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Thursday
14 June
2012
10.26a
Because it’s not about price, it’s about value
Consumed => “JC Penney vs. The Bargain Hunters” by Susan Berfield on Business Week.
http://www.businessweek.com/articles/2012-05-24/remaking-j-dot-c-dot-penney-without-coupons
Actually, I lied. It’s not about (absolute) value. It’s about the perception of value. It look like—at least at this point, per JC Penney’s experiment—that coupons add context and are a driving force in perception.
I guess more people expect coupons than they do a fair and square deal. Come to think of it, Groupon built a business model on the addiction of a coupon based deal.
