J.C. Penney's Risky New Pricing StrategyRafi Mohammed
J.C. Penney CEO Ron Johnson recently unveiled ambitious plans to transform the 110-year-old department store chain into a 21st century retail powerhouse. Leveraging his experience at Target and Apple, Johnson aims to create 80 to 100 highly-branded “stores within a store” (e.g. a Martha Stewart boutique). Channeling the spirit of Apple’s Genius Bar, every J.C. Penney will also have a “Town Square” offering complimentary services to customers as well as promotions such as free hot dogs and ice cream in July.
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