Costco Marketing Plan - 2024 Words

1. Internal Analysis 1.1 Business Scope 1.1.1 Mission Statement To continually provide members with quality goods and services at the lowest possible prices 1.1.2 Definition Corporate Objective Costco operates membership warehouses based on the concept which offers member low prices on a limited selection of nationally branded and selected private–label products in a large range of merchandise categories which produce high sales volumes and rapid inventory turnover. Combining the turnover with the operating efficiencies achieved via volume purchasing, efficient distribution and reduced handling of merchandise in no-frills, self-service warehouse facilities allows Costco to operate profitably at significantly lower gross†¦show more content†¦Ã¢â‚¬ ¢ Strong trade unions and strong protectionism for labour welfare †¢ Approach to human rights and freedoms reflects liberal democratic ideals and a belief in the inherent dignity and the equal and inalienable rights of all people 2.2 Industry Analysis 2.2.1 Definition and Structure Porters Five Forces analysis is used as a tool to determine the retail industry’s attractiveness for Costco’s profitability, with the focus of supermarket segment (Refer to Appendix 3). 2.2.2 Total Market There is high concentration of supermarket retailers in Australia. The two major players in the industry is estimated to account for about 80% of the market share, with the remaining 20% occupied by other smaller retailers. Total retail market for supermarket and grocery goods is an average estimation of $97.0 billion. Sales in the supermarket industry have risen by 3.1% per annum as of 2010 (Refer to Appendix 4). 2.2.3 Market Characteristics, Developments Trends †¢ The supermarket industryShow MoreRelatedCostco Marketing Plan3741 Words   |  15 PagesMarketing Plan Costco Companies, Inc. MKT 680 Presented by Jose D. Carmona May 10, 2012 1. Executive Summary Costco Wholesale Corporation, which began operations in 1983 in Seattle, originated the membership wholesale club retail concept. 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