Report on J.C. Penney Marketing and Product Strategy.

J.C. Penney Company is normally known as JC. Penney. This company is founded in 1902 by James Cash Penney, and now it is a public company. It is connected with lifestyle and retail industry and does their business in departmental stores. The JC. Penney has a system in its American family’s outlets who are in search of the household products at one place (Bhasin, 2018).

Marketing Strategy of J.C. Penney Company

The JC Penney is an American based company and doing its operations nationwide. The network is spread 49 states in the United States over Puerto Rico through department stores in the 1014 places. JC Penney head office base in Texas at Plano. Up to that time many of its stores were located in inner-city areas, but after 1966, they have found in the suburban area shopping malls. Because of these area’s popularity in the late quarter of 20^th century.  Although it is very important for the company to evolve with time, the JC Penney brand starts relocating and developing stores to the high traffic consumer places. Some of JC Penney stores are located in power centers, some nearby its competing corporations and some are also self-supporting stores. As far as the marketing of the company is the concern, the company is now moving towards the internet market and also facilitating the customers with online retailing services (Marse, 2018).

The JC. Penney has focused on the middle-class and upper-middle customers as its target market and association with the outlets of the mid-range department. It has faith in the daily value and has accepted its effective pricing strategy depending on the theme. In recent times the company discarded its frequent discounts to rise sales and change it with a pricing strategy that is cost-effective. This is said to be a low-priced method is to be monitored regularly so that customers not have to days wait to go to the stores but can purchase and come anytime and any day conferring to their suitability. This strategy of the JC Penney also likely to maintain its economic position as its pricing strategies helped in raising its profits (Bhasin, 2018).

The JC Penney has adopted the well-devised strategy for the marketing to maintain and create awareness of brand between its customers. JC Penney sends customize emails to customers regarding their upcoming events such as recent offers, clearance sale, and forthcoming discounts. It suggestions family portrayals and free haircut of the children and email sends about the timings and days. The JC Penney has linked products with days or festivals and has approved promotional strategies of the JC Penney as a result. For example, it provides some incentives on events such as Easter, Valentine’s Day and Mother’s Day by providing offers that are more demand (Ir.jcpenney.com, 2016).

The JC Penney is also working on promotional merchandising, and pricing strategies to transport a sales mix that will benefit in improving the offset and margins the growth impact of lower margin categories stock. The JC Penney has associated its planning and pricing allocation teams underneath the organization. The JC Penney also believes the concentrate on functions will update its promotion, markdown and pricing strategies (Bhasin, 2018).

 Product Strategy of J.C. Penney Company

The JC Penney is a well-known outlet of retailing in America that sells conventional commodities. It also stocks rented departments such as portrait studios, jewelry repair, Seattle’s Best-Coffee, Sephora and optical centers, salons. It has almost 100 distinguishing boutiques exclusive its store that suggestions products for men, children, and women regardless of their age (Marse, 2018).

The JC Penney is focused on providing the customers with high-class shopping experiences and compelling merchandise that make the customers more loyal.  To transport its value proposition to customers, by 2019 the JC Penney will support initiative exclusive and private brand saturation up to 70 % of total sales.  This goal will be accomplished by disregarding labels that are no more appropriate and increasing popular brands to more categories. To more distinguish JC. Penney from - mortar and- brick and online rivalry, the JC Penney will make the most of the opportunities in 3 specific product branding strategies (Ir.jcpenney.com, 2016):

·         Home Refresh: Vitalizing the Home store of JC Penney to induce customers going to renovate their homes, as well as rolling out main purpose stores to about 500 positions and the website jcp.com, testing Empire Today carpeting in 3 markets and adding Ashley^® Signature Design to the equipment collection in stores and via the website jcp.com (Ir.jcpenney.com, 2016). 

·         Special Sizes: Increasing the special sizes offers by leveraging internal design and inclination teams to carry excellence plus size, big & tall and petite garb that meets the lifestyle wants of numerous body types and ages.

·         Beauty Experience: Following more development in Women's beauty by increasing the number of Sephora in JC Penney store, accelerating renovations The Salon by InStyle, revitalizing center and give emphasis to fine jewelry.

The JC. Penney is making the effective marketing and product strategies to sales by concentrating on groups like toys beauty, and home. In the business of beauty, the JC Penney has added about seventy Sephora locations and extended thirty-two existing places in the year 2017 (Marse, 2018).

Summing up the discussion it can be said that it is very important for the company to evolve with time, the JC Penney brand start relocating and developing stores to the high traffic consumer places. In recent times the company discarded its frequent discounts to rise sales and change it with a pricing strategy that is cost-effective. This strategy of the JC Penney also likely to maintain its economic position as its pricing strategies helped in raising its profits. The JC Penney has linked products with days or festivals and has approved promotional strategies of the JC Penney as a result. The JC Penney is focus on providing the customers with high-class shopping experiences and compelling merchandise that make the customers more loyal.  The JC. Penney is making the effective marketing and product strategies to sales by concentrating on groups like toys beauty, and home.

References Marketing and Product Strategy of J.C. Penney Company

Bhasin, H. (2018, January 3). Marketing Mix Of Jcpenney Company – Jcpenney Company Marketing Mix. Retrieved from https://www.marketing91.com/marketing-mix-jcpenney-company/

Ir.jcpenney.com/. (2016, August 17). JCPENNEY ANNOUNCES STRATEGIC PLANS FOR PROFITABLE GROWTH BEYOND 2017 . Retrieved from https://ir.jcpenney.com/news-events/press-releases/detail/384/jcpenney-announces-strategic-plans-for-profitable-growth

Marse, A. (2018, December 29). JC Penney’s Marketing Strategy: Mistakes and Lessons. Retrieved from https://smallbiztrends.com/2013/04/jc-penny-marketing-case-study.html