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Costco And Target Business Analysis

318 Words2 Pages
I visited Costco and Target, and the fie criteria I chose to asses the stores were cleanliness, store decor, location of returns desk, selection of goods, and size of goods sold. At Costco the floors were clean and shiny, yet they displayed only shined concrete. At target, the floors had a white tile on the main walkways and carpet where people normally stop to look at clothes. In regards to store décor, target had lots of decorations and pictures on the wall to create an inviting environment. On the other hand, Costco had industrial, warehouse like shelving with products on the bottom. Products that were not on the floor were stored in plain view on upper shelves. This fits into Costco’s retail strategy by showing customers that they are focusing
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Introduction The Price Club was Costco’s first location, which opened in 1976. The company started in a converted airplane hangar and started off as a small business. By changing its selected target from business members to families and seeing the potential growth of the business, the small business was transformed into a warehouse industry. The first Costco warehouse was opened in Seattle in 1983.

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In this case study, we look at Ollie’s Bargain Outlet, a massive cheap retailer of name brand products. There were 30 stores in 2004 with the store growing to over 200 with their sights set in on 950 stores within the US. This chain of stores is an extreme version of Marshalls or TJMaxx with extreme low costs, even over 70% off retail prices. This chain is like Costco if Costco had extremely low prices that are unbeatable compared to retail stores. However, its ever-changing array of merchandise makes it considered a miscellaneous retail store.

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Market segmentations is the method retailers use to segment, or break down, heterogeneous consumer populations into smaller homogeneous groups based on certain characteristics.(Dunne,Lusch,&Carver.2014. Pg 92). I feel Costco is a very good example of segmentations and what they provide. Costco is often compared to Walmart because they offer most things that the consumer will need or want. Even though Costco provides most of the things they sell in bulk, the consumer is appreciates that a need is being met.

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The grocery store I chose was Costco Wholesale. The main objective of Costco is for regular consumers to be able to purchase food items in bulk. Costco’s set-up is very similar to a warehouse, with open aisles and the whole store in general taking up a lot of square feet. On an average day in Costco, you can see many different types and groups of people shopping in Costco. All ages, nationalities, and social classes can find something at Costco.

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Costco’s business model is centered around offering a smaller range of products at incredibly low prices which attracts the consumer. In order to supplement this lowered profit margin, they require their shoppers, both businesses and individuals, to purchase annual memberships. The membership fee accounts for a majority of the company’s profit. Furthermore, Costco operates its under a wholesale warehouse style which eliminates the need for excess handling and workers in the store. The stores are stocked to carry certain big ticket, ‘limited time offer’ goods so that customers feel the need to take advantage of the deal because it may not be there when they next return.

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I previously mention that the entire luggage section has been on 40% discount since Christmas. In that period of time new collections of luggage has arrived and they were displayed at a full price. Customers always preferred the discounted luggage especially when the full price items were the same luggage, but in different color. However, some customers would still purchase the luggage at a full price not knowing that the item would be soon on discount. It is a cycle, retail shops receive new items try to sell at a full price and if not many customer purchase place the item on discount.

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Consumer Reports magazine reports that Costco is the leader and is the preferred retailer in the opinion of the readers based on factors such as product quality, value, friendliness of store and staff, ease of returning items, and overall service. Costco was also considered the value leader by providing the best bang for the buck. Walmart, Sam’s Club, and Target fell below Costco’s ranking in terms of popularity and value for consumers (Keshner, 2010). Psychographic characteristics typically go beyond the external focus and are not as easy to quantify but do identify why consumers buy a particular product or service (All Business,

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