Brand Research: J.C. Penney gets a Brand Lift for 2012

Forbes just named J.C. Penney to be the most interesting retailer of 2012. Why?  Well, J.C. Penney is re-vamping everything from their logo (pictured on the left), pricing strategy, to their top management. Looks like J.C. Penney invested in some brand research to revitalize their brand after sales kept falling from 2006 to 2011.
One of the main changes that will be implemented is a new pricing strategy-a 3 tiered pricing structure: regular prices, month-long specials prices, and clearance prices. “By setting our store monthly and maintaining our best prices for an entire month, we feel confident that customers will love shopping when it is convenient for them, rather than when it is expedient for us," says J.C. Penney's new CEO Ron Johnson (launched Apple retail stores). It's a bold move for any retailer to make, especially when coupons, and special sales and promotions are the norm for department stores. 
Their logo changed as well, and it's meant to remind shoppers of the American flag-my gut reaction is...not a fan. Hopefully J.C. Penney should do a little more testing on this because the online community reaction is pretty much negative.
As with any change, however small or extreme time can only tell if J.C. Penny will survive it's brand lift. These changes take effect today, but the whole transformation is expected to be completed in 2015. We'll just have to wait and see if this daring move is what J.C. Penny needs to gain success or fail.
Next time you're out shopping stop by your nearest J.C. Penney let us know what you think!

What do you think of their new logo and brand strategy? Hit or Miss?