ipl-logo

Costco Target Market Analysis

812 Words4 Pages

Market Segmentation: To be of value market segments must be measurable, substantial, accessible, differentiable, and actionable (Kotler & Keller, 2012). Segmentation of demographics for Costco is vast as the current product offerings include all genders, ethnicities, incomes. age groups, and social classes. When considering demographics, it is important to consider the average or typical characteristics of the target market. As mentioned earlier the target market or focus for this company is supplying the small- to medium-sized business and targets the middle- to high-end consumer with its private label brand Kirkland Signature. Categories of products currently include major appliances, furniture, electronics, luxury items, special events, …show more content…

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, …show more content…

Gold Star membership targets the individual or typical household and is offered at $55.00 for an annual membership. Business membership also cost $55.00 for an annual fee and includes household membership and focuses on business owners and managers. This type of membership is used for the purchase of products for business use, personal use, and resale use. The membership owner may add up to an additional six members for an annual of $55.00 each. The Business membership is Costco core target of offering small businesses products with reduced costs intended for resale. The Executive membership is offered at an annual fee of $110.00 and targets the mid- to high-end individual consumer. This membership offers a two percent annual payback reward and additional discounts on other specialty services (Costco Wholesale,

Show More
Related
552 Words | 3 Pages

Costco manages its risk through diversity. This is the place you can purchase groceries and a diamond ring all in one place. I understand how one would purchase a diamond in Costco versus Tiffany’s due to the substantial savings and the companies relaxed return policy. But saving thousands of dollars by making such a purchase in Costco can prove to be a poor decision in the long run. Costco does not offer any type of customization.

Read More
1830 Words | 8 Pages

On a normal Saturday night in the summer the grill will be filled with one hundred people a night. There are two different types of members full members and social members. Full members pay a fifty-thousand-dollar initiation fee and eight hundred dollars per month. A social member pays twenty-two thousand five hundred dollars as an initiation fee and four hundred dollars per month. Many clubs have a minimum you have to spend per month, but the park ridge country club does not offer that.

Read More
1585 Words | 7 Pages

The cost of membership in the BSA within our local council is $87 per youth, plus an additional $25 for youth who are new to the program; adult volunteer membership is $57 per

Read More
402 Words | 2 Pages

For seniors, the price varies. • One has to just pay

Read More
561 Words | 3 Pages

Costco’s strengths are well documented and very characteristic of their kind of business. They thrive on strong financial performance, exceptional services for members, and a quality mix of products. These three strengths are at the core of Costco’s identity and they cover all of the building blocks of advantage, a major reason in their continued success and growth throughout the years. Their first and possibly most notable strength is that of strong financial performance. In data observed between the fiscal years of 2011 and 2012, Costco’s revenue increased by an outstanding 11.5% from $88,915,000,000 to 99,137,000,000.

Read More
177 Words | 1 Pages

Costco’s first location, opened in 1976 under the Price Club name, was in a converted airplane hangar on Morena Boulevard in San Diego. By 1983 the first Costco warehouse was built in Seattle. They became the first company to go from zero to 3 billion sales in less than 6 years. In 1993 the two companies, Costco Wholesale and Price Club, merged together and resulted in the most successful warehouse club. Costco has been very successful and to continue their success they should try to get more aggressive with who gets the spots in their warehouse.

Read More
207 Words | 1 Pages

The average calories for a meal is around five hundred to six hundred fifty. Most college students get more than one item from Costco, which exceeds the calorie intake for one meal. For most college students, we don't tend to look at the calories or nutrition to be a big part of any of our meals. For me, I see the calories on the board below all of the foods; but I just look at it for fun and nothing more. Although Costco has great foods most of the food lack the nutrition needed for a college students’ body.

Read More
447 Words | 2 Pages

Hit And Avail Electronics Target Coupons 19 March 2017 Make it ambition to compass with effective store base deals having reception in buys on store. Pull off with consideration as intent and cop having essentials you connect to and purchase online. Rack up through wants to get acquirements of a corral that gets lessening in wants confirming availing’s. Insist and ascertain through corrective draws online and price considerations to settle from web. Declare and seek an appropriate difference that has remedy on store and is a want to ascribe with means to trade.

Read More
152 Words | 1 Pages

Costco’s goal is to try and sell first-class merchandize at the lowest price possible to the customers. Costco has many big competitors including Wal-Mart Stores that own Sam’s Club, The Target Corporation and The Kroger Co. who owns Ralphs and FoodsCo. Costco figures out the customers buying habits and needs so they can buy and sell the right product that match’s what people want and need. They need to have a productive supply chain, that allows Costco to measure and identify through their ads and marketing efforts what kinds of products are successful or not.

Read More
217 Words | 1 Pages

The annual membership fee for SVU is $50.00.

Read More
729 Words | 3 Pages

What are the two types of core competencies that drive a firm’s competitive advantage? Which firms demonstrate a clear competitive advantage because of (a) major value-creating skills/core capabilities and/or (b) superior assets or resources? Which firms have demonstrated sustainable sources of competitive advantage? The two core competencies that drive a firm’s competitive advantage are cost leadership and differentiation.

Read More
630 Words | 3 Pages

The price of the WISC-IV can range anywhere from 725 to 1,075. For 725 dollars you will obtain the basic kit where you receive the administrations manual, technical

Read More
1087 Words | 5 Pages

In order to formulate an effective ad, the target audience must always be defined and understood. Starbucks Coffee’s target audience is families with young children. There are several factors involved in determining the target audience, and that is demographic, geographic, psychographic, and consumer insights. Firstly, there are several demographic variables that are taken into account.

Read More
1402 Words | 6 Pages

According to TrackMaven, market segmentation is the process of dividing the market of potential customers into groups, or segments, based on different features. The created segment consists of consumers who will respond to the same marketing strategy and who share the nature of the same interests, needs, or locations. McDonald uses demographic segmentation as their main types of market segmentation. According to Sakshi Natani (2016), McDonald in Malaysia used mainly demographic segmentation, which divided in age, income, family-life cycle and social class.

Read More
1004 Words | 5 Pages

1. MARKAT SEGMENTATION Market segmentation is a strategy that is generally used by a company to identify and define the target customers, and provide the supporting data for the marketing plan elements. There are five types of market segmentation which are demographic segmentation, geographic segmentation, psychographic segmentation, benefits segmentation and volume segmentation. • Demographic Segmentation Demographic segmentation is market segmentation according to age, family size, religion, race, gender, income and education. By using this segmentation, a company can categorize the needs of consumers more easily and target its consumers more accurately because demographics can segmented into several markets.

Read More

More about Costco Target Market Analysis

Open Document