CVS banning of tobacco sales is a BIG move. Don’t blow this.
Tom Dougherty, CEO – Stealing Share
3 September 2014
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.”
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.
Nextdoor Tom Dougherty, CEO - Stealing Share 11 December 2018 Use Nextdoor, get rid of Facebook About a year or so ago, I kissed Facebook goodbye. Much to my surprise, it’s making me use NextDoor more. My withdrawal from online communities probably isn’t a shocker...
Brand Purpose Tom Dougherty, CEO - Stealing Share 10 December 2018 Brand purpose is not what many think it is So, the marketing term of the year is Brand Purpose, as chosen by the Association of National Advertisers. And what do they use to demonstrate such a term...
Retail market changes Tom Dougherty, CEO - Stealing Share 6 December 2018 Retail market changes are akin to climate change Are you paying attention to the many retail market changes? I am. Some fundamental changes are afoot. I believe the days of large generalized...