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 recent years it definitely has not been well-run. The recently-fired CEO Ron Johnson made a few strategic moves to transition the company's store to the modern era (Heller, 2013). 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. JC Penney went from $17.2 billion in income in the 2012 fiscal year to $12.95 in the 2013 fiscal year and it lost money both years (MSN Moneycentral, 2013). The decline in net income for 2013 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, 2013).
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, 1998). Studies have shown that two approaches are often used, a celebrity for likeability and a celebrity for fit (Fleck, Korchia & Roy, 2012). JC Penney worked with several celebrities who...
JC Penny Makeover Background on U.S. Department Stores and Background on J.C. Penney Dr. Robert Tamilia (Marketing professor at the University of Quebec at Montreal) explains that the department store in America not only "…revolutionized the retail store," and the shopping experience, and the available of products and promotional techniques, the department store contributed in a major way to the evolution of "...hiring practices and inventory control procedures" (Tamilia, 2002, p. 3).
JC Penney's In the retailing industry, it is challenging an organization to break down all its previous designs, advertising plans, and store environments to make a new beginning. Nonetheless, that is precisely what JC Penney did, and has done several times. Founded over 100 years ago, this organization has seen changes and redesigns with each new CEO. Recently, JC Penney, otherwise called JCP, has begun a fresh again with a new
J.C. Penney News Is Bigger Than Lawsuit Decisions, Revenue Losses, and Resignations - Mark Cuban's Stock Purchase Is Better Than Money for J.C. Penney's Recovery (JCP, MSO) Organizational context: J.C. Penney J.C. Penney is one of the most famous and renowned of the major U.S. department stores. It is well-known for its image of Americana and its reasonable prices. However, within this particular market segment, J.C. Penney is facing increasingly stiff competition
Chapter 1 Globalization is delineated as the socio-economic transformation and development process of eradicating trade, investment, cultural information technology, and political barriers across nations. The benefits of globalization include increased growth in the economy, political integration in various expanses, and interdependence among countries of the world. The key international institutions that facilitate globalization include the International Monetary Fund (IMF), the World Bank, and the World Trade Organization (WTO). To begin with,
In the case of Apple, the analysis of the many findings from Klink (2000) accentuates the values the company has worked so diligently to achieve. Friendly, unpretentious, intelligent, non-conformist yet adaptable to standards, agile, and noted for its freedom of expression that has created one of the most loyal brand cultures in the high technology industry, Apple's aligning their messaging to the inherent strengths of their brand name from a linguistic perspective is exceptional. Yorkston and Menon
Lesson Plan Amp; Reflection I didn't know what state you are in so was unable to do state/district standards! Lesson Plan Age/Grade Range; Developmental Level(s): 7-8/2nd Grade; Below grade level Anticipated Lesson Duration: 45 Minutes Lesson Foundations Pre-assessment (including cognitive and noncognitive measures): All students are reading below grade level (5-7 months) as measured by standardized assessments and teacher observation Curricular Focus, Theme, or Subject Area: Reading: Fluency, word recognition, and comprehension State/District Standards: Learning Objectives: Students will develop
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now