An analysis of the strategies used by Costco Warehouse Club
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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Costco Warehouse Club is a retail company offering high-quality products at a fair price. The company primarily focuses on satisfying its customers and treating its employees competently. The aim of this study is to investigate strategies used by Costco Warehouse Club, one of the biggest warehouse club retailers in the United States. The case study provides insights into the company which will help to understand the various strategies and marketing techniques used so as to maintain its competitive advantage in the market. According to Michael Porter, strategy is when an organization deliberately chooses different activities to offer incomparable value to its customers. Strategy is a core factor that enables companies to operate profitably. At Costco Warehouse Club, their competitive advantage is solely centered on the fact that they offer a wide range of high-quality products at low prices. Its other competitive advantages are; merchandise quality and selection, location, convenience, distribution strategy, and customer service.
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the strategies used by Costco Warehouse Club: A Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the meaning of strategy and its advantages to businesses
- Analyze how strategy has affected Costo's performance against its competitors
- Understand how to apply strategy in the day-to-day running of any organization
1.0 INTRODUCTION
Costco Wholesale Corporation is a global retailer engaging in the operation of membership warehouses. The company is dedicated to offering it members the best possible prices on high-quality brand-name products. The products offered by the company include food and sundries, hardlines, fresh foods, soft lines, and ancillary. Important to note is that Costco is also known as anti-Walmart because of their contrasting views and strategies. The primary purpose of Costco is not only to offer fair prices on products but also high quality. Costco highly values corporate social responsibility and its work ethics so as to be at a more excellent competitive value than Wal-Mart.
In 2020, the company was considered the third largest global retailer with revenue of $ 166.7 billion. As of 2022, the company had revenues of $226,954 billion. This assignment examines Costco’s strategies and how it has utilized its business model to provide its customers with high-quality products at lower prices.
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