Porter’s five competitive forces are: treats of new entrants, bargaining power of suppliers, bargaining power of buyers, threats of substitute products or services and rivalry among competitors (Ferrell, Gatewood, Ferrell, Taylor, 2010). J C Penney’s CEO Johnson tried the following strategies to improve the retail giant’s sales and market shares. One of his strategies was to lower the amount of brands the store would inventory. This would increase the buying power due to larger amounts of products to purchase and give the retailor a better price point. Next, Johnson was reducing the number of promotions and setting the prices lower to get customers to purchase and not wait for a sale. His other strategy was to reconfigure the store itself by
