Read and cite article listed, supplemented with any other articles related to J.C. Penney, and develop a report addressing following issues.
1. Briefly describe Johnson’s pricing strategy, also providing background on the company and department store industry.
2. Explain why Johnson’s pricing strategy did not work. Support your position in terms of environmental factors such as economy, the competition, and changing consumer behavior.
3. What do you think Johnson could have done better? Take into account J.C. Penney’s segmentation, positioning, and branding strategies to explain this issue.
4. Compare J.C. Penney’s current pricing strategy and Johnson’s pricing strategy, based on your research on the most recent situation of J.C. Penney. How do you think J.C. Penney would perform in the next five years? Take into consideration the relationships between pricing and other aspects of the marketing effort such as a change in merchandising, logo, atmospherics, use of celebrity spokespersons, and so on.