Lululemon's Strategy: Athletic Apparel Industry
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• Marketing Strategy: Lululemon applies the grassroots marketing, which is different from most competitors. The company targets a small group they identify as influential. Then it depends on them to utilize their impacts to spread the company's message out. Since the targeting customers are just a small group, this marketing method often costs less than broader one. Grassroots marketing costs less and free campaigns.
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After implementing more such strategy and increasing their customer base they can approach companies for funding for an aggressive marketing to compete with big giants like
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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.
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As in 2014, Lululemon’s business strategy had seven key elements: Firstly, Lululemon needs to broaden the product line beyond yoga, running and general fitness, and offer product for both male and female of many ages. Nowadays, more people start to concern on their health, not only elder people. They need to have good-looking and convenient outfit for exercise and training. Second element is to grow the store in North America and United State. These locations are very potential for any company because netizen in these locations have high income which can afford to such products like Lululemon.
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Lululemon is recognized as one of Canada’s fastest growing brands. As of 2016, there are 48 stores located across Canada and a total of 354 stores worldwide (Statista, 2016). Their vision was to create a place where people could buy products while also immersing themselves in a community of likeminded individuals who value health living, mindfulness and living a life of possibility. The goal for Lululemon is to expand their product and community vision into the country of Russia. We wish to build upon the recent growth in yoga services and work to continue to bring the people together in practice.
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Nike, Inc. was founded in 1964 and is headquartered in Beaverton, Oregon. Nike offers products in eight categories: running, basketball, football, men’s training, women’s training, sportswear, action sports, and golf. They also market products designed for kids, and many other recreational sports. As of November 30, 2015, their profit margin is 11.55%, with revenues roughly $31.34 billion. Some of Nike’s key competitors for women’s clothing are Lululemon, Adidas, and Under Armour.
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Company Overview NIKE, Inc. is the leading athletic footwear, apparel and equipment company in the world today and continues to grow globally. NIKE is dedicated to inspire every athlete to reach their potential and continue to commit themselves to innovation, sustainability and design. NIKE strives for innovation that serves the athlete, continue the growth of the company and deliver inspiration to everyone that uses their products. NIKE, Inc. includes five distinct brands which are NIKE Brand, Converse, Inc., Hurley International LLC, Jordan Brand and NIKE Golf. Each of these brands reaches out to different groups of people worldwide and expands NIKE's market.
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As you requested, I have researched and weighed the advantages and disadvantages of the potential merger of our company with Lululemon Athletica for the upcoming fiscal year. For the purpose of providing assurance to our Board of Directors on this business plan, intensive efforts were made to thoroughly understand the current standpoint of both companies, in regards to both financial and corporate cultural bases. If Under Armour acquires Lululemon, they will gain a larger female target audience that Under Armour was once lacking, and therefore be able to gain more market share in the athletic apparel industry as well, fending against competitors like Nike or Adidas. The collaboration between two companies will also provide for cultural synergy
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1. Introduction Under Armour, Inc. (Under Armour) is a leading sports apparel and equipment manufacturing company founded in 1996 by Kevin Plank, a 23-year-old former University of Maryland football player.. He revolutionized the sports apparel industry by creating a superior, moisture-wicking, performance T-shirt, made of synthetic fabrics. Under his leadership, the company grew from a 17,000-dollar business in 1996 to a 4.83-billion-dollar empire. 2.
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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.
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Company Description Nike believes diversity and inclusion drives innovation that lead to a competitive advantage. Nike has a broad base of suppliers that actively and significantly support their business requirements. Nike’s Global Procurement team manages the procurement process, including selecting and contracting with the right suppliers for the right goods and services. They have also begun to reduce Nike 's footprint and lessen their impact.
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d.Target Marketing Ormint will have different marketing strategies for the different segmented groups that they wish to reach. Hospital Clinics and/or Private Clinics Both can be targeted through sending an e-mail or fax (for example, with newsletters). Some newsletters are created as money-making ventures and sold newsletters to customers and prospects is a common marketing strategy, which can have benefits and drawbacks. Public organizations emit newsletters in order to improve or maintain their reputation in the society. Retail Pharmacies and Drug Stores The greater the difference between the selling price and the price they pay for the product, the greater their profit.
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This can be easily searched via Internet *Threat of substitutes: Web internet is a threat to Lululemon as their potential customers can look up the price of other yoga clothing brand and prefer them over Lululemon. In order to combat this threat, price needs to be very competitive and high quality. *Rivalry among existing firms: As stated, Nike and Gap also have athletic clothing similar to Lululemon and these companies are multinational and known around the globe. Even if their prices are little higher compared to Lululemon, people will stay prefer buying from them due to the brand image and reputation they possess in the market.
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They are now focusing on their expansion United States of America. They plan on expanding to other parts of the world as well. Their business strategy so far has been very clear. Some of the points below highlight their business strategy: • Developing products of exceptional quality: -They have modified their business model in such a way that they take care of the entire business process, right from the planning and research till the final sales. This enables them to produce goods of exceptional quality thus enduring consumer satisfaction.
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Internal Analysis When conducting an internal analysis you must know the firm’s resources and capabilities. Nike’s resources are assets from succeeding in their industry. These resources include financial resources, physical resources, human resources and organizational capabilities. Firms Resources & Capabilities: Human Resources-. The company displays a strong workforce of over 30,000+ employees.
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They also persuade the general public buy what they are advertising. Some
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