Cvs Caremark Essay

1167 Words Dec 25th, 2013 5 Pages
CVS CAREMARK
November 25, 2013
Belinda Merritt
Michael Curtis

Introduction CVS was founded in 1963 by Stanley and Sidney Goldstein and Ralph Hoagland. The first CVS store was opened in Lowell, MA. CVS stands for Consumer Value Stores. CVS Caremark is headquartered in Woonsocket, RI and the pharmacy services are currently headquartered in Nashville, TN. Within one year, the CV chain grew from one store to seventeen stores. By 1967, CVS opened its first pharmacy location. These locations were opened in Warwick and Cumberland, Rhode Island. CVS pharmacy provides services through the 7,000 retail stores within the United States. CVS has also expanded its business to include pharmacy benefit management, mail order as well as
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Advertisement is important because it speaks to your targeted audience and it also sells your product. (www.smallbusiness.chron.com 2013). Advertisement is one of the first forms of contact and outreach the organization makes with the company.
The economy is also an external factor that influences the organization. The economy is important to the organization because it plays a crucial part in the pricing of stocks. The economy also has a major effect on the organization because it also controls the revenue that comes into the company. For the retail business, this also affects the pricing of the products, supply and demand. Supply and demand can be defined as the effect that the availability of a particular product and the desire for that product has on price (www.investopedia.com 2013). In times of a rough economy, customers will allocate their resources to different places in an attempt to save money. This will cause an overage in supply and a decrease in demand which will cause prices to decrease to attract the customers to purchase the product. Effects of demand for more accountability Silverscript Insurance, the pharmacy benefit management plan under CVS Caremark, was recently sanctioned by CMS. The immediate sanction was imposed on CVS Caremark SSI plan effective January 15, 2013. This was in response to numerous complaints from the members. The sanction was imposed due to widespread data system

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