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What is the business strategy of lululemon
External analysis of lululemon
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What is the business strategy of lululemon
External analysis of lululemon
Lululemon’s case studyanswer
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We created a questionnaire for the Mustang Outfitters store, to target the students of the Fine Arts department here at Central Baptist college. The questionnaire was formed to evaluate how satisfied the students of this department are with the store and the products that they sell. The goal is to ensure that mustang Outfitters is reaching their customers in the best way possible. We evaluated this by asking the students about pricing, locations, Mustang Outfitters compared to other stores, and asking if there were enough products for students of the fine arts department. Results from these questionnaires gave us the information we needed to make recommendations and the best strategies to use to reach that goal.
It is very important for the marketers of Lululemon to consider all of these aspects in order to maintain sales of their products to their target market. The first element of the marketing mix is the product, which involves the total product concept. The total product concept has three layers, beginning with the core product layer, which describes the main benefits that the product has for the consumer (Kerin et al., 2015). Lululemon has a wide variety of
A. History about Ulta Beauty • Ulta Beauty is one of the largest cosmetic, fragrance, hair and skin care products companies in the United States. Since 25 years ago when Ulta has expanded so much and has become one of the most important companies in the United States. Ulta beauty is where you find all things beauty. You can find makeup, fragrances, skin care products, hair products and tools. Ulta offers more than 20,000 products from more than 500 different brands from different categories and prices points.
In addition, I hope to see Lululemon regaining their reputation and succeed in the
The sporting goods industry has a long history from the mid- 1800s until the early 1980s. Since then public ownership led to the expansion of footwear and apparel products in an exploding marketplace. This allowed the top 20 firms to have sales of at least $1 billion. (Lipsey, 2006) After 1980s, sports equipment manufacturing is estimated above a $70 billion industry and is continuously growing worldwide (statista.com, 2014). The production of sports equipment is one of the biggest and most profitable industries nowadays and it gathers all the attention of big brands with powerful marketing techniques which compete in global scale.
Also, feeding into the organic mouth marketing. They use fit models to test and give them a feedback. Lululemon had a manifesto which was created by Mr. Chip Wilson and his father.
Government policies supporting active and healthy lifestyle can have effect on Lululemon. With growing market, there will be opportunity to grow. Canadian government introducing Workplace Fitness Program Policy, and many other countries that Lululemon operate have also such policies. It is opportunity for Lululemon.
This is why it is so crucial for Lululemon to create and build relationships with customers in order to make them customers for life. There is a large variety of sports apparel brands making the buying power of consumers high. With a variety of sports apparel brands the difference between their products might not be that different after all. This makes it very important for Columbia has to create brand loyalty within their customers. Sportswear is usually used in extreme or rugged conditions so buyers become very concerned with the quality of the product in which they are purchasing.
Under Armour faces a twofold challenge, in the product and market area. Their heritage product category was compression Heat-Gear, and Nike the major competitor, was planning to take control of the new customers generations by creating a whole new line called Nike’s Pro Combat. Besides that, the marketing side was also having struggles. Since Nike created a strategy in which a strong emotional connection with customers was developed. This would have as repercussion the displacement of the Under Armour brand and therefore the slow decline of the company.
Products and Services 2.1 Products Under Armour specializes in products for all age groups and has product lines for men, women, and children. Under Armour’s products can be divided into three product categories: Apparel Footwear Accessories 2.1.1 Apparel Under Armour’s apparel is offered in
2.0 Competitor Analysis The industry that Under Armour is involved with is extremely competitive, with competing against big names such as Nike or Adidas. Although it’s hard at the beginning, but customers want to have the highest quality apparel therefore they turn to Under Armour. Under Armour stays in the competition by having high quality products, and also by signing endorsements deals with major athletes (Owusu, 2017). By having major athletes represent Under Armour, means the company will be bringing in "big money" because they will bring up the brand’s popularity. The major competitors in this industry are of course inclusive of big names such as Adidas, Nike, Dick’s Sporting Goods and Puma.
It has strong brand recognition among athletes. That being said, Under Armour has to seriously consider expanding internationally to cover more markets. It should also work on products diversification and innovative designs. The following sections of this report will support the recommendations presented because they were based on the results of implementing external and internal
Lululemon needs to maintain their high quality in order to gauge more customers from their existing brand
This critique is a reflection of Strategic Industry Analysis of clothing Industry in United Kingdom, Italy and France. To achieve such aims, data were collected, reviewed and analyzed within the industry. By so doing, primary tools were exploited to give an in-depth information, these include: Orbis database, companies' web pages as well as academic and non-academic literatures. Due to limited information from countries' perspective (language barriers), this paper will analyze the European union clothing industry as a whole, in term of the development, the competitiveness and the disparity between top and bottom players in regards to financial performance.
Under Armour: Working to Stay on Top of Its Game Lulu M. Mero Webster University Abstract This paper explores the case study found in the Strategic Management: Competitiveness & Globalization (10th ed) under the authors of the book, Michael A. Hitt, R. Duane Ireland, and Robert E. Hoskisson. The title of the case is “Under Armour: Working to stay on Top of Its Game” which analyzes fully the portfolio of the company. Under Armour is an apparel firm that faces some competition and it constantly has to revise its business strategy to stay on top of the market. This case study discloses the company’s history, growth, product and sales profile, major competitors, management, marketing, business strategy, and strategic challenges.