Price This is not the first time that this company has been faced with adversity.
Among the moves made were to upgrade the clothing lines, eliminating the deep discounting and reducing the workforce, as well as technology upgrades Ibid.
The problem was that these moves alienated staff and customers, without bringing in any new ones.
The decline in net income for was actually not as great as the decline in revenue would imply, indicating that must of the lost revenue was indeed from deeply-discounted items, and that the internal cost-cutting was largely successful.
Furthermore, eliminating the deep discounting is something that in the long run would have made the company more attractive to new brands, which it needs. Some argue that this strategic move to drop Johnson was done at entirely the wrong time, since all the tough moves had been made but the new brands were not in place, leaving the company starting over with no brand identity Stone, Celebrities An earlier move that JC Penney made was to embrace celebrities to appeal to a wider customer base.
The appeal of celebrities in marketing is to create aspirational branding Till, JC Penney worked with several celebrities who had branded retail lines in order to enhance the appeal of the stores. In some cases, these moves ended badly when the appeal of the celebrity declined -- as happened with Paula Deen -- and in other cases such as with Ellen DeGeneres there was controversy that swirled around the company.
Celebrities can be sometimes polarizing figures, which is a consideration the company must account for when it is trying to market to a broad base.
Online Very few large retailers can survive without an online channel, since that channel has experienced strong and steady growth of late. While Penney still relies on its bricks-and-mortar stores, it has enjoyed some success with its online site, leveraging the power of its brand to attract consumers Cheng, This growth is encouraging, but online sales are negligible compared with in-store sales.
Furthermore, these gains are not so spectacular that they make up for declines in bricks-and-mortar sales Oursler, The company needs to work to build this channel, but it is in absolutely no position to transition to being an online company.
If Penney is aiming to do this, it probably should do so with great caution, when sales justify such a move. This is a small intrapreneurial venture, not a massive organizational overhaul at this point. From a management perspective, it would be a near impossible shift given that online sales in no way justify it.
Innovation One of the things that JC Penney needs the most is innovation. The company does not appeal….JC Penney is a general retail brand that specializes in clothing, accessories and home furnishing.
It has been around for decades and has been catering the needs of consumers of all ages and backgrounds. These papers were held by JCPenney Company and organized by Company employees over a year span. The collection was donated in to the DeGolyer. Because of this year time span, folder "titles" are often inconsistent.
"A Few Remarks on Advertising and the Economic Situation" Jan. 1, (13 p., cc, 1 copy). The retailer is J.C. Penney, a fixture at shopping malls across the country. In , J.C. Penney rebranded itself by making the announcement that it wanted to become America’s favorite store by creating a specialty department store experience (JCP, ).
Excerpt from Essay: JC Penney Introduction & Ron Johnson At this point it is hard to judge if JC Penney is a well-run company because it just got a new CEO but in . JC Penney is a general retail brand that specializes in clothing, accessories and home furnishing.
It has been around for decades and has been catering the needs of consumers of all ages and backgrounds. The Sample Essay on SWOT Analysis of J.C Penney has been provided for students writing business papers on SWOT Analysis of J.C Penney.