Although there are hundreds of powerhouse fortune 500
companies out there, I decided to go with my personal favorite, Costco. Costco,
is a membership wholesale club within the retail industry that continues to
prove their value and worth as a reputable company. Costco is a global retailer
that brought in $116.2 billion in 2016, and shows no signs of slowing down. They’re
a publicly traded company through the NASDAQ ticker and has held a reputable
market share for quite some time. With Costco being publicly traded their ownership
is spread out throughout the general public in many shares of stocks and bonds.
This means anybody within the general public can buy shares of Costco in hopes
of earning a piece of the pie. Costco has an interesting mission statement that
states the continuation of low priced products that provide quality to all of
their consumers. The key to this statement is the underlying concept of
quality. As most people know, companies of various markets are continuously
trying to drop their prices, but is it at the expense of quality? Costco’s ability
to continuously provide quality items separates them from the rest of the wholesale
retailers and extends them the extra edge. Although their products are of
quality, usually being organic or all natural for food items and reputable
brands for other items, they nonetheless provide low prices. Because of this,
their target market extends to a wide variety of consumers. Typically, Costco
targets high traffic geographical areas where families can come to shop. Their
main target audience are men and women ages 30-55 who typically have families
and like to buy their products in bulk. They are not limited to any ethnic
background and embrace various ages and ethnicities to come and join the
membership side of things. Costco’s ability to provide cheap, quality, and
various product lines has allowed them to stay at the top and become a
reputable source of bulk shopping households. Costco shows no signs of slowing
down and I’m sure they will keep coming up with new ways to grow their company
further.