CVS' Lesson: Let Your Brand Be Your Guide The pharmacy's decision to pull tobacco products offers an example to follow.

By Jim Joseph

Opinions expressed by Entrepreneur contributors are their own.

We need to thank CVS for giving us a very valuable business, branding and marketing lesson.

Let your brand be your guide.

As universally reported, CVS last week made a very bold decision to halt its sales of tobacco products, in support of its healthcare positioning. It is the place where you pick up solutions to your healthcare issues after all … or so seemed the rationale.

This couldn't have been an easy decision, with tobacco products providing an estimated $2 billion in sales a year. Those sales are likely to go somewhere, and not necessarily to be replaced by sales in other categories for the retailer. With any decision of this magnitude, I imagine it alienated some customers in the process as well, despite the outpouring of support in the media and on social media.

Related: CVS to Quit Selling Tobacco Products

But if you think about it, maybe this was an easy decision after all. When you really know what your brand is all about, then decisions like these are actually quite easy.

Whenever you face a key milestone in your business, you should simply look to how you've defined your brand to make your decisions. Make sure you're consistent with what you stand for, and make sure you're consistent with what your customers want. If you keep those two things in mind consistently, then you'll find tough decisions so much easier to make.

Hopefully loyalty will follow, adding back incremental sales.

Let your brand be your guide.

Related: How You Give Back Provides Purpose to Your Personal Brand

Jim Joseph

Marketing Master - Author - Blogger - Dad

Jim Joseph is a commentator on the marketing industry. He is Global President of the marketing communications agency BCW, author of The Experience Effect series and an adjunct instructor at New York University.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Innovation

4 Ways Market Leaders Use Innovation to Foster Business Growth

Forward-thinkers constantly strive to diversify and streamline their products and services, turning novelties into commodities desired by many.

Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Business Process

The Best Times, Days and Months To Post on YouTube (2023)

When is the best time to post YouTube videos to maximize their effect? Discover the best time to post on YouTube in this detailed guide.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Your Old Apple AirPods Can Soon Act as an Over-the-Counter Hearing Aid, According to the FDA

The new software is compatible with the Apple AirPods Pro and accessible through iOS — for free and now FDA-authorized.

Business Culture

What Every Business Leader Can Learn From Dutch Bros' People-First Culture

The coffee chain is turning employees into owners of the customer experience.