Philosopy

In: Business and Management

Submitted By komi91
Words 320
Pages 2
J.C Penney, as a retail management, is a succession of American mid-range department stores. The majority of its stores are located in the malls in some suburban districts. In year 2008, the company launched “American Living”, meanwhile, J.C Penney began to sell different kinds of cloth and shoes. Later in the summer of the same year, J.C Penney launched another brand “Linden Street”. In the following years, the company has introduced many brands. This essay will indicate how J.C Penney transforms price and brand image into new price strategy, new format, and new logo. In February 2012, Ron Johnson, CEO of the company, launched a new strategy, which is focusing on the brand image of its products. The company had “new logo, spokesperson, pricing strategy, investment in Martha Stewart Omni media and another designer partnership with Nanette Lenore” in only two months (Heller). The company was launching a new business plan to expand its market share. J.C Penney used this transformation to reach its long-run shareholder values. Ron Johnson and Michael Francis, president of J.C Penney, tried to open a new image of the company. J.C Penney started to launch its new price strategy this year. The company is “slashing prices up to 40% with to keep them that way year round” (Heller). With the decreasing price, J.C Penney could reach its customers’ expectation and is hopeful to invent its new brands to its market. Meanwhile, the company set the “best price” every month to offer customers more predictable pricing. According to Johnson, “customers will love shopping when it is convenient for them, rather than when it is expedient for us” (Johnson). Johnson, who ever built the world’s most powerful brands – Apple, considered from the angle of its customers to build up a values which is convenient to consumers. Thus, its customers would enjoy their…...

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