An Examination of the Direction of the J.C. Penney Essay

Consumer perception of a company is key to the companys success. If a company is associated with any negative elements in the consumers mind, the consumer is less likely to do business with that company, regardless of how good the product itself is. That is why brand imaging is such an important aspect of strategic planning and why marketers are so essential to an organizations success, especially in a competitive market. One company which has recently decided to try to reinvent itself in terms of company image by affecting its merchandising, supply, and pricing strategies. The following essay will examine J.C. Penneys recently reimagined direction. IndustryThe department store industry itself is very competitive. Organizations in this industry largely compete in regards to price and merchandise, and the success of a company with a competitive price and merchandise selection will largely rely on marketing and branding efforts by the company. (Hare 2004) This, it seems, is where J.C. Penney (JCP) falls short. In recent years, the company has experienced a downturn in business and lost many companies to other department stores. Looking at the history of the company over the past decade, it becomes clear why J.C. Penney cannot maintain a steady customer base. Their company has been marked by constant change. While the store chain realized much of its success in earlier years by following consumer trends such as utilizing shopping centers, JCP is now forced to reimagine its entire strategic direction and branding methods if it expects to compete in this competitive environment. (Hare 2004)JCPs new pricing strategy seems to be very sensible considering the circumstances under which it was implemented. According to the new CEO, Ron Johnson, before he took over, JCP held over 500 different sales throughout the year. (Mattioli 2012) At an average of nearly two sales a day, the companys meaning of sale had likely been spoiled in the consumers mind as a constant occurrence. The sense of urgency usually...

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