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Insight/ Strategic Planning

Lessons From JC Penney's Doomed Marketing Makeover

JC Penney's pricing plan was never explained or substantiated. Nobody knows what thereal price of products should be at any store, not just Penney’s, which means there’s always going to be a suspicion or expectation that they can (or should) go lower. The “no sale” strategy was opaque on this fundamental issue when it could have established a new approach to support its prices with clearer explanations of costs, more transparency on suppliers, even aggressive attacks on the competitions’ pricing.

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