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Key elements of lululemon's strategy
Analysis of lululemon
Lululemon case study paper
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More handpicked essays just for you.
Key elements of lululemon's strategy
Analysis of lululemon
Lululemon case study paper
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Target corporation has many different location-related decisions to process in more than one aspect. The company must decide on the location of its retail stores, manufactures, and support help. Often the decision to outsource or participate in offshoring can be tempting to a company. Well the impact of outsourcing and offshoring must be examined to ensure that the decision is in the best interest of the company.
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
Over the years, the company has invested in building a strong brand portfolio, which helps when you want to expand into new product categories. Other strengths include a strong dealer community who not only sell the drugs, but train their sales team on how to inform the customer on the benefits. Lastly, strong free cash flow, good returns on capital expenditure, and a successful track record shows that the company can provide resources for new projects and build new revenue streams. One weakness of the company is poor financial planning. Their financial planning is not done properly or efficiently and the company could use its cash more efficiently than its doing as of right now.
Abstract I Pick any organization you are familiar with and complete a SWOT analysis for it. You may want to create a chart to help organize your ideas. Refer to figure 5.9 in the reading for an example of how to set up a chart. You may also want to review the SWOT Analysis of Flat World Knowledge as an example. Evaluate which is stronger for an organization -- internal or external factors.
Overall, I don’t know how I feel about Lululemon’s product for a high price. I know fitness gurus that praise the company’s products mentioning the high quality of their product. I also know that there are many other comparable quality products out there that is half the price or less. I’m also glad that founder, Chip Wilson, is no longer affiliated with Lululemon. He did not seem like a great CEO at that time, and I’m glad the current CEO took over.
Lululemon can be considered a Shopping Product. Lululemon provides high-quality products so their products life circle is long. Another reason is their products are expensive for some people, so consumers are rarely to buy their products. Store image is very important to the Lululemon because they want to create the brand loyalty. Lululemon is not distributed so widely.
Lululemon fully depended and worked on retail model, as well as management team relied on customer feedback to make changes. Employees would also give instructions how they were supposed to rearrange the product each week. Moreover, employees were instructed to wear athletic outfits.
The company has 655 stores in 18 countries where it sells high-quality fitness and lifestyle gear. Lululemon claims its purpose is to “elevate human potential by helping people feel their best,” and its vision is to “create transformative products and experiences that build meaningful connections, unlocking greater possibility and wellbeing for all” (Lululemon). All this being said, Lululemon’s core values include personal responsibility, connection, inclusion, courage, and having fun. Being able to incorporate all of these values into its marketing strategies is what has made Lululemon so successful.
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.
The company has also gained a strong brand image, because of its uniqueness as a
Page 1 of 7 Alexis NanthanongMrs. PerezBusiness 101March 6, 2018Lululemon AthleticaLululemon Athletica is a Canadian athletic apparel retailer. Founded in 1998 in beautifulVancouver, Canada, lululemon is a technical athletic apparel company for yoga, running,training and most other sweaty pursuits. As a dynamic and growing global brand, the companyinvests in sustainable business and mindful practices to ensure highest ethical and businessstandards, and create value and positive impact for a healthy future and resilient brand. Thecompany makes a variety of types of athletic wear, including performance shirts, shorts, andpants, as well as lifestyle apparel and yoga accessories.
II. A. Company Info Since the beginning in 1993, Kate Spade has been known for their use of colors and patterns, but it all started with a purse. Kate Brosnahan Spade designed a line of 6 purses completely different from the trends she saw on the runway. This was just the beginning for Kate Spade as they now sell everything from jewelry, to clothing, to home decor. In 2007 Spade sold the company to Liz Clairborne with Deborah Lloyd as the President.
Products available globally WEAKNESSES 1. Distribution Density 2. Low revenue compare to Vans PH 3. Difference of 20% of gross profit margin to its direct competitor 4. Lack of Effective Marketing Campaigns 5.
Lululemon needs to maintain their high quality in order to gauge more customers from their existing brand
The company Fast Retailing Co., Ltd was found and established on 1 May 1963 in Japan by Tadashi Yanai. Presently, they have launched several apparel and lifestyle brand of UNIQLO, GU, Theory, Comptoir des Cotonniers, Princesse tam.tam and J Brand. UNIQLO was first, to be introduced by Fast Retailing in 1984. It was a brand created to provide comfortable causal clothing to everyone, women, men, kids and babies. A lifestyle wear that was made for all, for everyday activities.