Johnson Took to Maximize Profits Verses that of Ullman - 550 Words

Johnson Took to Maximize Profits Verses that of Ullman (Case Study Sample) Content: Students Name:Professors Name:Course:Date:Summary of the CaseMike Ullman who was the CEO of J.C. Penney and fired but afterward brought back after Jonsons strategies in the company failed. In his case for J.C. Penney, he advocated for a strategy that at first was considered to be coasty to the business but it helped the business in recovering. The case was about bringing back the traditional brand to help regain the customers. He backed up his strategy from the customers point for their actions through getting views from customers using social network. At the end his strategy for the company proved to have some impacts to the company.2. Strategic Approaches that Johnson Took to Maximize Profits Verses that of UllmanJohnsons ApproachA strategy of drawing down inventories in the business and laying off of some workers in the quest of savings on expenditure (Penny 2)Hiring a consultant who was a renowned marketing executive and also a branding specialist and well known f or his role as a manager (Penny 2)A hybrid strategy that included both everyday low pricing and high/low pricing business (Penny 3)Offered customer apologies for his errors and engaged them in a conversation with the Ullman ApproachA strategy of introduction of new attractions that were appealing and long beloved brands coupled with a promotional effort (Penny 2).New communication approaches to the customers (Penny 3).Listening to the business sales associates (Penny 3).Reaching to customer segments that were feeling jilted on Johnsons approach (Penny 3).Introduction of product assortment that heavily focused on a strategy of a three pronged merchandizeUse of social network such as Facebook to get consumers preferenceNegative and Positive Impacts of Johnsons StrategiesNegativeThere was constrain in sales by his approach and as a result customers were faced with the problem of some core products being out of stock at demand.Consumers felt lilted (Penny 3).PositiveThe approach drove d own costs that were incurred in the business (Penny 4).Customers preference was identified and brought back to the market (Penny 4).Positives and negatives of Ullmans approachPositiveIt incorporated the idea of understanding consumers purchasing power.Introduction of the Sephora brand was considered the most successful introduction in the stores and was highly productive (Penny 4).The private brand helped to create a positive margin in deliveries (Penny 4).NegativeRequired a lot of fundsThe approach brought about some legal problems with ot...