Costco Is A Well Known Corporation That Has Excelled At Surpassing Customer Expectations
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My Summary of Costco
Costco is a well-known corporation that has excelled in surpassing customer expectations. The company has gained a reputation for having one of the best return policies in the wholesale club industry. The store offers “complete buyer satisfaction” on all of their merchandise by allowing customers to return items with no specific time limit. The only exception to this policy is Costco’s computer technology based products. These products are covered for up to one year from the date of purchase and can only be returned within that time period. Instead of spending millions of dollars on advertising to gain members, Costco’s reputation for excellent customer service is spread through word-of-mouth by their customers. More than 80 percent of them are more than willing to recommend their shopping experience to their friends, fellow associates, (Timm, 2014, p.15) and family members.
The company prides itself on the amount of items they have available for sale as well. Although Costco carries less units of stock than their competitors, they offer a selection of goods that are more economical in price. This decision on Costco’s part has helped the company to currently obtain a member base of more than 59 million people worldwide. Furthermore, Costco has an outstanding employee benefit package that is considered to be one of the best in the business. It has helped to assist in low turnover rates among associates, lowered inventory shrinkage, plus it generates