Jeff Minkin: JCPenney Announces New Boutiques, Again Changes Sales Strategy JCPenney replaces its confusing "month- long value" pricing campaign. Jeff Minkin, respected sales expert, explains how the company plans to bounce back. San Jose, CA (I- Newswire) August 13, 2012 - JCPenney CEO Ron Johnson introduced a company- wide sales campaign to bring in more traffic to the JCPenney brand. The company sought to replace big sales events with ongoing low prices called "month- long values." A recent article from Daily Finance discusses Johnson's decision to switch the company back to sales. Jeff Minkin, expert sales analyst, believes that Johnson and his team are still trying to find the right strategy for the company. Within the last several months, JCPenney's team has seen little improvement in business with the addition of their "no sales" strategy. Johnson said at a Piper Jaffray investor's conference that the new strategy has, "just been kind of confusing." Sales strategist, Jeff Minkin, agrees. Minkin believes the decision to take the word "sale" out of the company's lexicon drove away bargain- loving consumers. JCPenney's "month- long value" strategy was meant to encourage spending by offering sale prices on select products for an entire month, but after one quarter with the new motto, the company saw a decrease in profit. JCPenney executives announced their plan to return to sales in a meeting with shareholders last month. "We're moving away from the word 'month- long value' because no one really understood that," commented Johnson. Jeff Minkin is curious to see if this simple change helps JCPenney make their numbers again. Johnson says the company will continue trying to cut back on sales events and coupons and will communicate a better pricing strategy with consumers. "Our marketing isn't doing the work," states Johnson. Jeff Minkin agrees with the company's decision to add the word "sale" back into to their marketing campaign. "The term 'sale' communicates a pricing system that everyone understands," comments Minkin. "This is exactly what JCPenney needs to help bring in more traffic." Jeff Minkin states that the company is taking steps to gain back their clientele. "National retailer JCPenney has vowed to make even deeper cuts in merchandise to draw back in more customers. CEO Ron Johnson announced this tactical shift would take effect in August," Minkin comments. In addition, JCPenney is hoping to attract the 'back to school crowd' with permanent markdown pricing. ABOUT: Jeff Minkin is passionate about sales and technology, and combines both interests in his career as a regional sales manager. For ten years, he has been a leading sales figure in the video and IT industries, bringing his organizational abilities and sales prowess to technological companies across California. Minkin has worked for such companies as ANEW- ct Technologies, Da- Lite Projection Screen Company, and more.
Additional Resources Company Contact Information: PR Authority Michael McGarety 10 W. Trade St. New York, NY 10005 Phone: 888-863-3776 Published in: Business Tags: Jeff Minkin Jeff Minkin CA Jeff Minkin San Jose Published on: August 13, 2012 Original Source: Jeff Minkin: JCPenney Announces New Boutiques, Again Changes Sales Strategy