Sears, JC Penny and Wal Mart tried hard in recent years to upgrade their images and appeal to higher class consumers. How successful have these efforts been? Do you believe this strategy is wise? Have other retailers tried to downgrade their images and appeal to lower class consumers? If so, provide examples and explain.© BrainMass Inc. brainmass.com June 4, 2020, 3:31 am ad1c9bdddf
The problem that stores like WalMart, Penny's and Sears have run into is that their merchandise is lower priced. Let's take WalMart, specifically. WalMart is known for bottom of the barrel prices. Their prices are the lowest and will remain so. Their pricing strategy is how they have been able to attract and retain the large customer base that they have, over the years. Everything's cheaper at WalMart - this is how they're most widely known. WalMart is upgrading their images in hopes of attracting ...
This solution explains if retailers have been successful in their strategies to appeal to a higher class of customers.