Published by MBA Skool Team, Last Updated: February 05, 2019
Marketing Strategy of JC Penny analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on JC Penny marketing mix, help the brand succeed in the market.
JC Penny marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the JC Penny Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in JC Penny marketing strategy can be explained as follows:
JC Penny is one of the leading multi-brand retail chain brands in USA. It has a wide offering in its marketing mix product portfolio. There are various kinds of products offered by the company like clothes, footwear, electronic, furniture including bed and bath, window, jewellery, housewares, appliances, cosmetics like Sephora, make up, gifts, curtains, wraps, optical. JC Penny is known for their quality products and thus, they are cover a wide range of convenience products.
JC Penny Price/Pricing Strategy:
Below is the pricing strategy in JC Penny marketing strategy:
JC Penny offers goods and services which are reasonable for its customers.
The target segment is the young and urban families and thus, the prices are affordable. The official websites always come up with amazing deals. The loyal customers are provided reward points. There are gift cards, gift registry option and coupons. These can be accessed by customers by being a member or buying beyond a certain amount. There is JC Penny Credit Card which accessible in all JC Penny stores.
JC Penny Place & Distribution Strategy:
Following is the distribution strategy in the JC Penny marketing mix:
JC Penny is present in 800+ locations spread across various different states in USA. There is a ‘Find a store’ option that will help customers find a store near them or in the location. The most dominant places where JC Penny is present is New York, Harrison AR, and Franklin Square.
The main target is Millennial and the people who average American with reasonable income.
JC Penny Promotion & Advertising Strategy:
The promotional and advertising strategy in the JC Penny marketing strategy is as follows:
JC Penny uses several media channels to promote itself. The promotional strategies include Facebook, Twitter, Instagram and offers like 60 percent off, Big Winter Wrap Up, Final take Clearance, Hot sellers, sign ups for texts, email alerts. These strategies help the company to increase the reach and make profit. There is option of free shipping beyond an offer. JC Penny also advertises through local newspapers, online ads etc which helps build the brand visibility.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of JC Penny.
JC Penny has more than 98000 employees and puts the comfort and affordability of the customers first. The online site has customer support which aids customers regarding order complaints, delivery details and any kind of queries or trouble they may face while accessing the site. The people strategy for JC Penny ensures that the employees are well trained so that they are focused on delivering customer satisfaction.
JC Penny stores, its logo, store interiors etc are its biggest physical evidence. The company has several stores in over 864 locations in 49 states. The store have a peppy vibe to cater to the target segment. The clothing segment displays clothing for men, women, and kids. The logo is red win colour with a red square. There is a JC Penny app for the customers where they can access much more discounts or offers.
JC Penny customers can visit a brick and mortar store and buy the merchandise. They can also buy goods from the online store which has many discounts. The customers can track their order through the option available and get live updates about their order. The average delivery time is 1-4 days. The payment can be done through different online methods. This concludes the marketing mix of JC Penny.
About JC Penny:
JC Penny is an American company. It was founded in 1902 by Jill Soltau. The number of locations are 864 and is present in 49 states in United States, Puerto Rico. It is a public company and belongs to retail industry.
The JC Penny company has it’s headquarter in 6501 Legacy drive, Texas. The founders are James Carls Penny, William Henry McManus.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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