To truly analyze Lululemon as a company, I’ve decided to individually address each of the 6 Ps of Retailing, which are product, price, location, promotion, people, and presentation, and determine whether or not I think that any of their practices/methods need to be improved. Lululemon Athletica is a company focused on retailing athletic wear and accessories for athletes and others exhibiting a healthy/active lifestyle. Their products consist of activewear, athletic shoes, clothing and accessories dedicated to travel, loungewear, and underwear. Lululemon has expressed its interest in expanding beyond athletic wear and widening its consumer reach. Based on this fact, I’ve determined that Lululemon is doing a good job in terms of their product. …show more content…
Despite the praise about the quality of Lululemon’s product, there are often complaints about their pricing. For example, the products geared towards women dip as low as $10 for a three-pack of hair-ties and go as high as $500 for a parka. The company has increased their prices multiple times, some of which were all within one year. The inconsistency and dramatic range of prices leads me to believe that Lululemon could improve in this area of retailing. They could start by limiting the number of the times they raise prices for a certain amount of time. They could also re-evaluate some of their prices, or determine whether lower/higher priced products are actually worth selling. When it comes to their locations, Lululemon operates the majority of their business online, however, they do have over 600 physical locations available globally. The majority of their locations, though, are in the United States and Canada. With the company being founded and having its current headquarters located in Canada, and being incorporated in the United States, it makes a lot of sense for the company to operate so many physical stores in these two …show more content…
For example, they reach out to influencers and athletes, partner with them, and use these individual platforms to reach out to a diverse pool of consumers. They use platforms such as Instagram, TikTok, and YouTube. Other than social media marketing and partnerships, Lululemon also does their best to build a sense of community in order to gain loyal customers. They do this by doing fitness classes, local events, and other forms of workshops. Their dedication to appealing to consumers in-person, as well as online, leads me to believe that Lululemon is doing good with their methods of promotion. As stated earlier, Lululemon focuses on people who have lives that revolve around fitness and activity, so their customers consist of people who live these types of lifestyles. In addition to these lifestyles, the company also targets people in their late teens to people in their mid-to-late 30s. Although, it should be noted that Lululemon does not advertise an ‘age limit.’ I also stated that Lululemon prioritizes a sense of community, and this reflects in their hiring practices. For example, they make it a point to hire diverse
Currently, Lululemon has 254 stores in North America, Australia, and New Zealand. (“Lululemon Athletica Inc. announces fourth quarter and full year fiscal 2013 results,” 2014). They offer a range of performance apparel and ac...
This nationally recognized mass merchandiser that stood as Kohl’s other leading adversary in the market has everyday low prices that were able to compete with Kohl’s promotional events. Wal-Mart also outdid their competition when it came to number of store locations around the country. The weaknesses of this reputable company come to light when shoppers are looking to buy clothes and are not presented with nearly the selection that the department store can offer. Also, their service is not considered to be as helpful as the department stores that can input more expertise when trying on
lululemon athletica’s target market is niched down to people who can afford expensive workout gear but also targets the “yoga mom” and “college girl” stereotype. lululemon athletica tends to have that “yoga mom” look to it because of the style of their clothing and the women who tend to shop at lululemon athletica since it’s a higher end brand of workout gear. At the same time, they target the “college girl” because many girls in college like to stay up with the latest trends and like being able to dress comfortable to class. Men who like working out, meditating by doing yoga, or like lounging in comfortable clothing are also a part of their target market. lululemon athletica also does not have many items with crazy colors and sayings written on their apparel, which would most likely appeal to tweens and teens, because those are not the people they are trying
Lululemon was founded in Vancouver, Canada in 1998; as of October 2015 they have 354 stores worldwide, making them on of the biggest retailors to solely focus on athletic wear clothing. Their most popular product are their leggings. Created for health conscious yogis, Lululemon prides themselves in creating high-quality products for men and women who live a health focused lifestyle. Lululemon is famous for giving environmentally friendly red and white reusable bags after a purchase and providing the highest quality for their clientele. They also practice social responsibility when they screen their vendors to make sure they have the same environmental and social standards as them ().By examining the main social forces, consumer behavior, and
Problem: Lululemon Athletica wants to convert consumers of rival workout clothing companies to become loyal customers of Lululemon.
To expand brand awareness, brand loyalty, and the appeal of its products the company implements a grassroots community-based marketing strategy. The company selects ambassadors that are local fitness professionals to proliferate word-of-mouth marketing among their students (Thompson, 2014, p.C86). Lululemon additionally engages social media, sponsors local athletic, fitness, and philanthropic events, and positions a community events bulletin board and chalkboards in its stores. The bulletin board displays announcements of future activities, presents fitness education and brochures, and promotes neighboring ambassadors’ yoga studios and fitness centers, while the dressing room chalkboards provide an outlet for customers to rely their comments (Thompson, 2014, p.C86). Lululemon’s yoga ambassadors lead a class every four to six weeks; whereas local professional yoga instructors conduct weekly classes at their local Lululemon location as the retail stores allocate the rearrangement of merchandising displays to provide ample floor space. These retail stores reflect the appearance of a simple, neighborhood boutique as they are situated in street locations, shopping centers, lifestyle centers, and malls as a means of integrating into the community (Thompson, 2014, p.C82). This is enhanced
Lululemon, a premium yoga-focused retail chain, serves two market segments. One segment consists of consumers who are characterized as “trendy urban” and the other segment consists of “wealthy” consumers. The “trendy urban” segment, in summary, is fashion oriented or active women who live in metropolitan areas. The “wealthy” market segment is affluent women who live in either urban or suburban areas. As discussed below, these two market segments are defined by differences in demographics, geography as well as behavioral and psychographic characteristics.
Offering special products is marked under strengths and opportunity; however, long term sustainability must ease the weaknesses and threats posed by competitors and external markets forces. However, they are several other strengths of this company that outweigh the weaknesses but can easily be threatened. Lululemon has a great brand equity and knowledge in the market which has helped them development a customer loyalty. While Lululemon’s strengths is challenging, limiting their products to a special market, with higher than normal prices opens the markets for competitors. Lululemon has several weaknesses, they only offer a specialty product and it mostly aimed to attract woman. The company’s profitability has decreased over the recent years, showing the necessity for Lululemon to sustain its economic growth through product diversification and geographical expansion. Many of their competitors have grown, mostly likely due to their global growth and divarication. If Lululemon would expand their market growth this would open up so much more opportunity for this company to grow. One of their weaknesses is there is the dependence on suppliers. This opens a great opportunity for Lululemon, right now they are heavily relying on suppliers around the world and they do not have their own manufacturing facilities. This is causing the company to spend more money of vendors to
In 2007, Lululemon became a public company and since then it has expanded aggressively into different markets. Laurent Potdevin, current CEO of Lululemon, said in a statement, “2014 is an investment year with an emphasis on strengthening our foundation, reigniting our product engine, and accelerating sustainable and controlled global expansion”. Positioning strategy Retail Strategy Store’s retail mission and/or vision statement. At its very core, Lululemon’s intent is to “elevate the world from mediocrity to greatness”. On the company’s website, their mission statement is “creating components for people to live longer, healthier, fun lives”.
My company of choice for this report is Macy 's. 'The Magic of Macy 's ', as the company advertises it, has inspired me to shop there, take advantage of their incomparable discounts and great online shopping experience. Macy 's, Inc. is one of the largest department store chains in the United States of America. Macy 's manages stores under the Macy 's and Bloomingdale 's brands. I enjoy shopping at both of the company 's store brands, Macy 's and Bloomingdales. Bloomingdales provides a more personalized experience
Few companies create such controversy as Walmart has done with its approach to maintaining low costs for everyday items. People either love Walmart because of this approach to keeping prices down or hate it due to the effects it has on the economy. There are a lot of arguments surrounding the minimum wage and employee rights at Walmart. There seems to always be a news article about some employee protest about the wages or how they are treated. Walmart is viewed as an enormous firm that does not take care of its employees because of its minimum wage, treatment of its employees, and how it deals with lawsuits.
Place (channels of distribution), refers to the point of sale (POS). The method of which a product is assessable to the consumer is a crucial part in the distribution of goods. Retailers pay top dollar for prime real-estate, one of the most popular saying in business is “location, location, location”. Location is key in the retail market and Victoria’s Secret understands that very well, they offer a number of outlets for consumers to reach their products; they have a number of physical store locations both inside and outside of the mall and centrally located to consumers, including overseas and in a number of countries throughout the world, offer online shopping for the millennial and convenience shopping as well as via catalogue (mail order). There is great utilization in all outlets for distribution of the product line; Victoria’s Secret ensures high engagement of its consumers in all outlets by offering special sales and promotions significant to the specific outlet. By doing this they appeal to each market
LO2: Conducting small-scale research, information gathering and data collection to generate knowledge to support the project P4- Carrying out small-scale research by applying qualitative and quantitative research methods appropriate for meeting project aims and objectives for the chosen scenario. The Primark is to achieve the development of some ideologies in the organization by getting help from the project. These ideologies include patterning, improving the monetary situation, creating jobs for the staffs and also product acknowledgement. On the other if an organization wants to get success in their aims and objectives, they must need to apply qualitative and quantitative research methods appropriately.
Primark Especially in Europe, Primark is a synonym for cheap fashion. If it would be compared to other low cost fashion brands, Primark is in the high level of popularity with the low level of prices. But why can Primark afford such an inexpensive price for their clothes? In the Czech Republic, we don’t have Primark, I have never seen any Primark advertising on TV, magazines, even not in the internet.
While growing up, I realized the benefits a person has when they personally own their own business. You can make your own schedule, personally control your finances, and essentially have complete control of your business Of course upon this realization; I came to the conclusion that I was going to be my own boss. I have always taken pride in how I present myself including how I dress. The limitless nature of fashion and its versatility has always intrigued me. One empowering aspect of clothing that is so fascinating is how it enables people to express themselves. Because of these interests, I have come to the conclusion that I wish to own a fashion boutique. In order to pursuit the path of becoming a fashion boutique owner, it is essential that I obtain a degree in business management, evaluate my own skills that make me ideal for the job, and