Costco.docx - HOW COSTCO GOT ITS START 1 How Costco Got its...

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HOW COSTCO GOT ITS START 1 How Costco Got its Start and Continues Growing its Business Kristin McCourtney Central Methodist University
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HOW COSTCO GOT ITS START 2 Costco Warehouse stores are globally known as a store to purchase various items in bulk at discount prices. They have come quite a long way since they were founded in 1976 in a converted airplane hanger. The first store was named PriceClub on Moreno Boulevard in San Diego, California. The company originally serve small businesses and select non-business members. The growth of the company and the warehouse club industry took off. By 1983, Costco had opened he first warehouse location in Seattle. Then they became the “first company to grow from zero to $3 bilion in sales in less than 6 years.” Then just ten years later in 1993, Costco and Price Club merged to become PriceCostco having 206 locations and generating $16 billion in annual sales. These increasing sales are due to the large quantity of products and services offered by Costco (Why). Costco’s marketing mix is quite unusual. Offering not only products but services as well all at a discounted price. They offer products in furniture, clothing, food, appliances, electronics, pharmaceutical, gasoline, floral, pets, and many more. They also offer services such as optical, home, business, life and photo center. With the various number of products and services they offer, they offer in a bulk supply so that they are also at a discounted price (Thompson). People get to buy more for less! Their company philosophy is “keep costs down and pass the savings on to our members” (Why). Their distribution is focused on their warehouse style stores, online
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