Costco Essentials
Study online at https://quizlet.com/_i27cjv
1. 6 rights of merchandising: Merchandise, Place, Time, Quantity, Condition, Price
2. 6 rights of people: People, Environment, Training, Compensation, Programs, Opportunities
3. The Right Merchandise: •We sell only quality products
•We sell a limited number of items and we make sure they're the best in their field
•The quality of our private label items is equal to or exceeds that of national brands
4. In the Right Place: • As good merchants, our merchandise is carefully placed for optimum sales perfor-
mance, with end caps and displays designed to let the quality of the product speak for itself.
• Costco pays attention to the basics and we like to keep things simple.
5. At the Right Time: •For seasonal items we want to be in early and out early
•We are constantly bringing in new, exciting merchandise that our members know might not be there next time. This
creates an urgency to buy and also gives our warehouses a treasure hunt atmosphere
6. In the Right Quantity: •We want to always have enough of our basic merchandise to serve our members
well at all times
•We don't keep a lot of surplus inventory in our buildings; it isn't cost-effective
•We have a rapid turnover of inventory, with goods constantly coming in through receiving and leaving just as fast out
the front door in members' carts
7. In the Right Condition: •We sell only high-quality goods, and we want these to be in the very best
condition - that means nothing faulty, damaged or broken
•Our fresh products really are fresh, and are backed by the highest food-safety standards in the industry
8. At the Right Price: •We figure out the least expensive and most efficient way to get an item from the
manufacturer to the member
•We sell items for as little as we can, instead of for as much as we can
•We always pass on any savings or reduction in cost to the member
•Our private label items always represent at least a 20-percent savings over the national brand, and usually more - some
of them can mean a savings of more than 50 percent
•If we can't be competitive in price with an item, we won't carry it
9. The Right People: •We believe that having the right employees is crucial to the success of any business
•Costco wants to find, and then retain, qualified employees who not only do the job well but also who can be successfu
in our culture.
10. The Right Environment: •The right environment involves creating a workplace that is safe four our
people. We have safety policies, including substance-abuse testing, to protect every employee
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Study online at https://quizlet.com/_i27cjv
1. 6 rights of merchandising: Merchandise, Place, Time, Quantity, Condition, Price
2. 6 rights of people: People, Environment, Training, Compensation, Programs, Opportunities
3. The Right Merchandise: •We sell only quality products
•We sell a limited number of items and we make sure they're the best in their field
•The quality of our private label items is equal to or exceeds that of national brands
4. In the Right Place: • As good merchants, our merchandise is carefully placed for optimum sales perfor-
mance, with end caps and displays designed to let the quality of the product speak for itself.
• Costco pays attention to the basics and we like to keep things simple.
5. At the Right Time: •For seasonal items we want to be in early and out early
•We are constantly bringing in new, exciting merchandise that our members know might not be there next time. This
creates an urgency to buy and also gives our warehouses a treasure hunt atmosphere
6. In the Right Quantity: •We want to always have enough of our basic merchandise to serve our members
well at all times
•We don't keep a lot of surplus inventory in our buildings; it isn't cost-effective
•We have a rapid turnover of inventory, with goods constantly coming in through receiving and leaving just as fast out
the front door in members' carts
7. In the Right Condition: •We sell only high-quality goods, and we want these to be in the very best
condition - that means nothing faulty, damaged or broken
•Our fresh products really are fresh, and are backed by the highest food-safety standards in the industry
8. At the Right Price: •We figure out the least expensive and most efficient way to get an item from the
manufacturer to the member
•We sell items for as little as we can, instead of for as much as we can
•We always pass on any savings or reduction in cost to the member
•Our private label items always represent at least a 20-percent savings over the national brand, and usually more - some
of them can mean a savings of more than 50 percent
•If we can't be competitive in price with an item, we won't carry it
9. The Right People: •We believe that having the right employees is crucial to the success of any business
•Costco wants to find, and then retain, qualified employees who not only do the job well but also who can be successfu
in our culture.
10. The Right Environment: •The right environment involves creating a workplace that is safe four our
people. We have safety policies, including substance-abuse testing, to protect every employee
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