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Jc Penny Industry Analysis

703 words - 3 pages


Executive Summary
Similar to any emerging technology, innovators struggle in persuading typical consumers to adopt their products or services. MyCorp is facing a difficulty in winning any significant share of the television consumer market. Their inaccurate positioning and targeting strategies are the main reasons for this undesired 0.04% market penetration. MyCorp needs to take into account the consumer’s hard-coded habit of watching television and how they used to do in the past decades. The current positioning strategy is effectively targeting the early adopters, but is not as effective with the early majority segment of the market. Since MyCorp has proven to be a ...view middle of the document...

He walks away and we see some action scenes from his Terminator movie, and then we see him playing his favorite show in his PJs later that same night.
According to the Roger’s framework of innovation diffusion, consumers’ adoption is influenced by six factors—relative advantage, compatibility, complexity, trialability, observability and risk. The proposed positioning strategy will be perceived as a complex product with a relative advantage, and neglects the other aspects of the model. MyCorp’s new positioning strategy should focus on compatibility with consumer’s experiences and values. Abstracting the complexity of the technology, and simply building the awareness around the benefits that empower TV watchers in their daily lifestyles. Addressing the six factors will allow MyCorp to cross the chasm between the early adopters and the early majority which is much more significant and the goal of any revolutionary product.
MyCorp needs to shift their focus on indirectly tapping into the mass market. This can be done by customizing the interface and integrating with current TV service providers such as DirectTV. Interoperability is the key factor...

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