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    Tom Dougherty CEO, Stealing Share

    Tom Dougherty is the President and CEO of Stealing Share, Inc., and has helped national and global brands such as Lexus, IKEA and Tide steal market share over his 25-year career.

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CVS banning tobacco. Shouldn’t CVS Get Completely Pregnant?

I read a story today about a follow up plan from CVS banning tobacco sales in its stores. “To bolster its image as a health care company, CVS will announce a corporate name change to CVS Health. Retail stores will still be called CVS/Pharmacy.”

CVS banning tobacco
The acronym CVS just means pharmacy

This is a prime example of a brand not taking advantage of its leadership.

I think I mentioned in the past that I took this same idea to Rite Aid over a decade ago. (Rite Aid was under different management then and it was like a meeting with The Sopranos.) Needless to say, they were not very interested in doing so.

So kudos to CVS for running with the new position. But, shame on you for not leveraging the move in a way that would steal market share.

You ABSOLUTELY need a name change and not simply a change of the company’s legal name. The pharmacy itself needs to rebrand.

I believe that your current customers will appreciate the move and that loyalty will increase based upon the new tobacco ban. But the goal should be to attract the competitor’s customers and they — not your customers – need to SEE the change and understand it. Right now, you are simply a meaningless three-letter acronym that means pharmacy.

Come on guys. CVS banning of tobacco sales is a BIG move. Don’t blow this.

One thought on “CVS banning tobacco. Shouldn’t CVS Get Completely Pregnant?

  1. Yes, this is notable but only a few will notice. It will take a more drastic change to get CVS out of its doldrums, where preference is built by being on the right side of the street.

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