The Price Is Righter

J.C. Penney's new CEO believes he can revive the struggling department store by tapping into shoppers' frustrations with sales gimmicks

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Today's consumers respond well to transparency, though, and to businesses that admit their mistakes. The success of the Domino's "We Were Wrong" campaign is Exhibit A. So Penney's disavowal of marketing games should build customer trust. At least initially, the slashing of all list prices should also boost sales.

But what happens when the novelty wears off and nothing seems special about everyday prices? By then, Johnson hopes, J.C. Penney will be a place that shoppers love because they like the merchandise and atmosphere, and they won't fret about doing better elsewhere.

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