Marketing Strategy of Lululemon analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Lululemon marketing mix, help the brand succeed in the market. Let us start the Lululemon Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Lululemon marketing strategy can be explained as follows:
Lululemon has a wide range of products under its spectrum of offerings. Some of the main products offered are:
- Sports Apparel: Lululemon offers sports apparel such as t-shirts, shorts, jackets, yoga pants, leg wear etc.
The brand has also patented an original fabric which is used for manufacturing of clothing & apparel.
- Fashion wear: Lululemon has also diversified in street fashion wear to compete with brands like Nike, Adidas etc.
- Accessories: Goods like water sippers, gym bags, mats etc are offered.
- Personal care: The brand also offers products like shampoos, deodorants etc.
Lululemon Price/Pricing Strategy:
Below is the pricing strategy in Lululemon marketing strategy:
Lululemon offers a high quality niche product and caters to the needs of sports persons, yoga enthusiasts and fitness focused people. Keeping in mind the requirements of athletes, Lululemon offers a fabric for comfort, anti-sweat and durability.
Keeping all these things in mind, the brand is a slightly premium product, and offers a value based pricing strategy. Most of its products range between $50 to $200. Even though it is priced higher than competitors, owing to its high product quality it has a loyal base of customers.
Following is the distribution strategy in the Lululemon marketing mix:
Lululemon brand has a strong global presence. The brand has its footprint in more than 25 countries across the world. All its products are available through more than 500 outlets across different geographies. Apart from physical stores Lululemon has a strong online presence. Users can buy all Lululemon goods from their website which can then be delivered at their home.
Apart from their own website, Lululemon products are widely available at multi-brand retail ecommerce platforms like Amazon worldwide.
Lululemon Promotion & Advertising Strategy:
The promotional and advertising strategy in the Lululemon marketing strategy is as follows:
Lululemon relies heavily on social media channels for promotion. The brand connects with audiences online and promotes its products by offering various discounts, offers etc. Facebook, Twitter and Instagram are used effectively by the brand to ensure people are attracted to buy their products. The brand also promotes itself via print ads and video ads. A holistic marketing approach has ensured that the brand has created its own space in the customers mind despite so much competition in the segment.
Lululemon Athletica, most preferably known as lululemon, is one the leading sports apparel brand and retail chain based out of USA. Globally the company has more than 500 stores and employs more than 30,000 people. The annual revenue of the company is more than $8 billion.
The company started in 1998 and is headquartered in Canada. The brand has a strong presence in the market and competes with Nike, Adidas, Under Armour etc.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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