Table of Contents
Goal of the Company
The main goal of this article is to develop a plan for JC Penney and corporation which can increase their sale. They are now targeting mainly the women of the age group 25-34 years as women of this age spend much on their look so as on their wearing like cloths and shoes. JC Penney not only wants more and more customers of this age but also wants to retain them as a regular customer and also want to make them buy more and more items in which they deals. They target customers by relating them with special days and occasions like mother’s day, international women day, valentine day and other such type of days which are related to the women of this age and gives rebates and special offers for attracting them. Their motto is to attract women of 25-34 ages without affecting or losing the customers of other age and sex. They are also taking feedback from the customers so they can enhance their quality and services and can add more customers. Each year they does survey that what is the latest trend coming in the market, what types of design and colours are more liked by the women of this age so they can make corresponding changes in their product and can make favourable to the market.
Help of the Media
It is the fact of the market that if you are in a big business then in order to increase your business you have to take help of the advertisement. Now for effective advertisement support of media is compulsory. Different categories of media are active in the daily life of the people, like television, radio, magazines, news paper and most important weapon for the advertisement is internet. JC Penney & company prefers internet for their advertisement, they uses posting of articles, direct mail to the customers, advertisement on the social networking sites like Facebook, Twitter and Orkut where women of the age 25-34 spend most of their spare time. Sometime they also make call to their customers for introducing them new launch of the company. As women from small cities and urban areas also equally contribute in their sale so they always make such type of the advertisement which women from every place. JC Penney advertises themselves with the help of some popular advertisement company like Mango Advt., Sephora and Aldo Advt. Corporation. Rascal Flatts are working as their entertainment partner.
Statistics which can affect their sale
For increasing the sale or keep knowing different ideas of attracting the customers it is very important the facts which are related to the age groups in which we are interested, because of this reason lot of surveys are made by the company. The results of different surveys shows that every year US people spends billions of dollars for the products in which JC Penney and company is working so if they are able to increase some percentage of customers then benefit will increase in billions. According to the surveys it is clear that women of 25-34 ages like to live in big cities so advertisement should cover these cities effectively. Also there are nearly 20 millions of women of the age 25-34 are households so product of the company should be based on them. It is proven that attributes of human behaviour changes with their age. It is seen that women of the ages 25-34 have some similar choices and trends so if company will be able to catch that trend or choice of this age group then it would be very simple to attract nearly all of them. As women are the main deciding factor in the decoration and look of the house so company products like curtain, bed sheets, cushion, pillow cover and all such type of products should be attractive for the women. In this JC Penney can also acquire the field of bed, window and decorative items.
Why focusing on the age group of 25-34 years
In the customers of the JC Penney and company the involvement of the women of the age group of 25-34 years is very less compare to other big companies like Walmart, Kohl’s, Sears, Macy’s and Target. Now as the survey and other report shows, the age group which mostly look on their clothing and other fashionable items lies in the range of 25-34 years range. So if the number of the women customers of this range of age increases then the JC Penney & company can increase their profit to much extent. Presently the percentage of the women of this age covered by the company is nearly 15% of the total market and they are planning to increase it up to 25% by the year 2014, for which preparation is going on and company will start launching their products in the beginning of 2012.Generally women of 25-34 age groups become mother and spend more and more on their children so JC Penney is also working over the products based on the children.
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JC Penney and the Internet
Women of this age group like to shop on internet by searching the products by using their mobile or computers. They first search the required products and their availability on the different stores and then compare their prices at different places the store which offers them desired product at the right cost, they purchase from there, as women search for the price more than the men. Now it is the task of JC Penney to design and make their websites more and more attractive so that they can gain large number of customers. The biggest rivals of JC Penney in internet business are Amazon, Walmart, Target, Sears, Overstock and Macy’s. Presently Walmart stands on 4th position in the list of their competitor. Now as the technology is increasing market is shifting to the world of internet and people with the young age spends much time on internet compare o other media. So for a business company like JC Penney should have a strong business profile with the internet shopping.
Competitor of JC Penney and company
As the products in which JC Penney & Company deals is a very common type of field so they have large number of competitor in the market and little mistake or delay in the launching of new trend and product can result in the major decline in their customers, as women of 25-34 year age are very active in searching the new launch of the interesting products, so the products of JC Penny & Company be attractive and affordable. The major competitor companies of JC Penny & Company are Macy’s and Kohl’s and the strength of these companies are their brand name, faith in the public and their attractive and affordable products. The other competitors are Gap, New York & Company, Banana republic and Victoria Secret etc. Also the number of stores of Macy’s and Kohl’s are more in compare to the JC Penney & Company. For the age group of 25-34 the number of stores for Macy’s and Kohl’s are over 110 while in case of JC Penney & Company stores are little bit lesser than hundred. Generally while looking for the competitors we consider only big brand names companies but the fact is small or local brands also contribute to the market, according to a survey local brands contribute nearly 25 percent in the big cities while more than 40% in the towns, where people have less income and cannot purchase costly item. So company should also launch products for the middle class.