Store Locations of Walgreens - Essay Example

Walgreens had established its since 1901 if we are to deal with pharmacy, technology and convenience in meeting the demands of American Market. Several stores were installed to make the establishment accessible to the people. Upon analyzing the "niche" of the company, the stereotype that the company installs its branches in feasible areas would not be avoided. However, in dealing with feasibility, location seems to be a major factor. It is an established fact that in a certain location, it is important to consider the volume of customers, the marketability of the location and the profitability of it in dealing with the location of the store. To further deal with the marketability of the location, with regards to the aforementioned pharmacy, obtaining location and marketability data from two of its branches is a perfect barometer in determining how the location of the said establishment is essential in determining the feasibility of it. This study focuses on two selected branches of Walgreens in Miami and how will those branches show profitability and compliance with several criteria on why these locations were selected among others. Furthermore, this study aims to establish that location is indeed one of the most important factors to consider in putting-up a business enterprise in dealing with the marketability and profitability of the company. By analyzing two selected branches of Walgreens with regards to location, it would be possible to track the strong and weak points of the establishment with regards to its location and how this element affects the over-all standing of a certain business. Branch # 1- 1 E Flagler St, Miami, FL - 0.00mi This branch is situated almost in the center of Miami, Florida. If we are to look on the map provided below 1, it is established that the store is situated at the center of busy streets and thoroughfares which is specifically a good location on the basis that a lot of people passes these streets a day after the other and with this, the establishment is visible to the people who are looking for the goods and services the branch offers. In this case, it is important to know that there are people who in several circumstances would just pass by this street and be able to see the goods and services of the store and eventually become interested on the goods and services that the store offers. A certain commercial online real estate described this location between Footlocker and Burdines Department store; this store will draw from both the local resident and daytime population, and the foreign tourists and more than 25 million cruise line passengers visiting Miami annually2. The description alone of the website would give the idea that the place is indeed visited by different people of different classification in which the store has a huge opportunity of being seen and visited by people because of its accessibility to the customers. However, analyzing the goods and services that Walgreens offer, it is very important to know, how many of these people would avail the goods and services it gives In other words, how many customers the store would be able to obtain from those people who manage to pass the location where the branch is located In these cases, it is also important to know the classification of the location in order to know if the place is indeed marketable for this enterprise to click and prosper. If we are to analyze, there are several hospitals and allied services in Florida that are located in the aforementioned street and would be an important factor for the said branch to obtain customers. It is established that these institutions needs the services of the said branch and therefore, the marketability of the branch is now clearer and established. The likes of Miami Children's Hospital, Mercy Hospital, Miami Heart Institute and Medical Center and other hospitals boost the chances of the said branch to penetrate the market with regards to the goods and services it offers. Also, the location is an ideal one as the aforementioned premises are enough to consider that the location is not limited to the people who are needing immediate needs with regards to the goods and services that the stores offer but also to the people who managed to pass by and enter the establishment for them to be able to look into the offerings of the said establishment which would later prompt them to avail the goods and services that the store offers. To add to that, the proximity of a naval yard near the area is also a plus factor for the location of the branch. It would be possible that in case of emergency, personnel that are included in the latter would be able to access the store immediately and with this, it would be possible for the store to also penetrate the Navy as a market and consider the total number of personnel present in the area as potential individual market of the store. Having these data ensures that the location is indeed feasible for the branch of this business to prosper. Branch # 2- Harvard St, Boston, MA This branch is situated in the street where one of the most reputable schools in the world lies. Knowing such a location, the store is ideal in the sense that its probable market would be the number of students and faculties in that University. Here, the analysis that Paramedical students and personnel are the main target or prospect of the branch since these people would need goods and services that the company offers. It is better to know that the other students and personnel are potential clients that would be catered in the future should the needs of the aforementioned goods and services arise. Also, the Boston headquarters has different laboratories to determine different illnesses and would also serve as extension of studies for paramedical students who would need such equipment. The clinic and the Branch in this area are called Joslin Clinic. The website of the branch described the clinic as "pioneered and continues to set the standards for much of today's specialty diabetes care. Some of the most important historical discoveries and improvements in diabetes care-from the first diabetes nurse educators, to saving eyesight through laser surgery, to clinical measures that enable women with diabetes to have well managed pregnancies-were developed at Joslin. The 300 scientists at Joslin studying everything from stem cells to genetics to obesity represent the most comprehensive and dynamic research program dedicated exclusively to diabetes anywhere in the world. Nowhere else can you find less than one roof such a breadth of diabetes research focused on type 1 and type 2 diabetes and their complications 3". Aside from its proximity to different schools in Boston, its distinction and specialization as a center for diabetic research is a thing, which cannot be taken for granted in terms of having a favorable market in this location. In this case, the potential market would go into the location because of the specialization it offers. Secondly, Boston houses different factories and enterprises that are inclined with sweet substances in which people living in this area could have their blood sugar checked based on the lifestyle these people have in this place. The kind of services is needed on places where people do have busy schedule such as those who resides in Boston where one could consider that it is perhaps one if not the busiest place in United States. If we are to further deal with the location of this branch, Boston Square Houses the finest foods and restaurants in the area which could also trigger food-related diseases such as heart failure, diabetes, kidney/renal failure, if the eating habits of the people is not observed. In this kind of premise, establishing the presence of the said branch or establishment in the area is somewhat needed and would also be a venue of different health care programs, detections and treatments, which is a necessity on places such as the Harvard Street. Upon analyzing that the need of the people residing in this place of a store such as the Walgreens and Joslin Clinic, the location of the enterprise is also a marketable and feasible one- as it provides the healthcare services and goods accessible to the people. The other factor to be considered is the people residing in these two areas where these people could be considered as the regular market of these branches. It is an established fact that if the residents where the branches are located could be studied thoroughly, then the branches could establish connections within the area as well as to create regular customers within the area. Also, determining the number of the people within the area could help the branches analyze the marketing strategy of these branches. It cannot be discredited that in order for these branches to further endorse their products, knowing the needs of the people as well as classifying them by age, genders and other related parameters could help a lot in determining the strategy on how to penetrate these people. If we are to determine the number of population in these areas, then the establishment of concrete plan to penetrate the market, specifically, the people who are residing within the area. In order to determine the number of population, consulting the webpage http://www.census.gov/ would help determine the actual number of people residing in the area at present. In the year 2005, Harvard St. Boston has already a total of 559,034 constituents and last year has an increase of eight percent. In this case, the branch with regards to the people who are residing in the area would penetrate a part of the demographics. On the other hand, the 386,417-population count in Miami Florida could also help branch number one in obtaining favorable number of population residing in the street to obtain regular customer on the aforementioned branch 5. All in all, the installation and the location of the above mentioned stores in two different areas are manifestations of the other several stores of Walgreen that indeed, it is important to locate the business and know the classifications of the location in order to achieve the favorable result in terms of business perspective. Also, knowing your market and target people within the location is also an important thing to consider as the location is only an avenue to introduce and further showcase their offerings but determining the people within their area is also an important factor to consider. Location is indeed a backbone of the business. It is where the business resides and where the market tends to go. Knowing the proper location would enable a certain business enterprise to further explore business opportunities to the fullest and therefore, location should not be taken for granted. Upon analyzing the methods and the reasons of those branches to be situated in such places, there are certain holding factors why those branches exist on the aforementioned places. Because of these reasons, such establishments are patronized and obtain customers plus the fact that they have expanded their markets. Knowing the feasibility of the location is an important too and thing to consider for disregarding location would deprive a certain business to have " a place of its own.." Store locations must be studied thoroughly in order to enable stabilize the business and market opportunities of a certain enterprise. Table AS (map of Branch 1) Table 2 (map of Branch #2) Reference: 1) www.walgreens.com. February 28, 2007 3)https://www.walgreens.com. February 28, 2007 https://www.walgreens.com. /pharmacy/joslin/about.jsp;jsessionid=5YCNR5V3L4K2MCSJY2ZBVQQKJHDTE3MK 4) http://census.gov. February 28, 2007 < http://factfinder.census.gov/servlet/SAFFPopulation_event=Search&geo_id=16000US2507000&_geoContext=01000US%7C04000US25%7C16000US2507000&_street=Harvard+Street&_county=&_cityTown=Boston&_state=04000US25&_zip=&_lang=en&_sse=on&ActiveGeoDiv=search_by_address&_useEV=&pctxt=fph&pgsl=160&_submenuId=population_0&ds_name=null&_ci_nbr=null&qr_name=null®=null%3Anull&_keyword=&_industry=> 5)http://census.gov. February 28, 2007 < http://factfinder.census.gov/servlet/SAFFPopulation_event=Search&geo_id=16000US2507000&_geoContext=01000US%7C04000US25%7C05000US25025%7C16000US2507000%7C86000US02111%7C14000US25025070200&_street=E+Flagler+Street&_county=&_cityTown=Miami&_state=04000US12&_zip=&_lang=en&_sse=on&ActiveGeoDiv=search_by_address&_useEV=&pctxt=fph&pgsl=160&_submenuId=population_0&ds_name=null&_ci_nbr=null&qr_name=null®=null%3Anull&_keyword=&_industry=> Read More