This past February, the popular shopping store, JCPenney, introduced a new marketing technique. The store is focusing on “Fair and Square” pricing. There will only be three types of pricing, which will be indicated by colored price labels. Red ticketed items will be the store’s everyday “fair” pricing stock. White ticketed items will indicate month-long values, which are typical purchases consumers make that particular month. Third will be what is called “Best Price Fridays.” The “Best Price Fridays” will offer the best priced items on the first and third Friday of each month. These pricing techniques are simple and easy for the costumers to follow. JCPenney prides itself on their customer service and with these simple techniques it will allow them to spend more time with the customers. Along with the new prices, the store is becoming less cluttered with wider aisles and less signage. I believe the new marketing approach is a good one. You can take advantage of the sales without using a coupon like before. How do you think the customers will react to the new approach?
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