Jc Penney 's Time Frame For The Mini Mall Essay

Jc Penney 's Time Frame For The Mini Mall Essay

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According to Joe Skorupa, in his article JC Penney 's Turnaround Is Years Away, “Johnson’s time frame for the mini-mall concept to reach maturity in every JC Penney store was 2015. The mini-mall concept was to turn JC Penney into a small-scale mall. Ron Johnson wanted to separate each brand into small shops with in JC Penney. There was also a coffee shop with iPads and games for the family incorporated in areas of the store. Imagine a much smaller mall inside JC Penney stores. He was clear in his report to analysts that it will take the time to see results because the goal is not to improve JC Penney but to transform it. “Due to these changes JC Penney 's nearest debt maturity was on October 2015 when its $200 million 6.875% medium-term notes mature.” (Halkias, 2014). A great wat to explain will be with the product life cycle (PLC) “the course of a products sales and profits over its lifetime. The PLC has five distinct stages, number one is product development this is when the company finds and develops a new product idea.”(Armstrong & Kotler, 2013, p. 242). At this stage the product sales are zero and the company’s investment costs mount. Second is introduction, the period of slow sales growth as the product is introduced in the market. Profits are still nonexistent in this stage. Number three is the growth where the rapid market acceptance and increasing profits. Number four is the maturity where there is a slowdown in sales growth because the product has achieved acceptance by most potential buyers. Lastly number five decline is the period when sales fall off and profits drop. (Armstrong & Kotler, 2013). According to Mazzone & Associates, the retail industry matures when the industry value added (IVA) mirrors the U.S . GDP. A 4...

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...ng Day. Macys and Kohl’s opens at 5p.m. and the more upscale retailers such as Dillard’s close on Thanksgiving Day. The retail stores that open so early are also ruining the chances of making the profit on Black Friday due to extending the time open. In reality, these stores are open more than 24 hours straight.
Veronica also shared that December is the biggest month in the fourth quarter. (V. Yates, 2016) JC Penney’s focus during this month is the advertisement. It’s highly important to know where to advertise. Advertising will help get the customers in the stores. The main focus is to bring customers in not only to buy one sale item but to purchase other items as well. Veronica made a point and said, “Granted everyone is shopping, so how will we bring our new and existing customers into our stores.” Seasonality is definitely an important aspect for retail stores.

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