This piece of video is gold from Fortune Brainstorm Tech.
Its less than 5 minutes but shows the thinking behind the integrated strategy that Ron Johnson is carving out at JC Penny.
For a bit of a background. Ron Johnson worked at Target and was picked by Steve Jobs to lead the retail strategy for Apple. In 10 years he made Apple Stores the most profitable and the highest sales per square foot stores for any retail operation beating even many premium brands.
Ron moves to JC Penny, a discount retailer in the US as the CEO. The first step he takes is to remove all kinds of promotions from the shop, 540 a year and move to a everyday low price strategy. The rest of the stuff he talks on the video connects to that core pricing strategy.