Lululemon's Great Strategy for the Running Shoes Market
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It's no secret that Lululemon is a powerhouse in the world of yoga. It is known for its high-quality yoga pants. However, the company has recently decided to enter the running shoes market. So, what is Lululemon's marketing strategy for this new venture? In this blog post, we will take a look at some of the strategies that Lululemon is using to promote its new running shoes. We will also discuss how these strategies could be improved.
They Have Purposefully Kept a Limited Stock in Retail Outlets
One of Lululemon's marketing strategies is to keep limited stock in retail outlets. The thinking behind this strategy is that it will create a sense of exclusivity and scarcity. This, in turn, will make people more likely to buy the shoes. While this marketing strategy can work great in the short term, it wouldn’t be that effective in the long term. If people can't find the shoes they want, they may get frustrated and stop buying Lululemon products altogether.
They Have Used Influencers to Promote the Shoes
Lululemon has also used influencers to promote its new running shoes. This is a smart move because influencers have a large following and can reach a lot of people. However, Lululemon has been criticized for only using thin and fit influencers. This could alienate some potential customers who don't feel represented by the influencers.
High Prices Are Perceived As High Value
Lululemon's running shoes are priced significantly higher than other running shoes on the market. While some people may be turned off by the high prices, others will perceive the shoes as being of high value. This is because Lululemon has built up a reputation for quality products. This is why you won't find any deals on Lululemon's shoes because they feel it is damaging for the product to knock down its price.
They Have a Very Strong Social Media Presence
Lululemon has a very strong social media presence. It regularly posts about its products and promotes its sales. This is a great way to reach potential customers. However, Lululemon's social media posts can be very cryptic. They often don't explain what the product is or how it works. This can be frustrating for potential customers who want to learn more about the product.
They Follow the Apple Model and Update Their Products Regularly
Lululemon follows the Apple model and updates its products regularly. This keeps customers coming back for more. However, it can also be frustrating for customers who just want a pair of shoes that will last them a long time. This is also the reason that they can consistently sell their products at a higher price.
They Are Selling Online and In Physical Stores
Lululemon is selling its new running shoes online and in physical stores. This gives potential customers the opportunity to try on the shoes before they buy them. However, it also makes it easy for people to price compare. This could lead to people buying from other retailers who are selling at a lower price.
They Aim To Take the Market Away From Athletic Footwear Brand
One of Lululemon's goals is to take the market away from athletic footwear brands. This is a tall order, but it is possible. In order to do this, Lululemon needs to continue to produce high-quality products. It also needs to offer something that other brands don't. For example, Lululemon could focus on selling eco-friendly running shoes. This would set it apart from other brands and attract customers who are looking for environmentally friendly products.
They Are Using a Very Smart Marketing Strategy
Overall, Lululemon's marketing strategy for its new running shoes is solid. However, there are some areas that could be improved. Lululemon's marketing strategy is aggressive but also smart. By using a combination of strategies, Lululemon is able to reach a wide range of potential customers. So far, the strategy seems to be working. Lululemon's running shoes are selling well, and the company is seeing a lot of growth. However, only time will tell if this strategy is sustainable in the long term.
They Want To Create a Strong Brand Image
Lululemon wants to create a strong brand image. This is why it is important for them to use high-quality materials and design their products well. Lululemon also wants to be known for its customer service. This is why it offers free returns and exchanges. Lululemon wants customers to be happy with their purchases and to have a positive experience with the brand.
It Is Important For Them to Maintain Their Quality Standards
Lululemon knows that it is important to maintain its quality standards. This is why they have a team of designers and engineers who work hard to create products that meet their high standards. Lululemon also has a strict quality control process. This ensures that all of their products are up to par.
Focused On Making a Community
Lululemon is also focused on making a community. This is why they offer free yoga classes and other events. They want to create an environment where people can come together and feel good about themselves. Lululemon knows that if it can create a strong community, then its customers will be more likely to buy from them again in the future.
They Are Focused on Differentiating Themselves from Other Brands like Nike
Lululemon is focused on differentiating itself from other brands like Nike. This will set them apart from other brands and attract customers who are looking for comfortable products. Another way Lululemon differentiates itself is by its online presence and social media posts. It is important for Lululemon to continue to produce high-quality products and offer something that other brands don't. Otherwise, they will not be able to take the market away from Nike.