WBAs Competitor Analysis

Focus Area

Competitor 1:

CVS

Competitor 2:

Walmart

Competitor 3:

Trulieve

Objectives

Incorporate innovative healthcare service delivery options for their customers (CVS Mission Statement 2022 | CVS Mission & Vision Analysis, 2022).

Linking its clients to optimal healthcare plans.

Create treatment plans that are unique to its customers.

Providing quality healthcare through using quality drugs for patients’ treatment (CVS Mission Statement 2022 | CVS Mission & Vision Analysis, 2022).

Improve community unity by providing job opportunities and goods for diverse demographic groups (Gupta, 2016).

Improve sustainability by reducing organizational waste.

Provide goods and services that are safe for consumer consumption.

Use technological advancements to receive feedback from customers and suppliers on the products and service delivery (Gupta, 2016).

Engage in philanthropic activities to improve other lives and community relations.

To provide opportunities for growth to suppliers (Cannabis Dispensaries | Trulieve, 2022).

To provide a variety of quality products to consumers (Cannabis Dispensaries | Trulieve, 2022).

To educate the community on the health benefits of medical cannabis (Cannabis Dispensaries | Trulieve, 2022).

To minimize the water the organization uses to reduce energy and environmental sustainability (Cannabis Dispensaries | Trulieve, 2022).

Creating quality customer relations through providing high-quality cannabis products (Cannabis Dispensaries | Trulieve, 2022).

Assumptions

Encouraging the use of generic healthcare tools and drugs will reduce healthcare costs.

There will be a long-term need for beauty and healthcare products.

Most households and healthcare brands prefer to trade with the CVS brand (Woong & Goh, 2021).

Employees contribute to the high customer loyalty in their branches.

The lower price strategy will continually assure the loyalty and variety of customers.

Entry of new branches into the retailing industry is independent of the blanket retail organization (JSTOR: Access Check, 2022).

Dominating states with a high population will translate to the company's market and sales.

The education on the positive effects of cannabis will overshadow the adverse effects of the drug if it’s misused.

Current and past market pool trends increase, and sales increase will predict the organization's financial state in the future (Corp., 2022).

Strategies

Continual reminder to the investors and staff of the company's goal, mission, and vision (CVS Mission Statement 2022 | CVS Mission & Vision Analysis, 2022).

Improving their omnichannel services, such as online and physical shopping from their stores (Our Strategy, 2022).

Incorporation of a technology-first approach (Our Strategy, 2022).

Improving their retail locations to act as primary healthcare service hubs (Our Strategy, 2022).

Receiving healthcare products at discounted prices from manufacturers and their suppliers (Langley, 2018). 

Competent staff in the marketing department to increase the market pool and sales.

Being at par in inventory taking (Gupta, 2016).

Providing products from a wide range of manufacturers so that customers don’t use substitute products from other retailers (Gupta, 2016).

Using the "Everyday Low Price" for their customers to provide goods at a lower price than competitors (Gupta, 2016).

Using e-commerce attracts a wide variety of customers (Gupta, 2016).

Trulieve has well-known partners with powerful brands that increase the popularity of organizational products (ESG & DEI Initiatives, 2021).

Multiple branches countrywide to increase consumer access to organizational products (Cannabis Dispensaries | Trulieve, 2022).

Numerous product distribution channels for the retailing function of the organization (Cannabis Dispensaries | Trulieve, 2022).

Capabilities and Resources

Innovative new products with generics are hard to reproduce by competitors (Langley, 2018).

Production of a wide range of products, including beauty, health, and vitamins (Langley, 2018).

Competent staff that offers optimal services to the brand’s consumers.

A strong market is created through the diverse marketing skills employed.

Wide network of suppliers and brands that supply materials for Walmart to retail (Repko, 2021).

Competent staff researches the market to gather techniques that improve the industry's operations (Repko, 2021).

Strong bargaining power implies that they partially control the prices they pay for the products they retail (Repko, 2021).

The e-commerce and the mobile app enable the retail brand to attract physical and online customers (Repko, 2021).

The industry has numerous distribution channels (physical stores), which implies a high market presence, desirable for business prosperity (Repko, 2021).

A pool of well-known partners with recognized brands in America (ESG & DEI Initiatives, 2021).

Specialized communication with their patients through the different ways that various consumers pass information (ESG & DEI Initiatives, 2021).

Continual staff training provides customers with the best shopping and medical experience (ESG & DEI Initiatives, 2021).

Response

Introduction of tools that pharmacies and doctors can use to gauge the transparency of patients' drug affordability (Langley, 2018).

The company will use diverse marketing strategies incorporating various demographics such as race, income gaps, and gender.

The company will incorporate automatic refills for customers’ drugs.

Walmart will expand its operations to retail healthcare products (Repko, 2021).

Walmart will increase the use of technology to deliver products to customers' houses (Repko, 2021).

Walmart will increase its partnerships to deal with the increasing online shopping and home delivery requests (Repko, 2021).

To increase the number of new and innovative existing markets to expand retailing function and maintain a market presence for better consumer relations (Cannabis Dispensaries | Trulieve, 2022.

To promote a more sustainably-running organization (Cannabis Dispensaries | Trulieve, 2022.

To increase the number of dispensaries and cultivation facilities across states with higher populations in the United States (Bryant, 2021).