Crafting Business Strategy

A great business strategy can do wonders for a company if done correctly. CVS was the first major pharmacy to offer a customer loyalty card, and has enjoyed the success for the last 17 years. Chapter 6 mentions companies categorized as first movers, fast followers, and habitually late movers. In the case of the customer loyalty card, CVS was a first mover; followed by the second mover, Rite AID, then the habitually late mover in Walgreens. Walgreens did not adopt the loyalty card until two years ago, 15 years after CVS. CVS leads all pharmacies in annual prescriptions filled and the loyalty card is a big reason for their success. The card offers customers coupons and discount based on how many prescriptions are filled.