Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of CVS Caremark analyses the brand by its strengths, weaknesses, opportunities & threats. In CVS Caremark SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like CVS Caremark to benchmark its business & performance as compared to the competitors. CVS Caremark is one of the leading brands in the lifestyle and retail sector.
The article below lists the CVS Caremark SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the CVS Caremark SWOT Analysis:
For CVS Caremark, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
CVS Caremark Strengths
The strengths of CVS Caremark looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of CVS Caremark :
1. CVS Caremark has a strong presence in health and beauty products
2. Variety of products offered including medicines, healthcare, skincare, beauty products etc
3. Strong worldwide distribution channels
4. Good market position and financially stable company
5. With more than 9,000 CVS Pharmacy and specialty pharmacy locations in 40+ US states
6. CVS Caremark has more than 200,000 employees
7. Strong financial performance of the company over the years
CVS Caremark Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the CVS Caremark SWOT Analysis:
1. CVS's past controversies due to allegations in business practices hurt its image
2. Despite being a big company, brand recall is less compared to industry leaders
CVS Caremark Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in CVS Caremark SWOT Analysis:
1. Entering into home care products can boost CVS Caremark
2. Increasing domestic presence with increasing population
3. Tapping global markets with tie-ups and collborations
CVS Caremark Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of CVS Caremark are as mentioned:
1. People unaware of different pharmaceutical products
2. Global competition from rivals in pharmaceutical industry
3. Government policies and regulations on medicines can disrupt CVS Pharmacy's business
CVS Caremark Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 6 competitors of CVS Caremark:
CVS Caremark offers excellent customer value through its services
CVS Caremark STP
Health conscious group
Doctors and home maker, Middle class and upper middle class
CVS Caremark offers value service for customers at its retail stores as it stands for Convenience, Value & Service
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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