Case Study Ron Johnson Strategy
I would say Ron Johnson strategy is to use his own brand names products, he proposes to customers a higher price at the beginning and then bring down the same prices products to 50% less than their original price because J.C. Penny realizes that people only buy when they feel they are making a good deal. According to Ron, it motivates buyers to spend more thinking they are doing good deals. Based on Michael Port’s strategy, the company definitely have great potential to succeed and gain more market place. The reason is because the strategy of marking prices down and cutting internal costs to achieve is a very good strategy. By doing that, the company is attracting more customers. Like everyone knows, in business customers are key to success. …show more content…
Establish the mission and the vision simply means that the company knows exactly where they want to be; which means to increase sale and be among the top companies in their industry. Establish the grand strategy with the enviormental scanning is when the company thought about how to achieve the goals-set and what steps they should take to get enough money to mark down their products. Formulate the strategic plans is when the company set out the strategy of cutting down their own prices once per month. Ultimately. this is the process of setting up a strategy that will help them achieve their initial goals. Carry out the strategic plans is what J.C Penny is putting into practice what they plan. “Consumers have been reluctant to spend without the incentive of ig markdowns.” (Case Study, 2) In other words, marking down of prices per month used by the company to entice the customers to come into their store.
Monitoring and reviewing of strategy implemented is very important as you will never know how good or bad a strategy will turn out. Monitoring also help to address any issues and make sure that procedures are followed correctly and that they aide to achieve initial goals set.
SWOT Analysis: J.C. Penny’s
Strengths – have resources to invest and enough man power
Have their own brands and can there easily change price without worrying about initial owner of brand names products.
Weakness- Too many competition in the retain industry.
Customers are more likely to buy on sales or online rather than going into
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