CVS analysis Essay Example

CVS Pharmacy Logo Analysis

There has been a significant evolution of logos for different types of companies not only in the United States of America but the world over. Such companies as Starbucks and Walmart have engaged in the logo improvisation process in order to revamp their operations and brand image as well. CVS Pharmacy’s logo has however remained to be static over the period for which the company first embarked with operations in 1963. The firm was first named as Consumer Value Store hence explaining the way of the Logo as seen below;

The logo has the names CVS, which stands for Consumer Value Store and a heptagon image before it. The image takes the form of a love symbol, which is an indication of the company’s strive to care for its customers. The logo is entirely of red colour, which is associated with impulsive shoppers and sometimes adopted for purposes of creating urgency in activities related to clearance sales (Bottomley & Doyle, 2006). It is important to note that the entity was previously engaged in the sale of prescription drugs but it has extended its activities into sale of beauty products as well as gift gifts hence the name CVS. A revamp of the logo is specifically needed because the word pharmacy limits the scope of products and services provided at the entity as a whole.

SWOT Analysis

Strengths

• The entity is currently enjoying a robust brand image reputation, which serves to attract even more customers as a whole

• The firm enjoys a robust and experienced staffing personnel that portrays a wide-range of expertise knowledge. This set of experience and knowledge fairly positions the entity above its immediate competitors as it attracts more customers.

• The entity enjoys a great deal of most of the items being in stock. Considering the fact that CVS Pharmacy is the largest pharmacy corporation in the US in terms of revenues and size; then it means that it enjoys lots of stocks for which customers can choose from.

• By the end of 2016, the firm had a total of 9,600 store locations, which indicates that customers have the option of visiting nearby locations for their prescription drugs as well as other consumer valuables.

Weaknesses

• The entity incorporates lots of other products that are not related to pharmaceutical products like gift cards. This will likely prevent potential sales of these products out of inadequate marketing camapigns towards popularisation of these products.

• The company cannot easily adopt an online platform for commerce since it is highly dependent on selling of prescription drugs that require physical presence of customers.

Opportunities

• The company can adopt a new logo design for purposes of improving on its current sales growth levels.

• The company has the opportunity of formulating even new advertising campaigns with a focus on creating awareness of the different products and services like gift cards and beauty products to enhance brand awareness.

• There is an opportunity to engage in enhanced product knowledge by way of training the existing employees of current product portfolio

• The current shopping behaviour is slightly tilted towards a generation that prefer online shopping than physical stores, which will likely create an issue.

• There is also increased level of competition in the sector.

References

Bottomley, P. A., & Doyle, J. R. (2006). The interactive effects of colors and products on perceptions of brand logo appropriateness. Marketing Theory, 6(1), 63-83