Module 4 - Case PRICING & MARKETING PLAN IMPLEMENTATION

Required Readin" rel="nofollow">ing/Resources Rein" rel="nofollow">ingold, J., Jones, M., & Kramer, S. (2014). How to fail in" rel="nofollow">in busin" rel="nofollow">iness while really, really tryin" rel="nofollow">ing. Fortune, 169 (5), 80. Lublin" rel="nofollow">in, J. S., & Mattioli, D. (2013, Apr 09). Penney CEO out, old boss back in" rel="nofollow">in. Wall Street Journal (Onlin" rel="nofollow">ine). Retrieved from ProQuest. Glazer, E., Lublin" rel="nofollow">in, J. S., & Mattioli, D. (2013, Apr 9). Penney backfires on ackman. Wall Street Journal (Onlin" rel="nofollow">ine). Retrieved from ProQuest. D'Innocenzio, A. (2012, January 27). J.C. Penney slashin" rel="nofollow">ing prices on all merchandise. USA Today. Retrieved from http://www.usatoday.com/money/in" rel="nofollow">industries/retail/story/2012-01-25/penneys-price-overhaul/52787388/1 Rein" rel="nofollow">ingold, J. (2012, March 19). Retail's new radical. Fortune. Retrieved from http://management.fortune.cnn.com/2012/03/07/jc-penney-ron-johnson/ Mattioli, D. (2012, January 26). J.C. Penney chief thin" rel="nofollow">inks different. Wall Street Journal. Mattioli, D. (2012, January 25). How J.C. Penney was min" rel="nofollow">inted. Wall Street Journal. There's a lot goin" rel="nofollow">ing on at J.C. Penney these days. With a new CEO, Penney, confronted with pressin" rel="nofollow">ing competition up, down, and sideways in" rel="nofollow">in the department store wars, is rein" rel="nofollow">inventin" rel="nofollow">ing itself in" rel="nofollow">in terms of merchandisin" rel="nofollow">ing, supply, and pricin" rel="nofollow">ing strategies. Here we will concentrate only on the pricin" rel="nofollow">ing aspects of these new directions. However, this is ultimately about positionin" rel="nofollow">ing; tryin" rel="nofollow">ing to fin" rel="nofollow">ind a space that is responsive to potential customers as well as differentiatin" rel="nofollow">ing the Penney brand from Target, Kohl's, Wal-Mart, and Macy's. These articles shed additional light on the implications of Penney's new direction: Berfield, S. (2012, May 24), Remakin" rel="nofollow">ing J.C. Penney Without Coupons. Bloomfield Busin" rel="nofollow">iness Week.Retrieved from http://www.busin" rel="nofollow">inessweek.com/articles/2012-05-24/remakin" rel="nofollow">ing-j-dot-c-dot-penney-without-coupons Conte, C. (2012, March 8). Stein" rel="nofollow">in Mart reducin" rel="nofollow">ing coupon use, lowerin" rel="nofollow">ing prices, Jacksonville Busin" rel="nofollow">iness Journal. Retrieved from http://www.bizjournals.com/jacksonville/blog/2012/03/stein" rel="nofollow">in-mart-reducin" rel="nofollow">ing-coupon-use.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_jacksonville+%28Jacksonville+Busin" rel="nofollow">iness+Journal%29 Stein" rel="nofollow">in Mart plans to reduce its dependence on coupons and return to the everyday low-pricin" rel="nofollow">ing strategy it became known for, with plans to cut prices between 5% and 10% on much of its merchandise. “We don’t want our customers to thin" rel="nofollow">ink they have to use a coupon to get a better price at Stein" rel="nofollow">in Mart," said Jay Stein" rel="nofollow">in, chairman of the board and in" rel="nofollow">interim CEO. Girard, K. (2012, March 5). Is J.C. Penney's makeover the future of retailin" rel="nofollow">ing? Harvard Busin" rel="nofollow">iness School Workin" rel="nofollow">ing Knowledge. Retrieved from http://hbswk.hbs.edu/item/6944.html Halkias, M. (2011, December 7). J.C. Penney buys stake in" rel="nofollow">in Martha Stewart’s company. The Dallas Mornin" rel="nofollow">ing News. Retrieved from http://www.dallasnews.com/busin" rel="nofollow">iness/retail/20111207-j.c.-penney-buys-stake-in" rel="nofollow">in-martha-stewarts-company.ece Should Martha Stewart target markets or mass merchandise? Talley, K. (2012,, January 27). Penney CEO says profits won't suffer. Wall Street Journal. Retrieved from http://onlin" rel="nofollow">ine.wsj.com/news/articles/SB10001424052970204573704577184951220641144 Timberlake, C., & Townsend, M. (2012, February 28). Macy's says Martha's dance card is too full.Busin" rel="nofollow">iness Week. Retrieved from http://www.busin" rel="nofollow">inessweek.com/articles/2012-02-28/macys-says-martha-stewarts-dance-card-is-too-full Case Assignment A well-written report should have a brief in" rel="nofollow">introduction, headin" rel="nofollow">ings or subheadin" rel="nofollow">ings, and a brief concludin" rel="nofollow">ing comment. Note that you should use some keywords as headin" rel="nofollow">ings or subheadin" rel="nofollow">ings such as "Johnson’s pricin" rel="nofollow">ing strategy," in" rel="nofollow">instead of a sentence or a question. Read and cite article listed above, supplemented with any other articles related to J.C. Penney, and develop a report addressin" rel="nofollow">ing followin" rel="nofollow">ing issues. Briefly describe Johnson’s pricin" rel="nofollow">ing strategy, also providin" rel="nofollow">ing background on the company and department store in" rel="nofollow">industry. Explain" rel="nofollow">in why Johnson’s pricin" rel="nofollow">ing strategy did not work. Support your position in" rel="nofollow">in terms of environmental factors such as economy, the competition, and changin" rel="nofollow">ing consumer behavior. What do you thin" rel="nofollow">ink Johnson could have done better? Take in" rel="nofollow">into account J.C. Penney's segmentation, positionin" rel="nofollow">ing, and brandin" rel="nofollow">ing strategies to explain" rel="nofollow">in this issue. Compare J.C. Penney’s current pricin" rel="nofollow">ing strategy and Johnson’s pricin" rel="nofollow">ing strategy, based on your research on the most recent situation of J.C. Penney. How do you thin" rel="nofollow">ink J.C. Penney would perform in" rel="nofollow">in the next five years? Take in" rel="nofollow">into consideration the relationships between pricin" rel="nofollow">ing and other aspects of the marketin" rel="nofollow">ing effort such as a change in" rel="nofollow">in merchandisin" rel="nofollow">ing, logo, atmospherics, use of celebrity spokespersons, and so on. Assignment Expectations Regardin" rel="nofollow">ing Your References and Defense of Your Positions Write clearly, simply, and logically. Your paper should be 750-1500 words long, excludin" rel="nofollow">ing title pages and references, but quality of writin" rel="nofollow">ing is more important than length. Use double-spaced, black Verdana or Times Roman font in" rel="nofollow">in 12 pt. type size. Back up your positions or opin" rel="nofollow">inions with references to the required readin" rel="nofollow">ing found in" rel="nofollow">in the Module 1-4 Background readin" rel="nofollow">ing and Ongoin" rel="nofollow">ing Useful Resources. In usin" rel="nofollow">ing those references, demonstrate your understandin" rel="nofollow">ing of the concepts presented. Rather than gradin" rel="nofollow">ing on how much in" rel="nofollow">information you fin" rel="nofollow">ind, emphasis will be on the defense of the positions you take on the issues. Also remember that: The "why" is more important than the "what." The defense of your positions on the issues is more important than the positions you take. Do not repeat or quote defin" rel="nofollow">initions. Your use of the required readin" rel="nofollow">ing to support your opin" rel="nofollow">inions (that is, contentions or positions) should demonstrate that you understand the concepts presented. Do not in" rel="nofollow">include defin" rel="nofollow">initions or summaries of the readin" rel="nofollow">ings or simply describe what the company did. Instead, your responses to the questions should be analytical and should demonstrate that (a) you understand the prin" rel="nofollow">inciples from the background readin" rel="nofollow">ing and (b) you can apply them to this particular case. Vague, general answers will not earn a good grade. Avoid redundancy and general statements such as "All organizations exist to make a profit." Make every sentence count. Paraphrase the facts usin" rel="nofollow">ing your own words and ideas, employin" rel="nofollow">ing quotes sparin" rel="nofollow">ingly. Quotes, if absolutely necessary, should rarely exceed five words. When writin" rel="nofollow">ing an academically oriented paper, you will uncover many facts about the product. If you paraphrase the facts, cite the sources in" rel="nofollow">in your text and lin" rel="nofollow">ink those citations to references at the end of the paper. Here are some guidelin" rel="nofollow">ines on how to conduct in" rel="nofollow">information search and build critical thin" rel="nofollow">inkin" rel="nofollow">ing skills. Emerald Group Publishin" rel="nofollow">ing. (n.d.). Searchin" rel="nofollow">ing for Information. Retrieved from http://www.emeraldin" rel="nofollow">insight.com/learnin" rel="nofollow">ing/study_skills/skills/searchin" rel="nofollow">ing.htm Emerald Group Publishin" rel="nofollow">ing. (n.d.). Developin" rel="nofollow">ing Critical Thin" rel="nofollow">inkin" rel="nofollow">ing. Retrieved from http://www.emeraldin" rel="nofollow">insight.com/learnin" rel="nofollow">ing/study_skills/skills/critical_thin" rel="nofollow">inkin" rel="nofollow">ing.htm Guidelin" rel="nofollow">ines for handlin" rel="nofollow">ing quoted and paraphrased material are found at: Purdue Onlin" rel="nofollow">ine Writin" rel="nofollow">ing Lab. (n.d.). Academic Writin" rel="nofollow">ing. Retrieved from https://owl.english.purdue.edu/owl/section/1/2/ Purdue Onlin" rel="nofollow">ine Writin" rel="nofollow">ing Lab. (n.d.). Quotin" rel="nofollow">ing, Paraphrasin" rel="nofollow">ing, and Summarizin" rel="nofollow">ing. Retrieved from https://owl.english.purdue.edu/owl/resource/563/1/ Purdue Onlin" rel="nofollow">ine Writin" rel="nofollow">ing Lab. (n.d.). Avoidin" rel="nofollow">ing Plagiarism. Retrieved from http://owl.english.purdue.edu/owl/resource/589/1/ Your paper consists of arguments in" rel="nofollow">in favor of your opin" rel="nofollow">inions or positions on the issues addressed by the guidelin" rel="nofollow">ines; therefore, avoid the followin" rel="nofollow">ing logical fallacies: Purdue Onlin" rel="nofollow">ine Writin" rel="nofollow">ing Lab. (n.d.). Logic in" rel="nofollow">in Argumentative Writin" rel="nofollow">ing. Retrieved from http://owl.english.purdue.edu/owl/resource/659/03/ Privacy Policy | Contact