Problem:
I need help briefly describing J.C. Penney's new pricing strategy, and also providing background on the company and department store industry.
Will J.C. Penney's new pricing strategy work in the long run even it seems to be not working at the current stage? Consider this position in terms of environmental factors such as economy, the competition, and changing consumer behavior.
How does this pricing strategy complement J.C. Penney's new merchandising and promotion strategies? Take into account J.C. Penney's segmentation, positioning, and branding strategies to explain this issue.
What can be learned from this case? Consider this pricing issue from both short-term and long-term perspectives.