Since arriving at CVS Caremark Corp., Robert Price has raised the bar for pharmaceutical promotions, utilizing entertainment and multimedia campaigns to bring his company recognition in the marketing industry as well as increased sales and profits.
After joining CVS in 2006, Price looked beyond traditional modes of advertising to promote his company’s products and worked to expand CVS’ marketing strategies to include branded entertainment partnerships. Price secured promotions for CVS products on such television programs as “Extreme Makeover: Home Edition,” “The Doctors, “Good Morning America” and “The People’s Choice Awards.” These initiatives helped CVS to secure a designation from Nielsen as the most effective brand integration of 2008.
Price’s promotional work has secured more than just awards, however. Under his leadership, CVS experienced steady retail sales growth of 5.1 percent from the time of his hiring through the third quarter of 2008, as well as increases in gross and operational profits.
A graduate of Cornell University and a National Scholar, Price holds a B.S. in agricultural economics and an MBA from Harvard University. His executive credentials, however, are as impressive as his academic ones. Upon leaving Harvard, Price worked for the Texas-based H-E-B Grocery Company, where he rose to the position of vice president of marketing in 2002.
Before arriving at CVS, Price served as senior vice president and chief marketing officer for the convenience store giant Wawa from 2003 to 2006, during which time he also taught as a guest faculty member at the University of Pennsylvania’s Wharton School.
Aside from his work in the marketing industry, Price has been an active community leader. Last year he served as the chairman of the 2008 CVS Caremark United Way Campaign, which raised more than $1.2 million to be used in community programs. •
