This is a group work, we are analyzing JC.penny. My task is to propose a prescriptive strategic revival plan on JC.penny.
Here’s the whole instructions in case you want to know more about it.
The group will identify and study an interesting consumer behavior issue. For the project, you will select an existing product or service that has been struggling or failing recently. Your task is to do a diagnostic analysis of the reasons for the failing brand’s problems and then to propose a prescriptive strategic revival plan. You’ll first trace the history and current marketing strategy of the brand through library research, why the brand is in trouble, identify existing positioning strategy, and describe a consumer research approach to guide your methodological approach to better understanding the issue (e.g., a conduct a focus group/depth interview, use survey research, conduct an experiment in a test market, etc.). The analysis also should be clearly grounded in consumer behavior concepts. Examples of topics of studies conducted by my students have looked at such brands as American Express, Amazon, Lululemon, Starbucks, Toyota, SeaWorld, etc.. You may discuss your ideas with me and you are free to focus on any area of interest to you.
The main task of the project is to analyze the consumer behavior issues underlying the brand’s problems and to propose a new marketing strategy for it. You will need to outline why customers will be attracted by the new strategy in addition to why your strategic approach is better than the current one. You will also have to apply the theoretical concepts from course material in your analysis.