JCPENNEY ANNOUNCES $1B TURNAROUND PLAN
Key Point: A few years back, it seemed one more major retailer would soon be history — but don’t count JCPenney down for the count just yet. The company is out of bankruptcy and back in the game with a $1 billion strategy to upgrade performance and rake in a pretty penny.
Founded by James Cash Penney in 1902 as The Golden Rule Store, JCPenney had just one operating principle in the beginning: to treat others as you would like to be treated. Given that a big part of the company’s new strategy is to focus on customer experience, that standard may be making a comeback.
How will merchandise change? Not much, it seems.
However, the plan does include a focus on “inclusive and affordable merchandising, customer service, and local community engagement.” And JCPenney’s current CEO, Marc Rosen, has said, “JCPenney is on strong financial footing and is steadily increasing relevance and frequency with our core customers.”
It looks like one of the most iconic stores in America is getting ready to rumble once again.
RISKS OF GENERATIVE AI: 6 RISK MANAGEMENT TIPS
Key Point: Artificial intelligence could be just the tool many companies need to ramp up their success level, but AI doesn’t come without risks. Just what are those risks, and how can they be mitigated? You can bet there’s plenty of C-suite discussion revolving around those very questions at this very moment.
Most marketers are concerned about copyright issues, inaccurate data, and privacy … but there aren’t many clear-cut guidelines yet. Throw in issues like security safeguards, regulatory developments, and employee misuse, and things really get cloudy.
To help you get started managing risks related to generative AI, here’s a guide to six best practices. While you’re reading it, you may wonder, “Was this guide created with much help from AI?” Either way, the information is human approved.
FINDING THE RIGHT ROLE: 4 KEY CRITERIA
Key Point: Getting qualified for a career in marketing is a huge step towards success, but don’t jump at a job offer too quickly. The sage advice given here is ostensibly for data scientists, but the points made can be a big help to job seekers in any marketing discipline.
If you’d rather find the right fit to begin with — rather than hop from employer to employer hoping to find a match somewhere, someplace, sometime — take a few minutes to consider the tips provided. Yes, landing a position in your discipline is exciting on its own. But the better your tools are for deciding which company to join, the better your experience is likely to be after you accept the job offer.
COMPLETE GUIDE TO UNDERSTANDING CUSTOMER PSYCHOLOGY
Key Point: You’re probably familiar with Cialdini’s excellent advice on marketing psychology, and maybe you’ve even taken courses that dig deep into the science of how prospects become customers. Don’t stop learning just yet. This “complete guide” (note the use of persuasive words in the title) can shine a light on ideas you may not have yet considered.
From funnel entry points to taking advantage of analytics to leveraging the magic of “you,” and beyond — there’s zero fluff and a bevy of ROI-producing concepts here. Whether you’re just getting started or have been marketing since the day you were born, don’t miss this. It’s well worth the read.