JC Penny Pricing Mistakes

Who led the creation of the Apple Store experience before becoming CEO at J.C. Penney?

• Jeff Bezos

• Ron Johnson

• Steve Jobs

• Tim Cook

What was Ron Johnson's vision for J.C. Penney?

• Online marketplace

• Small store experiences within large stores

• Global expansion

• Technology integration

What immediate effect did Ron Johnson's announcement have on J.C. Penney's stock prices?

• They remained stable

• They plummeted

• They soared

• They slightly decreased

What was the result of changing the pricing strategy at J.C. Penney?

• Improved online sales

• 37% drop in market value

• Increase in customer loyalty

• Rapid global expansion

How long did Ron Johnson serve as CEO of J.C. Penney?

• 5 years

• 10 months

• 17 months

• 2 years

What is NOT a factor in how customers perceive value in a marketplace?

• Brand reputation

• Product quality

• Celebrity endorsements

• Logical reasoning

Which brand is known for not offering discounts on their products?

• Walmart

• Apple

• Target

• Nike

What pricing strategy creates the illusion of savings?

• Value-based pricing

• Discounted sticker price

• Cost-plus pricing

• Fixed pricing

Why did J.C. Penney's new pricing strategy fail to resonate with their regular customers?

• Prices were too high

• Lack of advertising

• Change from discount to everyday fair pricing

• Poor product quality

What is a key element of a brand's story according to the text?

• Price

• Marketing budget

• CEO's vision

• Location