Plan for growth - Essay Example

Commentary I agree that having social and price elements of the plan is critical to successful growth. Holidays is a great opportunity for any business to grow considering the competitors in the market take a break, and JCPenney uses this opportunity to increase its sales. The progress of JCP can be attributed to a renewed focus upon customer proposition which makes the company stand out in the marketplace. JCPenney has reestablished and redeveloped right assortment of merchandise including sought-after national brands, well-known private brands, and exclusive offers found by the customers only at JCPenney and that are valued by them a lot.

JCPenney has become a digital leader as well by advancing jcpenney.com website’s mobile commerce functionality. The website provides its customers with suitable and convenient shopping options using which, they can get the merchandise shipped to their homes. JCPenney’s current efforts are directed at developing an enterprise-wide inventory network that would make its customer service more efficient in terms of reduced delivery time. You have rightly pointed out that understanding the way customers like to receive communications is an essential element of growth and social strategy of any business.

Nevertheless, having realized that young customers make a large part of the company’s customer base, JCPenney has directed its attention toward attracting younger customers by introducing more in-store attractions popular among young generation that can be exclusively found at JCPenney. The chief financial officer of JCPenney reflects upon the company’s growth strategy and the ensuing increase in profitability saying, “By successfully focusing on our core business strengths, we delivered three consecutive quarters of positive sales and developed a strong foundation for growth” (Record cited in JCPenney, n.d.).

References:JCPenney. (n.d.). company news. Retrieved from http://ir.jcpenney.com/phoenix.zhtml?c=70528&p=irol-newsCompanyArticle&ID=1975474.