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7 pages/≈1925 words
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Level:
MLA
Subject:
Business & Marketing
Type:
Research Paper
Language:
English (U.S.)
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MS Word
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$ 36.29
Topic:

JCPenney's Marketing Strategy (Research Paper Sample)

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Task: JCPenney's Marketing Strategy The sample is about JCPenney\'s Marketing Strategy

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JCPenney's Marketing Strategy
In 2012, JCPenney launched a new brand strategy in the economy, which made its competitors worried of their success intentions. The expectations from investors and customers were high, but it is close to a year now and the majority of people have termed the strategy as a failure. The situation worsened when the company reported a decline in quarterly sales, and its financial reports were unfavourable. Confidence has started deteriorating among the staff in the departmental store. This proves a disaster to the managerial team. Historically, JCPenney is involved in sales of clothing and consumers often relie on the place to be provided with enough clothing for their operations.
The store is a comprehensive destination compared to shopping mall across the globe. With dynamism in the economy, reinvention of its activities has been the norm with the management striving to meet the needs of the consumers. Technological advancement, economic recess, and demographics have been the main aspects that facilitate change in strategies for the departmental store. The rival organizations have embraced fashion as their core strategy, and such entities include H&M and Zara. This has diverted the customer’s needs from a traditional perspective to modernity. In this analysis, the focus will be on the SWOT analysis of JCPenney, pricing strategy, distribution strategies, customer service, and competitiveness in the economy.
SWOT Analysis
SWOT analysis is the key tool in assessing the forces in the market environment (Herzog 22). Assessing the external and internal environment of an organization enhances utilization of company’s resources in achieving strategic goals and objectives. Basically, SWOT means strengths, weaknesses, opportunities and threats.
Internal Environment
Strengths
Cost Advantage: Though it may be perceived to be a small scale business entity as compared to other rivals, JCPenney boasts a remarkable cost advantage over its competitors. Its raw materials for the clothing sector are accessed at a cheaper cost than its rival companies. The processes involved in producing and marketing its product is efficient. Consumers appreciate organizations having a skilled workforce as they are assured of quality product, and JCPenney has attracted this skilled workforce.
Strong Management Team: The managerial team of the entity focuses on the development strategies, and aims at realizing high revenue outlay in the long run. Having a team that is destined to success, implementation of new strategies and undertaking adept research and development on the needs of the consumers proves vital for the success of the company. The management has realized the significance of having a dedicated team in the entity as it will increase their competitive advantage.
Sales Growth is Modest: the company’s revenue growth was hampered by the new measures initiated by the management including extensive Research and Development. The entity, in 2012, had spearheaded the modernization of the brand strategy to include changes in technology. Though in the last quarter, the sales revenue decreased, it was attributed to the lack of understanding and knowhow of the existence of the product brand in the economy. Like many other years, technology affected the sales revenue, but in a short run. It is predicted that, in this financial year, the company may not increase its sales revenue to the desired value—this is based on the results of the first quarter.
Established Brand: The success of the organization is attributed to the company’s established brand name. Customers look for business entities that have established and reputable brand name. This is gauged through assessing their comfortability, durability of the produ...
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