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Marketing Plan

Lululemon's marketing plan focuses on leveraging its strong brand reputation in the competitive athletic apparel industry, aiming to increase online sales by 20% and expand market share by 15% in international markets. The plan includes launching new product lines, particularly performance running shoes, and enhancing brand awareness through targeted marketing campaigns. Financially, Lululemon projects a 15% revenue growth and aims for a sustainable profit margin of 20% while expanding distribution channels and retail presence.

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5 views3 pages

Marketing Plan

Lululemon's marketing plan focuses on leveraging its strong brand reputation in the competitive athletic apparel industry, aiming to increase online sales by 20% and expand market share by 15% in international markets. The plan includes launching new product lines, particularly performance running shoes, and enhancing brand awareness through targeted marketing campaigns. Financially, Lululemon projects a 15% revenue growth and aims for a sustainable profit margin of 20% while expanding distribution channels and retail presence.

Uploaded by

kyleybeatty.ail
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Marketing Plan for Lululemon

1. Environmental Scan (Industry Analysis)


Lululemon operates in the athletic apparel industry, which has seen
significant growth in recent years due to increased health consciousness and
athleisure trends. The market is competitive with key players like Nike,
Adidas, and Under Armour. However, Lululemon has carved out a niche by
focusing on high-quality, premium yoga and workout apparel. Opportunities
lie in expanding product lines, targeting new demographics, and leveraging
e-commerce channels. Threats include increasing competition, economic
downturns affecting consumer spending, and potential supply chain
disruptions.

2. Mission Statement
Lululemon's mission is to elevate the world from mediocrity to greatness by
providing innovative athletic apparel that inspires people to live their best
lives, both physically and mentally.

3. Goals
- Increase online sales by 20% within the next fiscal year.
- Expand market share in key international markets by 15% over the next
two years.
- Enhance brand loyalty through targeted marketing campaigns, leading to a
10% increase in customer retention rates within one year.

4. Situational Analysis (SWOT)


Strengths:
- Strong brand reputation for high-quality products.
- Dedicated customer base with a passion for health and wellness.
- Innovation in product design and technology.
Weaknesses:
- Reliance on a limited product range focused on yoga and workout apparel.
- Higher price points compared to competitors.
- Limited presence in certain international markets.
Opportunities:
- Expansion into new product categories such as footwear and accessories.
- Targeting untapped demographics such as men and older adults.
- Growing demand for sustainable and eco-friendly products.
Threats:
- Intense competition from established athletic apparel brands.
- Economic downturn impacting consumer discretionary spending.
- Supply chain disruptions due to global events like pandemics or natural
disasters.

5. Marketing and Product Objectives


Target Market: Active individuals aged 25-45, primarily urban dwellers with
disposable income, who prioritize health and wellness.
Segmentation Strategies:
- Psychographic: Focus on individuals who value fitness, mindfulness, and
premium quality.
- Behavioral: Target frequent exercisers who are willing to invest in high-
performance apparel for their workouts.
Marketing Objectives:
- Increase brand awareness among target market by 30% within one year.
- Launch new product lines catering to specific fitness activities such as
running and CrossFit.
- Establish Lululemon as a lifestyle brand beyond just athletic apparel.

6. Marketing Plan
Product: Introduce a new line of performance running shoes with innovative
features designed for maximum comfort and support.
Pricing: Implement a tiered pricing strategy offering both premium and mid-
range options to appeal to a wider range of consumers.
Promotion: Launch a multimedia marketing campaign featuring influential
athletes and fitness enthusiasts showcasing the versatility and performance
of Lululemon products. Utilize social media platforms, influencer
partnerships, and targeted digital advertising.
Placement: Expand distribution channels by partnering with select retailers
and increasing the number of Lululemon stores in key urban centers.

7. Financial Planning
Projected Revenue: Based on historical sales data and market trends,
forecasted revenue growth of 15% for the upcoming fiscal year.
Budget Allocation: Allocate resources towards product development,
marketing campaigns, and expansion initiatives, ensuring a balanced
approach to investment.
Profit Margin: Aim for a sustainable profit margin of 20% to support ongoing
business operations and future growth initiatives.

8. Implementation Plan
Media Schedule: Launch multimedia marketing campaign in conjunction with
the release of new product lines. Schedule advertising placements across
digital platforms, print publications, and outdoor billboards to maximize
reach and engagement.
Launch Dates: Roll out new product lines in phases, starting with the
performance running shoes in the first quarter, followed by additional
product releases throughout the year.
Launch Areas: Prioritize key urban markets with high concentrations of target
consumers, focusing on flagship stores and strategic retail partners for
product placement and promotion.
By adhering to this comprehensive marketing plan, Lululemon will be well-
positioned to capitalize on market opportunities, overcome challenges, and
achieve sustainable growth in the dynamic athletic apparel industry.

References:

Lululemon. (2022). Annual Reports. Corporate.lululemon.com.


https://corporate.lululemon.com/investors/financial-information/annual-
reports
Vest, K. (2024, February 14). Exploring the Athletic Apparel Market Size, Share,
Growth, Trends, Innovations, and Consumer Insights. Www.linkedin.com.
https://www.linkedin.com/pulse/exploring-athletic-apparel-market-size-
share-growth-trends-kala-vest-fi1tc/
‌Lululemon Athletica Inc in Apparel and Footwear. (n.d.). Euromonitor.
https://www.euromonitor.com/lululemon-athletica-inc-in-apparel-and-
footwear/report
Lululemon. (2024). Our Unique Proposition. Corporate.lululemon.com.
https://corporate.lululemon.com/investors/our-unique-proposition

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