In terms of
developing a new product(s), little can be said about Duane Reade. Duane Reade
is a retail and chain-store popularly known to be a drug store. As of today,
Duane Reade is seen beyond just ordinary drug store, it now offers different
product assortments based on much broader concept. As being discussed
previously, Duane Reade does not
conceptualized its market activities on
developing new products, instead uses "market concept"; a philosophy to
carry out its operations. And as a matter of fact, this has been a key success
to its market dominance, achieving organizational goals and gaining competitive
advantage i.e. by creating, offering, delivering and communicating customer
value and needs to its targeted customers. According to a statement made on its
website, " In our fast-paced, hands on retail environment our
opportunities include everything from store associates to beauty advisors to store
management".
Private Labeling
In effort to
further seek a dominant market share, Duane Reade embarked on a new strategic
alliance with CBX;
a strategic branding company, to build upon Daune Reade's new Image. The
purpose of this alliance, is for CBX to "provide input into Duane Reade’s
private brand architecture, and designed its private label brand imagery and
packaging systems". Also to help “revamp the loyalty card brand image and
collateral material". According to Todd Maute, Managing Partner, CBX, the
mission statement for this strategic alliance is to "broaden Duane Reade’s
private brand product appeal, enhancing its position as the preferred store for
New Yorkers and further bringing to life the brand’s new positioning ‘New York
Living Made Easy".
Duane Reade Private Labeling
With
the help of CBX collaborating with several retailers on “multiple fronts”, it
has strongly strengthened the good relationship of Duane Reade and its customers/ consumers. According to this affirmative statement made on its
website “The New York marketplace breeds it own type of shoppers. And retailer
Duane Reade knows exactly who they are, what they need, and how they like to
shop. With more than 250 locations in New York and its surrounding boroughs,
and a dominant market share, Duane Reade sought to further develop its position
and product offering specifically for this shopper and wrapped in a New York
iconic style".