Question

2. How have companies such as JC Penney and Target tried to change their position (reposition their stores)?

Answer 1

Initially JCPenney was designed to concentrate on discounts, deals, and promotions. JCPenney will highly define goods and then give fast discounts with deals and coupons. The price change came with merchandise to which the customers were used, not brand new merchandise. Once JCPenney first opened the shop was a place for everyone in the family to find great fashions. Finally, JCPenney put itself with a group of bargain hunters. JCPenney was known to have promotions, price-focused advertising, and later marked prices. JCPenney has positioned itself as "The Favorite Store in America."

The recent stellar sales results from Target are the first fruits of a strategy set in motion by CEO Brian Cornell and his management team in early 2017. Cornell and co. committed to investing $7 billion in capital over three years in store, digital and supply chain enhancements, and developing new, exclusive brands to respond to the needs of a new retail era. America's #2 department store discount retailer has vowed to surrender $1 billion in continuing annual operating income to sharpen costs and boost less lucrative digital sales.