Jc Penny
J.C. Penny Company Strengths
Market penetration
J.C. Penny is currently operating in all 50 US States. This is the first step to capitalizing off of share in the retail market. (JCP Online, 2013) Essentially no matter where you are in the U.S. you can shop at a J.C. Penny’s. The sales impact of offering a great product mix will be enhanced by this kind of market penetration.
Publicly traded
The benefit of being a publicly traded company is that it can give investors more confidence when looking into financing in your company. In addition, the financial benefit of being a publicly traded company is that employees might be more loyal due to the fact that they can be part owners of the company because of the fact they share in the company’s future. (Jean L. Johnson, 2011)
Being a publicly traded company offers publicity. Usually when major companies are public they are recognized in the newspapers and different magazines. This is a great way to get free advertising. Advertising of a company usually will help the sales and revenue goals. (Jean L. Johnson, 2011) This expands the reach of J.C. Penny’s.
Retail Interface
J.C. Penny is creating a new interface for retail, offering new boutiques in the store. Today there are 17 shops. In the future there will be a 100 shops. This should aid in appealing to a diverse set of customers by essentially creating a “mall within a mall”. (JCP Online, 2013)
Customer Focus
From its online payment options to 24 hour, 7 days a week customer service line, to online order tracking, J.C. Penny’s has found a way to offer better service to satisfy the customer. The focus on the customer continues with the implementing of advanced checkout technologies. The advanced technology had come in the form of hand held merchant scanners. These scanners allow associates to process credit/debit card transactions on site, anywhere in the store. (JCP Online, 2013) This allows the consumer to quickly enter and conclude their business without
Market penetration
J.C. Penny is currently operating in all 50 US States. This is the first step to capitalizing off of share in the retail market. (JCP Online, 2013) Essentially no matter where you are in the U.S. you can shop at a J.C. Penny’s. The sales impact of offering a great product mix will be enhanced by this kind of market penetration.
Publicly traded
The benefit of being a publicly traded company is that it can give investors more confidence when looking into financing in your company. In addition, the financial benefit of being a publicly traded company is that employees might be more loyal due to the fact that they can be part owners of the company because of the fact they share in the company’s future. (Jean L. Johnson, 2011)
Being a publicly traded company offers publicity. Usually when major companies are public they are recognized in the newspapers and different magazines. This is a great way to get free advertising. Advertising of a company usually will help the sales and revenue goals. (Jean L. Johnson, 2011) This expands the reach of J.C. Penny’s.
Retail Interface
J.C. Penny is creating a new interface for retail, offering new boutiques in the store. Today there are 17 shops. In the future there will be a 100 shops. This should aid in appealing to a diverse set of customers by essentially creating a “mall within a mall”. (JCP Online, 2013)
Customer Focus
From its online payment options to 24 hour, 7 days a week customer service line, to online order tracking, J.C. Penny’s has found a way to offer better service to satisfy the customer. The focus on the customer continues with the implementing of advanced checkout technologies. The advanced technology had come in the form of hand held merchant scanners. These scanners allow associates to process credit/debit card transactions on site, anywhere in the store. (JCP Online, 2013) This allows the consumer to quickly enter and conclude their business without
References: JCP Online. (2013). Retrieved from www.JCPenny.com Jean L. Johnson, K. D. (2011). Strategie Culture and Environmenta lDimensions as Determinants of Anomie in Publicly-Traded and Privately-Held Firms. Business Ethics Quarterly. Philosophy Documentation Center. Lublin, E. H. (2011). Penney Picks Boss From Apple. Wall Street Journal. www.online.wsj.com. Malcom, H. (2012). J.C. Penny to Keep Holiday Sales. www.USAToday.com.