US is a highly customer sensitive market. Radical experiments can work, but when backfire, retrieval is generally almost impossible.
Undoubtedly pricing strategy is the key to bring customers in stores. US customers are known to drive miles to avail small coupon offers. Price war is tough. In this situation why did JC Penny showed bravery in changing its pricing strategy and stopped issuing coupons to its customers who were used to of getting deals from the store via coupon based promotions. That resulted in a significant decline in customer visits, resulted in sharp decline in sales which had fallen 26.1 per cent against an estimated decrease of 17.9 per cent.
Before the start of Christmas session, JC Penny needs to bring its customers back. Stores are now focusing on putting manufacturer’s prices together with Penney’s deal prices. They are hoping that these two price tags are expected to attract customers. Stores are also starting seasonal vendor promotion technique which means partnering with vendors that are already putting their products on sales.
Spiritual Journey into the Entrepreneurship begins with smart ideas.
In my view, entrepreneurs are the most spiritually connected people who can turn some craziest ideas into profits.
So are you an entrepreneur or not, there are several examples and explanations. In my view, keeping explanation simple is important, hence the following description:
Businessman thinks for today – An entrepreneur has a long term vision
For Businessman incremental growth is good – An entrepreneur focuses on exponential growth
Businessman is cheeky – An entrepreneurs is customer focused
Businessman considers promotion as liability – An entrepreneur thinks it as an investment
As an entrepreneur your biggest challenge is to lit up the passion fire at a level that could drive your entrepreneurial spirituality into exponential success. Business environment is challenging, there is competition out there, and only the best with the extreme passion will succeed!