Marketing Plan

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Tulane University *

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Marketing

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Feb 20, 2024

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docx

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Lululemon Men’s Performance Campaign Allison Medina, Loreli Cabrera, Jose Daniel Hernandez
Table of Contents Who We Are A.Company Intro……………………………………………… 3 Where We Are Going A.Competitive Landscape…………………………………….. 4 B.SWOT Analysis……………………………………………. 5 C.Objectives/KPIs…………………………………………….. 9 How We Will Get There A.Marketing Mix 1……..…………………………………… 11 B.Marketing Mix 2………………………………………….. 12 C.Execution Timeline……………………………………….. 14 D.Budget…………………………………………………….. 15 E. Metrics……………………………………………………. 17
Who We Are Lululemon Athletica ( https://info.lululemon.com/about ), commonly known as Lululemon, is a leading athletic apparel company that specializes in yoga and workout clothing, as well as accessories. Founded in 1998 by Chip Wilson, Lululemon has grown to emphasize on promoting an active and healthy lifestyle. Lululemon’s mission statement is “to elevate the world from mediocrity to greatness” and their vision statement is “to be the experiment brand that ignites a community of people living the sweat life through sweat, grow and connect”. The Lululemon brand focuses on health, wellness, and movement rather than just sports fashion. The company operates through a combination of physical stores and e-commerce platforms, b2c. Lululemon currently has an extensive product line-up but this was not always the case. Originally, their product line-up was solely focused on yoga wear. This included yoga pants, yoga leggings, yoga tops, yoga mats, and yoga accessories. Today Lululemon offers activewear and accessories for a variety of different sports aside from Yoga such as dance, golf, running, strength training, tennis, and hiking. Lululemon also began releasing products meant for casual daily wear such as cardigans, shirts, and dress pants. While Lululemon has been able to expand their product line-up, there is still a significant difference between the options available for men and women. The women’s lines have wider product selections with a larger variety of color and pattern options. People describe Lululemon as an innovative lifestyle premium brand. Despite Lululemon’s high prices compared to their competitors, they have established a large loyal customer base that makes up the majority of the athletic wear market. Every Thursday Lululemon either restocks their current products or releases new products in order to meet
constant demand for these items. Due to their constant product innovation they have been able to acquire their loyal customer base despite their high prices. One reason Lululemon is popular is because they have a variety of product options that can fit anyone’s lifestyle. This brand and product angle allows them to own different types of consumers within the athletic wear market. Where Are We Going Competitive Landscape The athletic wear industry is heavily saturated. Although there is a wide variety of market players, the industry is known for its ability to innovate in response to rapid changes in trends. One example is the athleisure trend. The athleisure trend involves wearing athletic-style clothing as day wear. In response to this trend, athletic apparel market players were releasing casual athleisure lines that focus on functional comfort that is seen in traditional sports wear. Many athletic apparel brands are currently focusing on sustainability by using eco-friendly materials, reducing waste, and adopting more ethical manufacturing practices in response to consumers trying to make eco-conscious decisions. Athleisure technology, which LuluLemon is known for producing, is beginning to play a significant role in the athletic apparel industry. LuluLemon is known for the development of their Luon and Nulu fabrics, of which each have their own properties that contribute to the functionality and comfort of LuluLemon products. Aside from consistently introducing new technology, recently athletic wear brands began to cater to a wider range of body types. One brand known for this is Fabletics, they used their inclusive brand angle to enter the saturated athletic wear market and stand apart from their biggest competitor, Lululemon. Brands now offer
more inclusive size ranges and there is also a focus on including different types of models and athletes in their campaigns. In order to stand out in a saturated market LuluLemon needs to do more than innovate because ideas and products are constantly copied. Innovation helps them stay ahead but branding is what helps a company stand out. LuluLemon branding revolves around empowering individuals to lead active and balanced lifestyles. Their brand consistently communicates its core values of quality, innovation, and functionality through their high-performance activewear, accessories, and community engagement programs. Swot Analysis
Key Strengths Strong brand recognition: Lululemon has heavily invested in marketing and brand awareness through partnerships and ambassador programs that have given the products and brand a high level of visibility. Customer Loyalty: Lululemon has fostered loyalty through several strategies including investing in engaging community experiences and sustainable and ethical practices which are valued by the customers. Retail Store Customer Experience : The in-store retail experience at Lululemon is known for its unique and inviting atmosphere where staff, called LuluLemon Educators, are helpful and knowledgeable. Weaknesses: Limited product range: While renowned for the yoga and athletic wear, the product range is narrow when compared to other competitors who offer greater variety with accessories, outerwear and much more. Limited Product Accessibility: While the price point has been widely accepted due to premium quality products, this does limit the product accessibility to more financially conservative demographics. Supply chain risks: Lululemon sorts their materials primarily from Asian suppliers which exposes them to unforeseen complications such as delivery delays and geopolitical tensions.
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