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Niche Merchandiser
-Low overhead
-Minimal markups
-Fast inventory turnover
-Minimize accounts receivable
-Small product selection
-No frills approach to store layout
-Limited work week
-Low advertising/marketing costs
-Membership fees reduce inventory loss
Costco's profit margins are roughly 2%, besides labor costs are there any additional areas you feel Costco could cut costs to boost profit?
In times of economic downturn, Costco has kept is costs low due to the purchase of options contracts. Do you have any alternate recommendations for keeping costs low from suppliers?
In Chapter 6 from the book, we discussed complementary strategic moves. What complementary strategic moves do you feel Costco should execute?
Do you think Costco is too customer-oriented (with such low prices, etc) and not enough shareholder-oriented? Why? Should Costco focus on increasing value to shareholders more?
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1. Obey the law.
2. Take care of our members.
3. Take care of the employees
4. Respect our suppliers.
5. Reward the shareholders.
“to continually provide our members with quality goods and services at the lowest possible prices.”
http://alumni.sdsu.edu/enews/2006/oct/JimSinegal2.jpg
Jim Sinegal CEO of Costco Corp.
-Institute mentoring program
Jeff Brotman Co-Founder
http://www.jewishinseattle.org/JF/images/email_graphics/WhyICare/thumbs/BrotmanJeff-web-small.jpg