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Business Model Design and Learning by Barbara Spencer

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What About the Customers?

The value exchange agreement between the new J.C. Penney’s and its old customers as shown in Figure 8.2.

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Figure 8.2. J.C. Penney’s value exchange agreement out of whack.

Johnson’s vision, shown on the left, fits with his past experience at Apple and Target, and his knowledge of younger, style-conscious consumers. Apple set out to change the world, and it did, so why shouldn’t J.C. Penney change the way people shop? If Johnson’s changes are successful, the J.C. Penney stores will be transformed into lifestyle stores that will appeal to a younger customer who lives in a different world than the traditional J.C. Penney ...

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