Overview Of J. C. Penney Company
Introduction
J.C. Penney Company, founded by James Cash Penney, is one of the largest clothing and home furnishing stores in the United States with its headquarters in Plano, Texas. On April 14th, 1902, in the town of Kemmerer, Wyoming, Penney and two other partners opened up the Golden Rule dry-goods store. In 1913, with over 34 stores, the company was incorporated as J.C. Penney Company, Inc. and transitioned its headquarters to New York City. By 1929, the company was listed on the New York Stock Exchange. According to their 2013 Sustainability Report, there are 117,000 employees at the JCPenney headquarters.
J. C. Penney, a Fortune 500 retail store, provides a variety of brands, catering to diverse customers’ specific income, size, and
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Most consumers believed the prices to be higher rather than lower at the department store; merely 16% of customers associated their prices with “Best Prices”, meaning they considered the prices to be low. Additionally, customers mentioned that deals were harder to find and that there were limited aisles with bargains. Customers are accustomed to promotions in department stores, especially in the industry in which JCPenney exists, as they have limited budgets and are able to go to another retail outlet for better deals. Competition is substantial in the retail market and promotions are crucial, unless you have a product that you cannot find at a lower price at other stores.
In early 2014, the Company launched a new tagline, “When it fits, you feel it” to reunite with their core customers by tending to their needs. As quoted by a spokesperson for JCPenney for Marketing Daily, “From a branding perspective, our new tagline celebrates the emotion that comes from finding the perfect fit, underscoring our commitment to deliver the sizes, brands, styles and prices that fit the real life needs of our customers”. Changes in JCPenney’s logo over the years are shown
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According to Myron E. Ullman, III, Chief Executive Officer, JCPenney recently faced a period of evolution and adjustments, but the significance of being both socially and environmentally responsible was always their main focus, and adds that “Supporting the communities goes well beyond Philanthropic efforts – it’s also about making mindful decisions in all of our operations, whether in stores, supply chain, customer service centers or international
Jcpenney Essay
1985 Words | 8 PagesAlong with the apparel, they also provide accessories needed to accompany the apparel. There are hair salons, portrait shops, and home decorum for sale. JCP appeals to the family how wants high quality items for an affordable price. One of Mr. Penney’s goals was to decrease the cost of the products the company purchases to allow for the customers to pay less at the register. The customers believe they are getting a great product for a great price because of the legacy JCP has developed of the years it has been in business and the experiences past families have had with the store.
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Why Is Jcpenney So Successful
1103 Words | 5 PagesThe JC Penney Company is a united states based company and is among the leading companies in the apparel and home furnishings especially in the retail sector. The JC Penney Company is dedicated to fitting the American diversity with quality, value and unpatrolled style. JC Penney has opened up many stalls throughout the country where they offer different products with a wide range of sizes, fits, shapes, occasions, budgets among other considerations. For a very long time JC Penney has been raising in the market until the recent past when it seemed to be making the wrong decisions.it was among the largest American mid-range store. They have been very successful with the expansion of their stores all over the region and even with their expansion
J. C. Penney Company
322 Words | 2 PagesJ. C. Penney Company, Inc. (JCP) is one of America 's largest store department of retailers. In 1902, James Cash Penney established the primary J. C. Penney store of department, initially named The Golden Rule, in the little mining town of Kemmerer in Wyoming. From that moment, J. C. Penney has gotten to be one of the biggest retailers in the discount and department of the retail business in 49 states with 1033 stores including Puerto Rico. Moreover, J. C. Penney works J. C. Penney operates “One of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation’s largest general merchandise catalog business”
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922 Words | 4 PagesPenney survived many American recessions and thrived during a variety of decades where it did the right thing from a business perspective: earning money. Beginning 80s, J.C. Penney disbanded most of its automotive parts. Beginning 00's, the department store sold its insurance division to Dutch finance giant Aegon and exited the drug store business soon after. All this was to focus more on its core business, the retail industry. Was that a good
Jcpenney Ads Analysis
1474 Words | 6 PagesPenney appears to runs sales consistently. During “Penny Days,” the most popular sale that happens at the Vero Beach location, certain items within the store sells for buy-one-get-one for a penny. Similar to other stores, J.C. Penney also runs smaller, regular sales that give percentages off specific items. Though larger sales appease consumers more than smaller sales, the smaller sales influence consumers into returning to the store more often. If the sales cause consumers to be happy with the prices, they will likely to return to the store and shop there regularly.
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632 Words | 3 PagesIntroduction The Dallas-area is home to a great majority of the Texas population. Citizens in the Dallas region are a unique and very powerful part of our Texas community and it is vital that we, as Texans, must protect our valuable ecosystem. As members of the JCPenney community outreach program, we strive to incorporate new ideas to help our metroplex thrive and grow. It is important to JCPenney to promote social responsibility and sustain community engagement among the Dallas area. We have designed an innovative way to aid the homeless within our greater Dallas area.
Jcpenney Company Essay
1372 Words | 6 PagesOne tactic is decreasing overall marketing cost by utilizing social media and online marketing avenues to advertise promotions and sales to consumers (La Monica, 2016). Another tactic is implementing more efficient inventory control with better communications between upper management and employees (Wahba, 2016). Utilizing a “demand-based logic” technology system, Penney’s tracks real-time sales data for improved inventory management, ensuring stores are adequately stocked to meet demand. The information is integrated within a new database that will analyze consumer demand and help synchronize pricing decisions with sales and
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Inventors During 1865-1900
428 Words | 2 PagesThe first department store was established in New York City in 1846 by Alexander Turney Stewart (Keene, 482). Soon after, others began copy Stewart and created giant stores that had many “departments” (Keene, 482). Within the next few decades, department stores became very popular, and people would swarm to them. Not only for the merchandise that had a fixed price, but also for the experience. Before the department store, most people would make negotiations on prices of the goods rather than having an already settled, fixed price.
Jcpenney Essay
851 Words | 4 PagesThey were now struggling to attract young people/young families into the stores. JC Penny’s image was that they were the store for the poor and the elderly. One effort to take the stores in a new direction was to lease store space to cosmetics retailer, Sephora. The hope was that this would attract young, female customers who would then shop in the other departments in the store. • Changed marketing strategy - JC Penney changed a large part of who they were as a retailer in an effort to compete with other department stores.
J. C. Penney's Organizational Culture
1033 Words | 5 Pages1. Describe J.C; Penney 's culture before and during Johnson 's time in the organization. What were the attributes that Johnson changed, and how did this impact the culture and success of J.C. Penney? J.C. Penney’s culture was based on transparency and loyalty before the entry of Ron Johnson.
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