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About lululemon - Research Paper Example

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The products and services are offered at various prices for instance: Recently the company unveiled new men’s yoga pants that cost $88…
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Research paper about lululemon
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Lulu lemon Athletica Prices that the Company Offers its Products to Lulu Lemon is one ofthe most successful companies globally in relation to provision of sportswear and other materials. The products and services are offered at various prices for instance: Recently the company unveiled new men’s yoga pants that cost $88 (www.businessinsider.com). Women top tanks are sold at $60 while stretching pants goes for $90 per pair (www.businessinsider.com). While these prices have been criticized in some cases, Lulu Lemon has continued attracting a wide range of clients in various parts of the globe.
Pricing Strategies Applied by the Company
Creating a Perception of Scarcity
This strategy has received criticism from the Wall Street Journal. According to this journal, Lulu Lemon has been in a position to sell approximately 95% of its products at a full price. This has been based on the strategy that involves offering fewer products in its outlets to ensure that consumer are instilled with a perception of scarcity (online.wsj.com). The core items are usually not placed on sale in most cases, in this case, when a client finds such products on the shelf, he or she feels that the product is scarce and will take it at the prices offered without considering any form of discount (online.wsj.com). In addition, the company has a strict return policy stating that no goods are supposed to be returned after fourteen days of sale; the policy also states the goods cannot be returned after they are washed worn: Such a policy has ensured its clients of the high quality of the products, thus determining the prices.
Using Clientele Feedback for Quality Improvement and Pricing
The company does not rely on large quantities of data to determine their clients’ needs, thus the determination of pricing, but rather focuses on taking direct feedbacks from clients, thus making necessary improvements on their products, which also influences prices. According to Christine Day the new Company’s Chief Executive Officer, the application of large quantities of data retrieved from websites, focus groups as well as client-management relationship software to determine quality and track purchases, may provide invalid information, thus a false sense of security (www.businessinsider.com). The use of direct clientele feedback is crucial in redefining products as well as the determination of associated prices. Taking feedbacks from clients has been achieved through training its employees on eavesdropping as well as taking direct complaints from clients (www.businessinsider.com).
Products Lifecycle on the Shops
The application of a product lifecycle is another strategy that has been applied by the company. The company ensures that when a new product, with a new color is introduced, it is kept on the shelves within a period of six to twelve weeks. In this case, the shelves are constantly supplied with fresh and new products (www.businessinsider.com). Ms. Day mentioned that this is a strategic way of ensuring that the company increases its prices without creating conflicts with the clients (www.businessinsider.com).

Work Cited
Lutz, Ashley. "Why Lululemons Stuff Almost Never Goes On Sale." Business Insider. Business Insider, Inc, 16 Jan. 2013. Web. 17 Nov. 2014. .
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The Wall Street Journal. Dow Jones & Company. Web. 17 Nov. 2014. Read More
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