Lululemon Target Market

Market Analysis Summary

The global sports and fitness clothing market is expected to soon reach over $125 billion dollars (PR Newswire, 2015, June 26) and individuals across the U.S. are becoming more active (Institute for Health Metric and Evaluation, 2013, Jul 10). The breadth of the overall market covers many subsets of products and consumer groups. Target segment. There are two primary segments in the market; sports apparel and fitness clothing. Sports apparel often focuses on performance wear and true sports: basketball, baseball, or soccer. Fitness clothing tends to be more closely tied to gyms, fitness activity groups, and non-sport fitness. Also fitness clothing tends to have more need for fashion consciousness. The target segment

The most recognized brands amongst US males in the sports and fitness clothing market are Nike, Adidas, Reebok, and Puma (Statista, 2014). However, there is a large amount of opportunity to gain market share as only Nike hold a high percentage favoritism from male shoppers (Statista, 2012). Multiple brands have a stronger focus on women’s clothing such as: Fabletics, Athleta, and Lululemon. Lululemon has a similar business model however the brand has a stronger connection with women and yoga.

Barriers to entry. Primary barriers to entry for the Mr. Fit Life brand that must be considered are:

• Capital: In order to start business off correctly there will need to be sufficient capital to purchase product, hire employees, obtain a retail space, and funding advertising.

• Switching barriers: Individual that are already brand loyal or have already sunk funds into other fitness apparel may be difficult to capture. Establishing a money-back guarantee and otherwise building value will be key.

• Distributor agreements: Finding and securing agreements with exceptional manufacturers and distributors will be an absolute need for success. A unique product will support the brand message.

Products, Services, and

Once driven by employee need, Zoho People will be utilized to manage the hiring process, employee benefits, vacation or leave tracking, and other human resource management actions.

Marketing Strategy The current goal of the Mr. Fit Life marketing strategy is to generate awareness of our premium men’s fitness apparel brand. Additionally, the marketing strategy should create a brand image of salesperson expertise and ease of shopping as a study by Bae & Miller (2009) show male shoppers prefer these factors in their purchase process.

Pricing. Mr. Fit Life pricing will need to set as a premium pricing strategy that does not employ discounting. Exceptions to this model would be on clearance items or related to an instituted rewards program. However, any discounts will need to be smaller (10%) to reinforce the value of the product and service.

Promotion. Initially, the promotional strategy will consist of a social media outreach campaign, partnerships with local businesses, and content marketing. Each strategy will be partially intertwined. We publish content regarding fitness and distribute them via the website and social media platforms:

1. http://www.mrfitlife.com/

2.