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Consumer Behavior Essay Example

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Consumer Behavior

However, Costco’s leading sales came from individual consumer, the firm’s ultimate growth driver (Sander & Bobo, 2011).There are many things to understand about Costco, which primarily include its values, mission, vision and objective. However, aside from this, ideas concerning its current related-marketing moves and stakeholders are also vital considerations in understanding this firm.“Costco’s mission is to continually provide our members with quality goods and services at the lowest possible prices. In order to achieve our mission we will conduct our business with the following Code of Ethics in mind: obey the law, take care of our members, take care of our employees and respect our vendors. If we do these four things throughout our organization, then we will realize our ultimate goal, which is to reward our shareholders - Costco Mission and Code of Ethics” (Farfan, 2014).Costco saw the opportunity that when they keep cost down, they can pass the savings on to their members and when membership base is large enough leading to tremendous buying power, the result will be efficiency for the firm and the best possible prices for their customers (Costco Wholesale, 2014).It is clear in the mission statement of Costco that the firm values how the idea of becoming responsible in the society, primarily to their stakeholders and how it would conduct itself before them. Costco is after of implementing rules and obeying them, while continuing provision of the kind of respect that their stakeholders deserve.On the other hand, Costco’s mission elaborates how it is important for them to continuously provide high quality of goods and services even at a lower cost. Employing this leads Costco to obtain their goal of successfully rewarding their customers. In other words, Costco’s mission is integrated with its ultimate goal of enticing the actual need of their customers.Price is assumed to be the most pivotal element in order for the exchange process to be initiated (Peter & Olson, 2007). Therefore, this leads to the idea that the actual pricing strategy is relevant to the link existing among price affect and cognition, price environment and price behaviour. The actual current marketing of Costco without question is linked to the importance of pricing strategy.Good quality merchandise at low prices is what

References

Costco Wholesale (2014). Why Become a Member. Retrieved from http://www.costco.com/membership-information.html

Farfan, B. (2014). Costco Wholesale Mission Statement – Profits and Prices Revolve Around Ethics. Retrieved from http://retailindustry.about.com/od/retailbestpractices/ig/Company-Mission-Statements/Costco-Stores-Mission-Statement.htm

Peter, J. P., and Olson, J. C. (2007). Consumer Behavior & Marketing Strategy (7th ed.). New York, NY: McGraw Hill.

Porter, M. E. (1980). Competitive Strategy. New York, NY: Free Press.

Said, S. (2013). The Top Ten Best Selling Magazines in the United States. Retrieved from http://www.therichest.com/business/the-top-ten-best-selling-magazines-in-the-united-states/

Sander, P., & Bobo, S. (2011). The 100 Best Aggressive Stocks You Can Buy 2012. Avon, MA: Adams Media.

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preview essay on Consumer Behavior
  • Pages: 5 (1250 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Ph.D.
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