JC. Penney Marketing Solutions
An Introduction to JCPenney
In today’s dynamic world, it becomes a struggle to persevere against the rampant competition and adapt to the continuously changing structure of the retail industry. JCPenney, formally known as Penney’s, was founded in 1902 by James Cash Penney (Hannah). Currently,
JCPenney is known as a moderately priced chain of department stores with headquarters stationed in Plano, Texas. Aside from their general merchandise departments, JCPenney also offers Sephora, optical centers, portrait studios, and jewelry repair. Since its inception in 1902,
JCPenney has undergone its own shares of ups and downs; however, it has proved itself as a true risktaker amongst the retail industry.
In recent years, any and every institution has narrowed in on the aftermath of JCPenney’s rebranding catastrophe. JCPenney, the century old departmentstore behemoth spanning 1,100 locations throughout America, underwent critical rebranding changes to rejuvenate its stores.
These changes began in June of 2011 when the company announced its new CEO, Ron Johnson.
Johnson, a corporate veteran with executive experience at Target and Apple Inc, was called upon to revolutionize the JCPenney shopping experience. As the Senior Vice President of Retail
Operations of Apple, Johnson revamped the Apple store, and made them into the “sleek playrooms filled with gadgets” that we know of today. Unfortunately, Johnson was unable to bring the success from Apple Inc, and the company deteriorated under Johnson’s management.
Ron Johnson’s Rebranding of JCP 1
In today’s retail industry, overall prices are rising while consumer values are remaining
“stagnant,” forcing JCPenney and other retailers to discount their clothes from an market average of 38% in 2002, even further to 60% in 2011 (Groth). Over the last 20 years, the stagnance in consumer value has led department stores to lose nearly 25% of market share, while mass discount and specialty
In today’s dynamic world, it becomes a struggle to persevere against the rampant competition and adapt to the continuously changing structure of the retail industry. JCPenney, formally known as Penney’s, was founded in 1902 by James Cash Penney (Hannah). Currently,
JCPenney is known as a moderately priced chain of department stores with headquarters stationed in Plano, Texas. Aside from their general merchandise departments, JCPenney also offers Sephora, optical centers, portrait studios, and jewelry repair. Since its inception in 1902,
JCPenney has undergone its own shares of ups and downs; however, it has proved itself as a true risktaker amongst the retail industry.
In recent years, any and every institution has narrowed in on the aftermath of JCPenney’s rebranding catastrophe. JCPenney, the century old departmentstore behemoth spanning 1,100 locations throughout America, underwent critical rebranding changes to rejuvenate its stores.
These changes began in June of 2011 when the company announced its new CEO, Ron Johnson.
Johnson, a corporate veteran with executive experience at Target and Apple Inc, was called upon to revolutionize the JCPenney shopping experience. As the Senior Vice President of Retail
Operations of Apple, Johnson revamped the Apple store, and made them into the “sleek playrooms filled with gadgets” that we know of today. Unfortunately, Johnson was unable to bring the success from Apple Inc, and the company deteriorated under Johnson’s management.
Ron Johnson’s Rebranding of JCP 1
In today’s retail industry, overall prices are rising while consumer values are remaining
“stagnant,” forcing JCPenney and other retailers to discount their clothes from an market average of 38% in 2002, even further to 60% in 2011 (Groth). Over the last 20 years, the stagnance in consumer value has led department stores to lose nearly 25% of market share, while mass discount and specialty