pricing and marketing plan implementation

pricing and marketing plan imprementation

Required Reading/Resources
Reingold, J., Jones, M., & Kramer, S. (2014). How to fail in business while really,
really trying. Fortune, 169 (5), 80.
Lublin, J. S., & Mattioli, D. (2013, Apr 09). Penney CEO out, old boss back
in. Wall Street Journal (Online). Retrieved from ProQuest.
Glazer, E., Lublin, J. S., & Mattioli, D. (2013, Apr 9). Penney backfires on
ackman. Wall Street Journal (Online). Retrieved from ProQuest.
D’Innocenzio, A. (2012, January 27). J.C. Penney slashing prices on all
merchandise. USA Today. Retrieved from http://www.usatoday.com/money
/industries/retail/story/2012-01-25/penneys-price-overhaul/52787388/1
Reingold, 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 thinks different. Wall Street
Journal.
Mattioli, D. (2012, January 25). How J.C. Penney was minted. Wall Street
Journal.
There’s a lot going on at J.C. Penney in recent years. With a new CEO, J.C.
Penney, confronted with pressing competition up, down, and sideways in the
department store wars, is reinventing itself in terms of merchandising, supply, and
pricing strategies. Here we will concentrate only on the pricing aspects of these
new directions. However, this is ultimately about positioning; trying to find a space
that is responsive to potential customers as well as differentiating 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), Remaking J.C. Penney Without Coupons. Bloomfield
Business Week.Retrieved from http://www.businessweek.com/articles/2012-05-24
/remaking-j-dot-c-dot-penney-without-coupons
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Girard, K. (2012, March 5). Is J.C. Penney’s makeover the future of
retailing? Harvard Business School Working Knowledge. Retrieved from
http://hbswk.hbs.edu/item/6944.html
Halkias, M. (2011, December 7). J.C. Penney buys stake in Martha Stewart?s
company. The Dallas Morning News. Retrieved from http://www.dallasnews.com
/business/retail/20111207-j.c.-penney-buys-stake-in-martha-stewartscompany.ece
Timberlake, C., & Townsend, M. (2012, February 28). Macy’s says Martha’s
dance card is too full.Business Week. Retrieved
from http://www.businessweek.com/articles/2012-02-28/macys-says-marthastewarts-dance-card-is-too-full
Case Assignment
A well-written report should have a brief introduction, headings or subheadings,
and a brief concluding comment. Note that you should use some keywords as
headings or subheadings such as “Johnson?s pricing strategy,” 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 addressing following
issues.
Briefly describe Johnson?s pricing strategy, also providing background on the
company and department store industry.
1.
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.
2.
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.
3.
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.
4.
Assignment Expectations Regarding Your References and Defense
of Your Positions
Write clearly, simply, and logically. Your paper should be 750-1500 words long,
excluding title pages and references, but quality of writing is more important than
length. Use double-spaced, black Verdana or Times Roman font in 12 pt. type
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size.
Back up your positions or opinions with references to the required reading found
in the Module 1-4 Background reading and Ongoing Useful Resources. In using
those references, demonstrate your understanding of the concepts presented.
Rather than grading on how much information you find, emphasis will be on the
defense of the positions you take on the issues. Also remember that:
1. The “why” is more important than the “what.”
The defense of your positions on the issues is more important than the
positions you take.
2.
Do not repeat or quote definitions. Your use of the required reading to support
your opinions (that is, contentions or positions) should demonstrate that you
understand the concepts presented. Do not include definitions or summaries of
the readings or simply describe what the company did. Instead, your responses to
the questions should be analytical and should demonstrate that (a) you
understand the principles from the background reading 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 using your own words and ideas, employing quotes
sparingly. Quotes, if absolutely necessary, should rarely exceed five words.
When writing an academically oriented paper, you will uncover many facts about
the product. If you paraphrase the facts, cite the sources in your text and link
those citations to references at the end of the paper.
Here are some guidelines on how to conduct information search and build critical
thinking skills.
Emerald Group Publishing. (n.d.). Searching for information. Retrieved from
http://www.emeraldinsight.com/learning/study_skills/skills/searching.htm
Emerald Group Publishing. (n.d.). Developing critical thinking. Retrieved from
http://www.emeraldinsight.com/learning/study_skills/skills/critical_thinking.htm
Guidelines for handling quoted and paraphrased material are found at:
Purdue Online Writing Lab. (n.d.). Academic writing. Retrieved from
https://owl.english.purdue.edu/owl/section/1/2/
Purdue Online Writing Lab. (n.d.). Quoting, paraphrasing, and summarizing.
Retrieved from https://owl.english.purdue.edu/owl/resource/563/1/
Purdue Online Writing Lab. (n.d.). Is it plagiarism yet? Retrieved from
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Your paper consists of arguments in favor of your opinions or positions on the
issues addressed by the guidelines; therefore, avoid the following logical fallacies:
Purdue Online Writing Lab. (n.d.). Logic in argumentative writing. Retrieved from
https://owl.english.purdue.edu/owl/resource/659/01/
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