Costco: Marketing Audit I. Company Description In September of 1983‚ Costco Wholesale Corporation began operations in Seattle‚ Washington. The company was founded by James Sinegal‚ current President and CEO of Costco‚ and Jeffrey Brotman‚ Chairman of the Board of Directors. In October of 1993 Costco merged with a Delaware company called The Price Company to form Price/Costco‚ Inc. The Price Company was the first to establish the concept of a membership warehouse. In 1999‚ the company changed its
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Table of Contents Abstract 1 Executive Summary 2 Mission and Values 4 Strategic Path Forward 5 Goal 1 Strategies 6 Goal 2 Strategies 6 Lead Measurement 7 Moving Forward 7 Warehouse Stores and Supercenters Industry Analysis 8 Warehouse Stores an Supercenters Industry Performance 9 Products and Markets 10 Competition 11 Key Success Factors 12 Shopping Experience 14 Online Retail 15 Conclusion 15 Financial Analysis 16 Income Statement 16 Balance Sheet and Stockholder Equity 16 Statement of Cash
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I. COSTCO WHOLESALE CORPORATION Jim Sinegal (cofounder dan CEO Costco Wholesale) sedang mengusahakan Costco menjadi 4 retailer terbesar di US dan 7 terbesar di dunia. Jim Sinegal berusia 70 tahun‚ suka berpakaian santai‚ pekerjaannya menuntutnya untuk berkeliling cabang Costco (8-10 cabang setiap harinya). Jim mentraining karyawannya agar memberikan ucapan selamat datang kepada pelanggan karena Jim ingin menjadi “first name basis” di benak pelanggannya. Jim Sinegal adalah orang sibuk karena
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Costco Wholesale Since 1983‚ Costco Wholesale has risen to the top as the most proficient‚ efficient‚ and effective wholesale distributors in the world. By using a strategy based around ultra-low prices‚ a limited selection of nationally branded private labeled products‚ a treasure hunt shopping environment and operating with low operating costs‚ as well as geographic expansion‚ Costco has been able to distinguish itself from its competitors as the leading wholesale provider in the world. While
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Costco Wholesale Corporation is known to be the largest American membership-only warehouse club that provides a wide selection of merchandise. As of 2016‚ Costco was the world’s number 1 retailer of organic foods‚ beef‚ chicken‚ and wine. Needless to say‚ Costco has built an entire empire selling products in bulk‚ but hasn’t felt the need to transfer that strategy online. In the past‚ Costco has done great but with the upcoming competition from online shopping has become a huge problem for the company
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Costco Wholesale Corporation operates an international chain of membership warehouses‚ mainly under the "Costco Wholesale" name‚ that carry quality‚ brand name merchandise at substantially lower prices than the merchandise typically found at conventional wholesale or retail sources. The warehouses are designed to help small-to-medium-sized businesses reduce costs in purchasing for resale and for everyday business use. Individual consumers may also purchase for their personal needs. Costco’s
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CASE STUDY 1: COSTCO WHOLESALE IN 2008: Mission‚ Business Model and Strategy A retailing company with a mission to continually provide members with quality goods and services at the lowest price possible‚ Costco Companies‚ Inc.’s business model was to generate high sales volume and rapid inventory turnover by offering members very low prices on a limited selection of nationally branded and select private-label products in a wide range of merchandise categories. It is very much appealing as small
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Question 1 What is Costco’s business model? Is the company’s business model appealing? Why or why not? Costco’s business model focuses on selling limited selection of products at low prices‚ often at very high volume and rapid inventory turnover. These goods are bulk-packaged and marketed primarily to large families and businesses. Costco does not carry multiple brands or varieties where the item is essentially the same. It provides members with a selection of only about 4000 items‚ this results
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EXTERNAL ANALYSIS FOR COSTCO WHOLESALE CORPORATION Introduction Costco or Costco Wholesale Corporation (CWC) is an Fortune company based in America. It operates various membership warehouses in the country with an aim to offer low prices on the selective and speciality brands in the wide range of products. It is one of the largest of its kind. Stores Org in 2010 ranked it among the top three largest retailers in the
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Costco Wholesale Rolls Out End-to-End Workflow Solution REFILL 2 BY: 12/01/03 Leading Mass Merchant Partners with Innovation to Develop PharmASSIST Symphony Software PHONE 607.798.9376 Throughout the mid to late 90’s‚ Costco faced many of the same challenges of the retail pharmacy industry at large: rising prescription volumes‚ increased workload in their pharmacies‚ and a shortage of pharmacists. Costco knew that to remain competitive it had to address these issues and as a result began
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