the only two pharmacies to supply three towns which have been in this area.

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The next closest chemist is Wal-Mart twenty miles away. CVS competes to offer the lowest rates to receive all the organization instead of Walgreens. CVS promotes that they guess Walgreens rates by carrying generic medication to help lower prices.

CVS puts out weekly advertisements so persons know what they may have at all times. Also this is used to put special sale prices out there to attract more people in. This week in their advertisements says if you do buy four 14 packs of soda you can get them intended for $2.

60 each. When ever soda generally goes for $5 a 12 pack this can be already quite a lot, then they include if you use the CVS greeting card you get $2 added bonus buck again which can be utilized for anything shopping. This is a great way to let people know they can keep up with more inventory and fewer buyers. The managers of CVS know that they can be not the only pharmacy around so they help keep medicines in stock to hold the supplies up when the demands are needed. I was talking to the Pharmacist recently and the girl told me the pc tracks what medicines will be bought and just how often they use that to keep supplies on hand to satisfy the demands.

Adding medicine a side additionally they supply milk, cereal, soda pop, make-up, and liquor. These are all things that people frequently want to seize all in one stop so it is a little more expensive but the supply perhaps there is and the requirements are attained. Search