Costco mission statement is “to continually provide our members with quality goods and services at the lowest possible prices.” The company puts an emphasis on the actual benefits the customers enjoy while shopping with this company. It focusses on the quality of what they get and the price attached to the same. The mission statement has outlined characteristics:
prices. Costco has won
the heart of many customers through its ever attractive pricing strategy. The
company values the pockets of its clients, and that explains why it has
consistently battled to not only set affordable prices for the goods and
services it offers, but also influence the general pricing of various products
in the market. The deal gets even more exciting when one subscribes to the
membership program. As the company quotes, this makes the ‘shopping
experience a pleasurable one.’
the retailing sector.
As part of the bigger retailing sector, Costco strives to be an influencer of
the marketing dynamics with an effort to creating the best customer experiences
across the sector. It does this through its open and well-structured retailing
approaches that demonstrate the value of the company in society. For example, the
company goes beyond its mainstream duties to developing the communities and
protecting the environment. Its sustainable
commitments and charitable contribution
programs are some of the practical ways Costco has influenced the growth of
this industry. It has proven that retail corporations are more than what they
goods and services.
Costco brand has always been known for quality goods and services. In fact,
this has been the major selling approach exploited by the company ever since it
was founded in 1983. Ideally, the branding around this factor has without a
doubt given the company a competitive advantage over many other retailing
companies that have since emerged. In fact, the return policy at Costco is
proof of how serious the company takes quality by indicating that it targets 100%
satisfaction of all its clients with the merchandise that they get.
Anything short of this guarantees a return as dictated by this policy.
At the global level, Costco Corporation has established itself as a top company led by its mission and vision statements. In over 35 years, the company has demonstrated its business prowess by recording a steady growth coming second as the largest retailer of its kind globally.
The growth of the company is a clear reflection of its adherence to what is enshrined in the two corporate statements Costco respects doing things by the book, as revealed by the strategic approaches that have so far been a success for this corporation. The corporate mission statement of a company highlights the tactics developed by the organization management to advance the company towards a set future.
It works in collaboration with the vision statement of a firm, which is essentially the set path that the management wants the company to follow, or a predetermined development track. In this case, Costco has set a vision statement solely based on the overall experience the company wants the customers to have while interacting with it. It also includes a level of satisfaction.
On the other hand, its mission statement zeros on the technicalities of giving the customers this worthwhile experience through value-based services and products. The core values also come in handy as the aspects that guide the general practices and attitudes of the organization. Costco incorporates these to ensure that everyone remains on board to propel the company towards the desired future.
For instance, it being respectful and promoting employee development as critical determinants of how effective the company can remain compliant with the mission and vision statements.
Costco Wholesale Corporation
Issaquah, WA, USA
Public Independent Company of
Costco vision statement is “to provide a wide selection of merchandise, plus the convenience and exclusive member services, all designed to make the shopping experience pleasurable.” This is an implied vision statement as the company has no specifically defined one. However, the about us page of the company gives an account and impression of what the company wants to be in the future as visualized in this statement. The statement is made up of the following key points:
To satisfy this point in its implied vision statement, Costco has tremendously
increased the types of goods and services it deals with. The historical trend
of this company is a testimony of how hard the management has worked to make it
a place where customers can virtually go for all their needs ranging from groceries,
pharmaceuticals, and opticals to photo services. Essentially, there
is nothing that Costco does not do or provide.
- Convenience. Costco works to ensure that it saves
the clients from all the hustle and bustles of shopping. Through it’s integrated
and easy to navigate site, the company has made shopping experience fun and
most of all memorable for all its clients. To make it even better, the customer
has less to worry about getting their products. Costco has a controlled and
trusted delivery system to
ensure the customer not only gets what they shop for in pristine condition but
core values include “obey the law, take
care of our members, take care of our employees, and respect our vendors.” The
company has a strong track record of running its business in such a way that it
passes out as a role model for other players in the sector. The declaration by
the company that these values are crucial to how the company operates is an
indicator of the role they play in the overall success of the business.
is clear that acting within the law of the land is a major indicator of how it
also respects all other entities that form the foundation of the company. These
include the members, vendors as well as the employees. In this way, Costco
stresses why it has always prioritized doing good, something that has truly
reflected in the consistency of its growth ever since the company came into
- Alshakhoori, N., Alkenaizi, A.,
& George, S. Business Strategies of Discount Retailers: A Comparative Study
of Target Corporation and Costco Wholesale Corporation.
- Anitsal, I., Anitsal, M. M., &
Girard, T. (2013). Retail mission statements: Top 100 global retailers. Academy
of Strategic Management Journal, 12(1).
- Anitsal, M. M., Anitsal, I., &
Girard, T. (2012). The core of retail mission statements: top 100 US retailers.
Academy of Strategic Management Journal, 11(1), 131.
- Barchiesi, M. A., & La Bella, A.
(2014). An analysis of the organizational core values of the world’s most
admired companies. Knowledge and Process Management, 21(3),
- Bellin, J. B., & Pham, C. T.
(2007). Global expansion: balancing a uniform performance culture with local
conditions. Strategy & Leadership, 35(6), 44-50.
- Cascio, W. F. (2006). Decency means
more than “always low prices”: A comparison of Costco to Wal-Mart’s Sam’s club.
Academy of Management Perspectives, 20(3), 26-37.
- Chun, R., & Davies, G. (2001).
E-reputation: The role of mission and vision statements in positioning
strategy. Journal of Brand Management, 8(4), 315-333.
- Costco – About.
- Goldberg, M. (2011). A Textbook
Dilemma: Should the First Sale Doctrine Provide a Valid Defense for
Foreign-Made Goods. Fordham L. Rev., 80, 3057.
- King, D. L., Case, C. J., &
Premo, K. M. (2010). Current mission statement emphasis: be ethical and go
global. Academy of Strategic Management Journal, 9(2), 71.
- Krapfl, J. E., & Kruja, B.
(2015). Leadership and culture. Journal of Organizational Behavior
Management, 35(1-2), 28-43.
- McCune, J. (1999). Exporting
corporate culture. Management Review, 88(11), 52.
- Nguyen, A. Costco: From Concept to
$1 Billion in Three Years.
- Ratunil, P. (2000). Is This Why We
Came? To Have Costco Cards and AAA Memberships?.
- Thompson Jr, A. (2009). Costco
Wholesale Corporation: Mission, Business Model, and Strategy. In cours. etsmtl.
ca. Retrieved March 10, 2014.
- Yukl, G. (2008). How leaders
influence organizational effectiveness. The leadership quarterly, 19(6),