Reason for the Rebrand:
Earlier this year JCPenney
unveiled a new logo design. In addition to the new logo, JCpenney announced (on
January 25, 2011) that they are performing a complete renovation of their
marketing strategy as well as their product line. JCPenney CEO Ron Johnson made
the following statement regarding this announcement: "The department store
is the number one opportunity in retail today. We are going to rethink every
aspect of our business, boldly pursue change, and create long-term shareholder
value, as we become America's favorite store. Every initiative we pursue will
be guided by our core value to treat customers as we would like to be treated -
fair and square. Beginning February 1, we will have Fair and Square Pricing,
making every day a great day to shop. We will create tremendous excitement
through monthly promotions that are in sync with the rhythm of our customers'
lives. And we will transform each and every jcpenney store over the next four
years with a month-by-month, shop-by-shop roll-out of exciting new merchandise
initiatives.” In recent years, JCPenney had experienced declining sales and
numerous store closing. This rebranding initiative is undoubtedly a response to
the department store’s recent struggles. The new logo looks to be an attempt to
modernize their look in hopes of increasing sales.
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| http://www.shoppingblog.com/2012pics/jcpenney_new_logo.jpg |
Characteristics of new logo:
According to JCPenney,
their new logo is intended to remind consumers of the American Flag and their
“commitment to treating customers Fair and Square.” Additionally, the imagery
of the square will play a significant role in the companies marketing
campaigns. As you can see in the picture to the right, the new logo consists of
a red square outline and a blue square in the top left hand corner with ‘jcp’
in white text. It’s a very simple, clean design that depicts a more
contemporary feel than their previous designs.
Implementation:
JCPenney began its
implementation process on February 1 with the unveiling of their new logo design
and announcement of the planned overhaul for their marketing strategy and
product line. In August of 2012, JCPenney will begin updating their stores
nation wide with their updated look and new merchandise. The implementation of
these new initiatives is expected to conclude by the end of 2015.
Opinion:
In my opinion, JCPenney
has been long overdo for a total transformation of their brand. The old
JCPenney logo didn’t elicit any sort of representation of the brand, which only
added to the confusion of their brand identity caused by the company’s overuse
of sales events. While the new logo design is moderately boring and not exactly
eye-catching, it has to potential to be effective. If JCPenney is able to
successfully employ their new marketing strategy and create the imagery they
desire with their new logo, it could become an exceptional representation of
the brand. In turn, creating a strong brand identity and clear positioning of
the company in the minds’ of consumers. As it seems, they are off to a good
start, since beginning the rebranding process the department store’s stock
value has increased and the outlook for 2012 is bright.
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