Bad Marketing Hurts JCP
Robert Passikoff, president of N.Y.-based Brand Keys, explains what happened to J.C. Penney in opting for a “fair and square” pricing strategy. He argues that, while people say they know the brand and like the ads, they aren't engaged with it in any meaningful way (as consumers are with the retail operations of Apple.) JCP is last in Brand Key's engagement roster. He says that while consumers are going to spend 6% more this year than last, with an average holiday spend of $870.00, JCP, which lost $123 million last quarter, won't get much of that.