Retail Lesson Discuss the CVS Extra Care Essay

Retail Lesson

Discuss the CVS Extra Care loyalty program and whether the program is a source of shopper insights that can be leveraged in multiple ways to be successful.

The CVS loyalty program demonstrates the utility of such a system. In this program, rewards are offered to customers who demonstrate a tendancy to return to CVS for their retail products. According to their website, " every time you make a purchase, either online or in store you'll earn Extra Care customer rewards or Extra Bucks." CVS will attain a competitive advantage if this program does the following to leverage success: the system must be designed to increase profit margin regardless of the verbage attached to the program. A good deal is relative and as long as the consumer feels as if something is offered for free, profit margins may be manipulated with different products to maximize gains and limit losses.Recommend how Kroger should tailor its retailing strategy to take into account the seven main segmentation groups it has identified.

Neil (2009) illuminated some key points about Kroger's retailing strategy in its push to infiltrate the seven main segments it has identified; " Kroger is once again embracing innovation and technology to sustain its leadership position in the grocery space." Segmenting the market, and approaching market share in a piecemeal fashion allows for deliberate planning and focused attention. The use of mobile phones and their ability to reach out to large portions of these segments aligns their marketing strategy with their mission statement will fuse these principles together to help determine the best outcomes for this organization.

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