What is “CVS Health” challengers and opportunities|My homework aider
Posted: February 26th, 2023
What is “CVS Health” challengers and opportunities?
This is the proposal that I wrote and professor approved, please use the the following two paragraph for guide and expand these ideas or other ideas that you have for two pages. no need to introduce what is cvs health for the beginning.
“In the next few years, CVS will have to prove itself to customers as COVID-19 demands decrease. They must find ways to retain them as many of the stores’ foot traffic was related to pandemic services over the past few years. As covid continues to become less of a threat to the public, the company will have to remind everyone of its original positioning as a health-care destination. Traditionally, CVS has been known as a brick and mortar, one-stop shop, for all things health, wellness, and beauty across the United States. However, due to the events of 2020 and the rise of e-commerce, this top 10 Fortune 500 company has found itself at a sort of crossroads. CVS’ strategy is to Reshape “health care to make healthier happen for more Americans.” In other words, their strategy is to constantly innovate how healthcare is delivered, so that it can constantly be convenient and accessible to their customers. Previously, this convenience came through their retail stores with embedded pharmacies. To meet the demand of today’s rapidly-changing healthcare industry and to be positioned as an actual healthcare company, accessibility and convenience has had to take into account online retail, telehealth, and while also expanding its healthcare services.
One of CVS’s many opportunities is to leverage its acquisition of Signify Health & Aetna, and integrate at-home health services while also merging their health insurance services with its retail offerings. As well as, creating a space for community engagement by promoting health and wellness through programs like educational resource fairs at local parks, recreation centers, and schools. CVS can also explore new markets such as international expansion. Lastly, they can continue their efforts in e-commerce but expand their capabilities to reach a larger consumer base and offer a more convenient shopping experience. By capitalizing on these opportunities, CVS can position itself as a leader in the healthcare and retail industries and drive long-term growth and success.”
SOLUTION
CVS Health is a Fortune 500 company that offers a broad range of healthcare services and retail products. However, the company has been facing numerous challenges over the years, and it must find new ways to stay relevant in the healthcare industry. One of the primary challenges that CVS Health faces is to prove its worth to customers as COVID-19 demands decrease. As the pandemic subsides, the company must focus on retaining customers as many of its foot traffic was related to pandemic services. CVS must remind everyone of its original positioning as a health-care destination and come up with new ways to make healthcare convenient and accessible to their customers.
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