As I mention on previous posts, I like to watch the TV show "Shark Tank' where people try to convince investors to invest in their fledgling business ideas. I find the show educational. There is a lot to getting a business started as well as keeping it afloat and profiting.
On just every day day to day businesses I try to analyze on what I think are brilliant business moves and critique what I think are duds.
As I mentioned before I thought (actress) Sophia Vergara is brilliant in promoting her KMart line of clothing. (Yup, KMart) She actually wears her clothing line and jewelry on her TV show "Modern Family".She will wear her own line so that you can see that the clothes are wearable and even nice enough to wear on her popular TV program.
Believe me, her strategy has worked.
I bought a bunch of tops, shoes, underwear and pants (online). She has amazingly nice decent quality stuff. Some of her tops are as nice as some of the tops I've bought in high end boutiques, really. I am signed in as one of their 'bloggers". (I get gift cards as a result of my input!) :-P
Sadly, the same can NOT be said for Martha Stewart. I think she just puts her name on the product . I do not think she has ever tried or used or even wishes to use her own product line. It's just cheap crap.
I can't help but critique JCP's marketing strategy with their 'new" no coupon/prices all the same/no sale ever strategy
.Sure, that may appeal to those kind of people who just go in the store solely to buy, for example, a pair of black pants. Those "shoppers" (if that is what you call that group of people) go in the store buy the pants and leave.
Who ever is in charge of this shopping /marketing strategy should be fired.
I think their stocks are going down the shitter as a result
They have no clue in the mind set of someone who likes to shop.
And these are the type of people (people who like to shop) that brings in the profits.
It's not the "one item thing I need" shopper.
Kohl's however has a brilliant business strategy.
Coupons coupons coupons and early bird sales! Sales sales SALES!
They work on the "impulse shoppers". You go in to buy those black pants but you have a 15% off coupon and you just happen to walk by the purses with the 30% of sale sign. Sure you don't need that purse but how can you resist that sale?
Perhaps all in all JCP prices might be better but it is that 'hunt for the bargain' that lures those extra "I better buy this now 'cuz I'll need it later"purchases.
My advice to JCP is: go back to those $10.00 coupons and sales events! Have a celebrity product line with the celebrities actually wearing their clothes or using their own products!
Wednesday, June 20, 2012
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