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May 3, 2012 ISSN# 1545-2646
Rethinking Sales Ads
Recently one of the midline department stores JCP J.C. Penney launched a revised approach to marketing their stores and the goods they sell. It was not so much a new store entrance or internal displays but how they are going to market.
In this highly competitive sector, the clothing and home goods store has decided to walk away from sale papers, coupons, advertised discounts etc. What they are doing to attract their customer is to offer them the best possible value on the merchandise as the price on the rack each and every day.
Rather than a sale paper for the coming week discounting certain items and then other items the next week, they set a price value for the merchandise and sell it everyday at that price point.
To do a little research, I visited a JCP and walked around. Now Im not a shopper so I could not necessarily give feedback on the price points they selected to sell merchandise at but the clean pricing strategy and absence of discounting sale distraction was kind of pleasing to the eye.
I did see a few Best Price racks which to the best of my evaluation were items that most likely did not sell initially or were just a few left of a certain style and they placed them on those racks for quick sale.
It is an interesting marketing approach for JCP to take. It removes or places some of the cost for the weekly paper battle directly back into the hands of the buyer. It lowers the corporations overhead and that is being passed onto the loyal consumers that shop their stores.
Only time will tell if the strategy will pay dividends and their customers will increase purchases or stray away to other competitors based on their marketing efforts.
This week I suggest you review your own marketing efforts. How are you positioning yourself in the eyes of your customer? Are you competitive with your pricing structure? Is there a way to increase profits while reducing costs and bring more business to your doorstep?
What thoughts might you want to share? Either email us of give us a call. (313) 527-7945.
Questions or comments – email us at partners@jklassociates.com or call our Office at (313) 527-7945
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