By now you’ve probably seen the commercial that embodies the latest JCPenney advertising strategy: ask for forgiveness.

After over a year of ad-campaign-personality-disorder and recent turmoil in upper management, it looks like JCPenney is ready to take a step back in order to correct itself. And, it just might work.

First off, they have identified and acknowledged their biggest problem: they have made changes that they shouldn’t have, because they weren’t listening to their customers. Next, they express regret for their mistake. Finally, a plan of action is discussed to make sure the problem is not repeated. All in all, they’ve got the ingredients of a real, sincere apology. They’ve got customers (and possibly stakeholders) on the hook, but what happens next is what’s truly important.

JCP has done a great job of engaging and responding to people on their Facebook page and their #JCPListens hashtag also has some healthy use and interaction. But is it too little, too late? I sincerely hope not.

If JCPenney can turn themselves around, it would be a case study in the power of marketing. But unfortunately, there is a history of this company serially committing knee jerk ad campaigns with no follow-through. If that continues after such a bold move, so long JCPenney. If they back up this campaign with well-planned, serious action, it will make a wonderful comeback story.

Either way, this is JCPenney’s last chance.