Magazine article Drug Topics

Knowing Your Market Helps

Magazine article Drug Topics

Knowing Your Market Helps

Article excerpt

Larry Cohen has several competitors to contend with-a CVS a block away, a Brooks another block away, and Stop & Shop yet another block away. But his Park Avenue Pharmacy is competing just fine, thank you. Probably because he understands his market and caters to it shamelessly. "Because we have a graying population, I've cut down a lot on cosmetics and am doing more in the area of braces and walkers and home health care. We must have a hundred different kinds of canes in the store."

in addition to in-store circulars, flyers, and newspaper ads for private-label vitamins, Cohen relies heavily on public radio advertising. Perhaps most effective with this customer group are his small promotional touches. "We put little Tootsie Rolls in every prescription bag. People love that."

And when the pharmacy sends out its 700 monthly in-house charge bills, they enclose a sheet of Reader's Digest-type humor. "People have told me they're never going to pay cash in our store again, just so they can receive the jokes. …

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