Marc Howard Siegel - Costco Wholesale
Marc Howard Siegel is a Florida-based business executive whose skillset includes market research and analysis, and budget planning. He is a former buyer at Saks Fifth Avenue in New York, and was recruited by tennis great Nick Bollettieri to provide tennis coaching to Fortune 500 clients.
He was once contacted by Costco Wholesale Executives to create the first special service paradigm in the company's history. Costco was the first-of-its-kind membership warehouse club when it was founded in San Diego, California in 1976, and gone on to become the largest membership warehouse in the United States. The retail giant provides its members with low prices by selling mostly large quantity items in volume, eliminating service people, and offering a "treasure hunt" atmosphere.
"Famous for this phenomenon, Costco creates unbeatable sales throughout many categories in the warehouses," Marc Howard Siegel explains. "Some are advertised, such as jeans for $6.00, and others not, in example a large screen LCD, for $400.00 instead of $900.00. This circumstance created the famous Costco Wholesale story about a woman and her daughter stopping in Costco to buy a pair of jeans and leaving instead with an LCD. With that said, there is always a special situation, even in the Costco Philosophy, as one specific category was failing due to their non-service protocol.
In recent fiscal years, Costco's total sales has exceeded sixty-four billion dollars. The company says that it is dedicated to providing its customers with the best quality products at the best possible prices.