J.C. Penney ad: We’re sorry. Please come back
CNN Money recently posted an article on J.C.Penney’s mea culpa to its customers. The ad appeared on their youtube channel. JCP admited to making mistakes by admitting that they had changed and now they needed customers to come back.
Coming off the firing of their CEO Ron Johnson and a tumbling of their stock prices, JCP is hurting. Will this ad do anything to help them? We’ve discussed in class similar instances from Dominoes and others where they apologized publicly and their humility helped save the company. Obviously JCP thinks the same will happen to them.
But what are they apologizing for? They had a big-shot CEO come in and make drastic changes, and consumers didn’t like most of the changes. Bam! CEO fired. However, JCP was doing poorly before that, they needed some sort of jump start to their business. Why should they apologize for trying to resurrect their business? They found out that somethings didn’t work, now they will (hopefully) change it for the better.
I think instead of an apology and asking for customers to return, JCP needs to take actions that will show customers why they need to return. Its one thing to say that you are sorry, but its another to show that you are sorry and willing to make the necessary changes.