In Response to Ethan

Do you think conspicuous consumption will become worse as time goes on? Or have we reached the peak?

There is no doubt that conspicuous consumption will become worse over time. Social status is important to such a great number of people and buying name brand things is just part of life. Being seen with a certain logo or brand name makes people feel better about themselves. Why wear a nameless product when you can wear a popular brand? Price does not seem that important to many of the consumers either. Like the video said, people are not just keeping up with the Jones' anymore; they are trying to one up the Jones’. That often means buying really expensive things. These spending habits are making more and more people sink into deep debt. How will these consumers who are in debt ever be able to get out of it if they keep up these spending habits?

JCPenney's New Martketing Approach

            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?