Assignment #2- Internal Analysis of JCPenney J. C. Penney (JCP) has remained one of the most valued retailers in the United States due to its careful attention to customers' needs, in the past few years J. C. Penney has implemented a new pricing policy in hopes of keeping their edge. When JC Penney replaced its longstanding promotional pricing strategy with an everyday low pricing strategy, sales plummeted. The store typically attracted bargain-aware customers, but these consumers did not immediately associate the chain's new pricing strategy with low price and good value, despite the fact that it was heavily marketed in these terms. Still the company maintains a Price/Earnings ratio of 52, above the average retail industry P/E ratio of 42.7 and above the S&P 500 P/E ratio of 17.7. The company is leaving no stone unturned to become cost resilient, and is focusing on closing underperforming stores and exiting its catalog business.
DEVELOPING PROFITABLE CUSTOMER RELATIONSHIP. It is a challenging time for most business leaders today. Leaders are demanding their company’s grow and so marketers are continually focused on driving their products and services into the hands of new customers. Unfortunately this intense focus on attracting new customers has taken attention away from established or past customers. It is measurably more expensive to attract a new customer than to retain an existing customer.
When a consumer sets out to fill their cabinets with their everyday necessities the owner and operator of these grocery stores needs to take into consideration the wants, needs and desires of their shoppers, how to pull them in and how to keep them. Michael Porter provided a framework that models an industry as being influenced by five forces. The strategic business manager seeking to develop an edge over rival firms can use this model to get a better understanding of the industrial context for which these firms operates. Porters first of five is Rivalry among competing firms is where firms strive for a competitive advantage over their rivals. Rivalry in the grocery industry is a strong competitive force for several reasons.
The basic necessities will always be bought by consumers no matter what the economy is doing. Companies within the sector do not have as much potential for immediate growth but provide steady growth over time. The relevant macroeconomic factors that affect information technology sector are economic, legal/political, technological, socio-cultural, demographic, and international. The economic factors that concern this industry include unemployment, consumer sentiment, and inflation. The consumer staples sector need consumers to be employed: so the consumers will have money to purchase more products.
Bloomingdales is a higher end store that sells high quality products at a high price. They are currently losing many customers because the economy will not move out of the stagnation period. Right now the customers need to be saving their money in case they need it later to pay bills rather than spending it on clothing. Many consumers are starting to shop at stores like Macy’s or Kohl’s where they are offered almost the same quality products at lower prices. Some of Bloomingdales biggest competitors are Neiman Marcus, Saks Fifth Avenue, Bergdorf Goodman, Barneys New York, Lord & Taylor and Nordstrom.
12 REVENUE APR 13 APR 20 BELROSE CH. 29 INTANGIBLE ASSESTS APR 27 MCWHORTER CH. 3 PRESENTATION OF FINANCIAL STATEMENTS MAY 4 MAY 11 FEB 16 ROBERTS CH. 27 IMPAIRMENT OF ASSETS Summary
Although Starbucks does face much competition, one of their biggest threats seems to be themselves. They have grown quickly which means they had to spend numerous amounts of money to open new stores and expand their products. “The company had its success through baby boomers in the 90’s, but now the Generation X is not liking the environment of the shop and the young generation feel out of place in the coffee shop, above all the price of coffee seems to be little expensive to them ("Case: Starbucks- Going Global Fast", 2012)”. With Starbucks wants to grow r rapidly and business oriented, it could be possible that they forget how to give customers that one on one customer service. Starbucks was a coffee shop that allowed friends to come together over a cup of coffee and now it has expanded with Wi-Fi in stores, and online stores.
The first red flag would be that they are competing with huge computer companies that can have anything a customer needs readily available to ship. While Keystone seems to be doing a great job keeping up with the demand of certain products, they are forced to charge the customers more money for those products. While this has not currently affected them, it could in the future and could eventually be a problem for them. Another thing is that although business is booming right now, computers businesses do very well when the economic conditions are good. There are reports that say the economy will grow over the next few years (2010), but there is a possibility that they could be wrong and that won’t happen.
Case One: Tanglewood Stores and Staffing Strategy MGMT 485 Selection & Placement Staffing Organizations Authors: Herbert G. Heneman III Timothy A. Judge John D. Kammeyer-Mueller To: Daryl Perrone, Staffing Services Director Subject: Tanglewood Stores and Staffing Strategies Date: 1/29/2012 In today’s increasingly competitive retail market, companies are always looking for ways to improve performance and increase revenue. One important area some companies excel better than others in is staffing. Who a company chooses to staff it’s stores as well as how it chooses to do so will greatly affect the chances of its success. After reviewing the Tanglewood case, we have come up with some suggestions pertaining to staffing quantity as well as quality.
Lara Ramey Southern New Hampshire University OL 442 – Professor David Miller April 25, 2015 Final Paper: Data Security With technology taking over businesses and costs rising higher by the year, having a solid data security policy in place is an extremely beneficial and important part of protecting an organization. Sinrod (2010) discusses how financially damaging data breaches can be for an organization, with an average cost of $6.75 million per incident in 2009. Breaches can be expressed both in and out of the organization, with especially staggering statistics on employee theft. Dwyer (2014) states, “39 percent of data theft from businesses comes from company insiders. Even more troublesome, 59 percent of ex-employees admit they