The Global Fitness And Athletic Clothing Stores - 1637 Words

I. SITUATION ANALYSIS The global fitness and athletic clothing stores industry generates more than 1.9 billion US dollars per annum (IBISWorld, 2015). Lululemon Athletica provides high quality apparel for the ever-growing global health conscious population (WHO | World Health Statistics 2015, 2016). A SWOT analysis (Appendix 1) illustrates potential and weakness of this hugely successful brand. Furthermore, environmental factors can play a role in the company s operations. Macro Environmental Factors – Demographics forces make up the market segments therefore it is an important factor to any business. Including, age, gender, ethnicity, location, lifestyle and other statistics (Grewal, Levy, Mathews, Harrigan, Bucic, n.d.). The†¦show more content†¦In order for a company to gain a superior position in the market, the company needs to analyse their competitors’ products, prices and strategies and offer better benefits or products to the consumers. II. MARKETING GOAL Increase overall brand awareness and also increase market share by 2% in the next 12 months. III. MARKETING STRATEGY Target Market Lululemon continues to pursue a strategy of focused differentiation, concentrating on a consumer segment concerned with health and fitness (lululemon athletica, n.d.). An in-depth research portrays Lululemon s main focuses of marketing campaigns for women; however, they do carry products for men as well. Lululemon describes its target customer [as] a sophisticated and educated, middle-aged woman who understands the importance of an active, healthy lifestyle. (Lululemon Athletica, Inc. - Annual Report, 2016). Also, Lululemon portray their product image as: independence and confidence, targeting women who are willing to spend on exercise apparel (Lululemon Athletica, Inc. - Annual Report, 2016). They benefit from the growing number of people that participate in yoga, their primary target. Although, Lululemon intends to increase the percentage of products sold to different demographics for different needs, believing this will continue to increase their market share as product range broa dens (lululemon athletica, n.d.). For Lululemon to optimise their opportunities, a further look at