One of the biggest marketing mistakes ever made was that of retailer JCPenney in 2013. JCPenney CEO Ron Johnson at the time tried introducing his ambitious new strategy which led to a big loss for the company. This three-tier strategy involved everyday, monthly value, and best price, rather than the previous strategy where sales and coupons were continually happening on an ongoing basis. Customers were sure quick to turn this strategy down as the company’s sales plummeted. Clearance and sales are ultimately what customers want as saving money is rewarding and the customer is wanting the best deals. In addition to the main issue of customers not liking the new strategy Johnson implemented, they were not properly informed of the change; therefore,
