JCPenney Jessie Penny

Browse times：1109     author：admin    time：2019-04-12

1. What is JCPenney?
In 1902, Penny's founder, James Penny, opened his first retail store in the mining town of Wyoming with two other partners. The gold rule shop was the predecessor of JCPenney. Before opening the store, Penny studied the situation of the town, the hobbies and needs of the residents. He purchases quality goods and labels the price on each piece. The price of the goods is the same for all walks of life, which was not common in that era. Penny's store rules only pay cash, not credit. Although this practice has been ridiculed by local businessmen - because local residents mostly use credit consumption, Penny Store has attracted customers with its quality products and good service. Soon, the Penny store was a success.
In the next two years, Penny became the mainstay of three gold rule stores in southwestern Mingzhou. Penny's vision is to open a series of chain stores in the Rocky Mountains. For him, the name of the Golden Rule does not only mean marketing strategies. It also represents Penny's philosophy and religious faith. Therefore, Penny Company insists on providing customers with high quality and low price products. In this way, quality service, frugality, smart shopping methods and a large number of growing, talented store managers and colleagues have laid the foundation for this new institution.
In the 1980s, the structure of Penny Company changed significantly. Based on customer survey results in the late 1970s, Penny took on the current product positioning, focusing on high-quality clothing and soft and comfortable home decoration. In 1983, the company announced that it would spend $1 billion to fully renovate its storefront.
In 1988, Penny's headquarters moved from New York City to Dallas, Texas.
In the early 1990s, Penny completed the transition from a sales store to a national department store in the United States. Women's wear accounts for 80% of Penny's clothing business.
One of Penny's main strategic marketing goals is to provide customers with a comfortable, modern and trend-oriented shopping environment, create a shopping atmosphere, and attract customers with excellent service and competitive commodity prices.
In 1995, in 1996, in 1997, Penny acquired three pharmaceutical companies based on its Spreford Pharmaceutical Company, making it the fourth largest drug chain in the United States.
The Penny Store is not only a shopping choice for American families, but also a partner in the community where the store is located. As early as the development of Penny, Mr. Penny recognized the importance of community service and encouraged employees to actively participate in local community life. To this day, Penny is still involved in education, minority business development, and support for women’s liberation, volunteering, and environmental protection.
2, the benefits of passing the Jcpenney audit
1. Establish a management system that meets international requirements, which can be internationally recognized and increase the ability to compete positively with well-known brands;
2. Promote consumers to build positive emotions on products;
3. Stabilize cooperation with buyers and broaden new markets to lay a solid foundation for long-term development;
4. Improve management systems and improve relationships with employees to increase productivity and increase profits;
5. Minimize potential business risks such as work-related injuries and even deaths, legal proceedings or loss of orders;
6. Develop new markets and customers: Socially responsible companies will stand out from their competitors.

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