I recently heard a radio advertisement for a pharmacy promoting a new service of providing flu vaccinations. The service is a low fixed price and certainly sounded like a compelling offer.
This additional service is likely to result in increased revenue for the pharmacy and chip away at a service that has traditionally been undertaken by a general practitioner.
This kind of “value add” service is a great example of a strategy that could lead to increased sales across the board, increase awareness of the pharmacy’s brand in the marketplace and ultimately this approach can lead to an increased valuation of a pharmacy practice.
I also find this concept interesting given that at less than $20 per vaccination, and the assumed cost of the radio advertising, the pharmacies running the promotion must be expecting thousands of people to take up the offer.