Jcpenney Essay

In the day and age of shopaholics and fashion trends changing every week, looking into the history of JcPenney, a retail giant, is long overdue. JcPenney was founded by James Cash Penney. Before opening his highly successful retail store, he first worked as a sales person for the Golden Rule Mercantile Company ("J.C. Penney Company,”). After three years as a salesman, the founder of the company and his partner promoted Mr. Penney to a manager and partner of the company. Ultimately, this prompted him to opening his own branch of Golden Rule with a cash only policy which bankers in the area were sure that his plan would fail. On the contrary, his store grossed a total of $28,898 in sales ("J.C. Penney Company,”). Mr. Penney’s ambitions did not

Penney, the company was trying to diversify itself and gain as much ground in the industry as possible. There was auto service center, food facilities, discount stores, and other components that took away from the retail store atmosphere they were creating. Now the strategy is clearly defined. According to the J.C. Penney website, the mission of the company is to be dedicated to fitting the diversity of America with unparalleled style, quality and value. JCP is a retail store that sales, women’s, children’s, and male apparel. Along with the apparel, they also provide accessories needed to accompany the apparel. There are hair salons, portrait shops, and home decorum for sale. JCP appeals to the family how wants high quality items for an affordable price. One of Mr. Penney’s goals was to decrease the cost of the products the company purchases to allow for the customers to pay less at the register. The customers believe they are getting a great product for a great price because of the legacy JCP has developed of the years it has been in business and the experiences past families have had with the store. The avenue that JCP takes to ensure that their low cost strategy is maintained is the distribution channels that are set up around the country. JCP has acquired over 13 distribution warehousing companies that have allowed them to ship products to their store locations at a smaller cost than their competitors. They also have over 1020 store locations across the United States according to the official JCP website. With them having such a presence in all 50 states, they are able to market themselves and stay relevant in areas their competitors: Kohl’s, Sears, and Macy’s, have not ventured into as of yet. Their competitors compete in the same sector but they have different values that JCP is not concerned with at the moment. JCP’s advantage is to market the products that are sold as high value for low cost for the customer and moving with