What can marketers learn from JC Penney’s attempt to eliminate sales and promotions?

Question

Responses

Coupons are losing popularity in the 21st century.

Price is the biggest factor when consumers are making purchases.

There is a decreasing market for discount clothing retailers.

Consumers prefer the perception of great deals to overall low prices.

choose one

Answer 1

Consumers prefer the perception of great deals to overall low prices.

JC Penney's attempt to eliminate sales and promotions in favor of everyday low prices demonstrated that while some consumers may appreciate consistent pricing, many others are motivated by the excitement and perceived value of discounts and promotions. This suggests that creating a sense of urgency or special offers can be more effective in attracting and retaining customers, even if the overall prices are lower.