I was going to post this back in November, and then decided to hold back. Today I passed a huge billboard near Penn Station for jcp, and found myself saying… REALLY??? So decided to resurrect…
Almost as bad as Overstock.com trying to change their name to O.com. You saw how long that lasted. J.C.Penney has brand equity they could have banked on had they focused on that legacy, brought it back to life, upgraded stores, improved merchandise and focused on the customer, service, and appealed to what people remember. Bringing in Ron Johnson as CEO, whose personal legacy was built with initiatives at Apple and Target was recognized as a mistake from the get go by many. He does not have a clue how to run an operation like JCP… he came from power houses where launching unique ideas, with an already loyal and incredibly strong retail presence, was a whole different ball game than reviving a fading brand.
Unfortunately for the shareholders, Johnson is insisting that the customer who shops at Target, Macy’s or even Nordstrom’s will have any interest in shopping at J.C.Penney. He decided that he could recreate the “magic” he created at Target and Apple (places that already were the shiny penny, no pun intended) instead of recognizing the obvious difference with regard to the J.C.Penney Brand. It would be like trying to remake Hyundai or Nissan into Mercedes or Porsche.
Check this out: MediaPost Publications Penney Takes Pounding; Kohl’s Solid; Nordstrom Shines 11/12/2012
– Samantha Klein: if another company re-brands itself with no clear strategy behind it (and with a lower cased logo) – i am going to write in all lower case letters in everything i do (work emails, meeting notes, etc) for the next 6 months…maybe this will result in me being provided with an incredible opportunity to revive a brand – if so, i will actually create a team to develop a tested, sustainable and innovative STRATEGY behind it, so that, for once, it will become successful and be loved again by consumers everywhere.
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