Lululemon Marketing Anaylsis Research Paper Example | Topics and Well Written Essays - 1500 words

Lululemon Marketing Anaylsis - Research Paper ExampleThe company boasts of her mogul to incorporate fashion and style in their products, which has ensured her strong brand recognition and graduate(prenominal) number of gross sales. The companys concentration in Canada is much bettor especially brand awareness than in the US despite the fact that it has more stores in US than Canada. sure Market According to Tucker, Lululemon identifies itself with a high quality as well as undivided yoga and sporting apparel strictly meant for female (Web). It operates in numerous stores across marriage America, Australia and New Zealand where it offers womens wear for yoga, dance, running and other sport events. Most of the companys customers are high-income women that are insulated to prices and the downturn of the economy as was evident in 2008 when the sales grew despite economic challenges. It has more stores in U.S compared with Canada that contributed to the $452.9 million revenue and g ross of $ 223. Lululemon intends to make her US brand as better as the Canadian oneness because US has more stores than in Canada. The company is putting a lot of effort boost her brand awareness in the US market (Tucker Web). The establishment has achieverfully returned to the community that gives it support such as hosting free yoga events around town. The company focuses on high quality products, which attracts higher prices for her upper income women objective. Lululemon ensures prestigious and exclusive products that act as fashion before and shows a healthy, well off lifestyle. The expensive high-end physical exertion apparel has seen it standing even amid recession in 2008 ascribable to the current market perception of the brand. Target Market Lululemons target market is 18-34 fit, health conscious and fashion forward, high-income females who are the companys resilient customers. The active young thinking woman who are appearance conscious, physically fit and well educa ted. Lululemon targets mostly the upper and middle class females residing in North America with the niche marketing strategy by pursuing a narrowly defined market segment. The niche market strategy has greatly contributed to the success of the company thus making it remain a primary market target. In the recent past, the company has been striving to gain reach the male workout market for some time (Tucker Web). New male clothing brand with very high quality is another target market that the company looks forward to dominate. The males targeted are educated and physically active and appearance conscious aged between 16 and 45 living in North America. It is also targeting the pre-teen girls who whitethorn not be identified with the more mature females as well as more for more value proposition within all brands of the company. The target customer for Lululemon is very complex, active as well as health and is aimed at carrying out product expansion and matching the lifecycle and social status of those women. Current Marketing Strategy Acording to Ellis, Lululemons goal is to implement brand extension and reposition brand awareness that may result into 10% total emergence as well 5% female growth within the next one year (Web). The strategy also involves holding a challenge in five Canadian cities and general 10% increase until 2025. The company has laid down various marketing strategies that may boost her sales and cover wider market. there are special marketing displays proposed by the management that helps in displaying products in stores for customers to distinguish between the products.