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.
Analysis Marketing Plan Surfside Leisurescapes has steadily been losing their market share, as they were an established company in a untapped market it lead to new competitors easily entering the market as seen in Exhibit 1. The ‘old grass roots’ strategy that the owners previously employed failed to compete with new entrants. This lack of marketing strategies is tied back to the inexperience of previous management. The lack of a concrete marketing strategy caused the deterrent in sales and must be addressed for Jensen to increase net profit in fiscal 2005. The demographics in Newmarket (Exhibit 12) indicate that over 47% of Newmarket’s population
The business problems to be solved will include a restaurants need to improve operation efficiencies, reduce cost, decrease customer wait and sit times, increase customer satisfaction, and have real-time performance monitoring. Although Jade Asian Restaurant has received press accolades, their business has issues need to be addressed immediately. Jade Asian Restaurant had been a popular Chinese cuisine destination for the first couple years after its opening. In the past few years, the popularity has decreased due to its inefficiency in service and food
The marketing research is a great way to find ideas to make a company grow bigger and better. It also helps knowing what the competition will do, and how a company can make an even better idea to increase the number of the consumers. Competitive marketing intelligence is also important to a company when doing marketing research on the competition. As stated earlier, Competitive intelligence is the systematic collection and analysis of publicity available information about consumers, competitors, and developments in the marketplace. Both research and intelligence will help companies stay competitive; decide what is best for the company and the consumer.
It is beneficial for entrepreneurs to think more along the lines of all product and service aspects instead of in silos and just thinking about producing “products” alone or “services.” That concept is imperative for entrepreneurs to understand as customer service can be added as an additional component as well to a physical product. That will make the product more attractive. Developments in technology related to current products allow for room for new service concepts to grow, which is
Besides, if chains closed every time they lost money, there would be a huge loss in just the opening and reopening phases of a business. Consumers of Company Q's have requested that the company provide more health oriented products. After years of requests, Company Q's stores have began to offer a limited variety of products that are better for its consumers. However, of all the viable options of products to carry, Company Q only retains high margin items, that is, items that have a higher profit margin. While it is a positive thing for the company to recognize it's community's need for better foods, keeping only expensive health foods is almost like monopolizing the consumer's health in exchange for
In conclusion, Kudler Fine Foods needs an effective management team to operate successfully at their best ability by allowing them to implement their knowledge and skills to improve productivity around the business. Improving the website will definately allow the business to improve service therefore will atract more clients to increase revenue. Fixing this issue will improve many other areas of the business and become a better
Risk Factors of Bloomingdales Risk factors play a major role in today’s economy. Since we are stuck in the stagnation period and do not seem to be recovering for quite some time, businesses have to come up with a proper marketing plan that will help sell their products. All businesses suffer from the same risk factors. Some common risk factors include: product quality, price, brand loyalty, competition, managerial skills, etc. Many customers are shopping at lower priced stores because the economy is not allowing them to spend extra money.
• Some people at the firm are reluctant to take risks because they’ve been a very profitable company for many years. • Some people at the firm believe that the Quartz might cannibalize their existing core product the Aquavalve. • In order the sell the Quartz the sales reps sometimes have to point out deficiencies in their core products. Opportunities (External) • Breakthrough innovations are rare in the shower market and demand for a shower that addresses all the major problems of the day in one unit seems to be high. • Many existing showers wear out and need to be replaced.
They can not only learn how to develop a totally new customized delivery system but also consolidate a good business relationship with HomeHelp which is a big customer. The major business proposition for HomeHelp is HomeHelp can create an innovative logistics application by allying with Woodmere in order to realize the goal of lower costs and less inventory. It is win-win game if the two companies join together to reduce overall channel