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The Section store J.C. Penney learned a harsh lesson before this yr after they eradicated revenue and promotions entirely, rather opting for an "each day very low price ranges" philosophy. The campaign, “Honest and Square Pricing,” was built about the mistaken premise that clients want reduced selling prices every single day in place of becoming enticed by revenue or needed to provide Discount coupons for discounts. A twenty % fall in initially quarter income produced it abundantly distinct that they ended up Completely wrong.
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