Costco Marketing Strategy

571 Words3 Pages
Introduction. It is important for every company to have a good marketing communication strategy so as to be competitive in the market and increase the profit margins. This entails formulating decent strategies that will give desirable outcomes when executed. An effective marketing round helps in creation of awareness of the products that the company offers. Effective and efficient marketing helps to build a good reputation and create a brand loyalty which sees the company retain its existing customers. The credibility of the business is increased this way which helps in maximization of profits. (Ang, 2014). As the Chief Marketing Officer of Costco it would be important to have effective marketing strategies that will see the company maintain and even extend it market size and beat the competition in the market. People to involve in the marketing round. As the Chief Marketing Officer, it is good to recognize the importance of team work and hence I would involve some people in the process of creating an ideal marketing strategy that will see the company grow and achieve its aim of maximizing the shareholders’ capital. A decent team that will assist in the formulation of strategies is required in the marketing round. The team will help in understanding the market better and also developing ways in which to reach a large…show more content…
This is because he would approve our marketing budget and give us the go ahead to implement the marketing strategy if there is enough funds that can be used in marketing. Failure to involve the CFO in the marketing round can result to making the wrong assumptions about our company’s finances and we may be forced to revise our strategy when we approach the CFO after developing the strategies if he does not approve of the budget that we had formulated before. Therefore, the Chief Finance Officer would be an important person in the marketing round as he plays a vital
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