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Costco works with this business model and generating billion in annual sales.Costco is the best cost provider in the wholesale club category and the strategy is associated with Costco’s capabilities and resources, which includes; a streamlined supply chain, good supplier relationships, purchasing power, high sales volumes, quick inventory turnover, and excellent customer service.
Costco Wholesale Corporation’s case shows that the business continues to grow and expand.
The company now has operations in overseas locations, such as Taiwan.
He's a published author on the subject of entrepreneurship and strategy, Anthony can be found doing keynotes in both French and English.
You can connect with him on Twitter @anthonyctaylor and have him work with your team on your strategy and organizational development.
As a business enthusiast, I love to see companies that take risks and put bets on things that will make an impact on their bottom line in both the short term and long term future.
This month there were two news stories that covered Costco's business model and their strategy for growth.In fact, this business model aligns with the company’s mission.The generic strategy of cost leadership also agrees with and is needed to sustain Costco’s business model.The firm is among the biggest retail organizations in the world today.As a retail firm, Costco depends on consumer purchasing capacities.Consumer perceptions also have a significant impact because competition is high in the retail market.Competition from firms like Walmart is especially notable.First was the case study on using roast chickens and hot dogs as loss leaders to get people into the store.Despite the fact they could make millions more by increasing the price to match inflation, they chose to keep their prices where they are because it's better for business.Costco Wholesale Corporation is a highly viable business.The business has the essential strengths to take advantage of opportunities in the retail industry.