JC Penney Strategic Marketing Plan 2012: Product Strategy

Abstract

The JCPenney Company has undergone a transition from a value retailer to a streamlined,customer-driven retailer in order to set itself apart from its biggest competitors, Macy’s and Kohl’s. Previously, JCP was focused on general, storewide promotions. Currently, JCP has retooled their image to reflect a standard set of prices and special savings. In this exploratory look at JCP’s merchandising strategy, both previous and new methods are examined and additional steps to improve the returns on merchandising investments are offered. During this study, a detailed examination of JCP’s internal and external environments has been conducted,and an analysis of their consumer trends is presented. Suggestions for improvement in product strategy include the limited expansion of current on-trend or high fashion brands, as well as the acquisition of limited partnerships with new brands. In addition, collaborations with cosmetics and electronics during key shopping dates would benefit the existing infrastructure at JCPenney.