About lululemon - Research Paper Example

Lululemon marketing mix affiliation Lululemon marketing mix Introduction Lululemon has turned out to be the best company that deals with yoga pants as well as casual wear for men, women and youth. Even though lulu lemon has been benefiting from the ever growing population of the society that is participating in Yoga, they also believe that huge percentage of the products sold for other activities other than Yoga, will increase as the company tries to widen its range of products in addressing other sporting activities.

Founded in the year 1998, the founder had some marketing and snowboarding experience and thus began to perform experiments on yoga pants. His early promotional approach was to offer yoga instructors free yoga pants just to get their feedback on the flexibility of the pant.LululemonOne of the main objectives in Lululemon is the creation of a fun atmosphere and a healthy living at the same time aiming at designing end products that offer high performance, comfort and fit. The company has a market-oriented focus that helps it to offer products that are of high performance, generates customers trust and commitment from the company in supporting the customer.

Marketing mixPricingLululemon price of yoga pants averagely goes for ninety-two dollars. Lululemon is a company that runs with profits. The company worked hard to maintain its level in the market, and its prices earn many profits. According to its website, Lululemon is striving its best to serve its shareholders to the best. An average of seventy percent of the company’s total revenue in business is estimated to come from yoga were selling. What the company aims at is selling and pricing tits products in a way that it earns a profit in the end.

In addition, the company makes use of a mixture of value and prestige in pricing strategies in determining the cost of its products. The strategy used for pricing on the company products includes the strategy of value added pricing and prestige pricing. In value added pricing, the company spends a lot in trying to create additional values in its products through promotion. Prestige pricing happens through adding extra features for its customers on their apparel instead of trying to reduce the total cost of by reducing the features used and the material quality used in producing the yoga pants products.

The use of unique features in manufacturing the yoga wears made by Lululemon, such as the use of natural substance clothing in production of yoga pants, helps in justifying the high prices of the Lululemon’s pants in the market. On the other hand, the company also employs the use of prestige in pricing its products. Lululemon uses prestige pricing as an additional means of putting high price on their products. The company produces products whose qualities are high, fashionable and unique. These clothing’s are a symbol of success and lifestyle that is healthy that the company boasts on.

Lululemon products are not replicated by any other company that participates in the same market hence the company takes advantage of this I pricing its products (Lululemon, 2014).ConclusionThe Company is young. Despite this, it has pushed itself the limit and reached maturity by offering great innovation, products that are well made and using exclusivity. The strategies the company has been using has helped in marketing the yoga wear to the point where it has become “necessary” have pant.

The company is focusing on working hard to introducing other innovative products as part of their sells.ReferenceLululemon. (2014). Lululemon Athletica: our company history. Retrieved from Lululemon: http://www.lululemon.com/about/history