Lululemon Athletica Strategy Recommendation
the company is Lululemon.
Lululemon Athletica Strategy Recommendation
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Lululemon Athletica Strategy Recommendation
Overview
Lululemon is a strong athletic apparel global brand famous for its quality products. The company has been able to strategically target a market niche of producing yoga and activewear. As the company consultant, a value proposition would be advising the company on ways to first, improve its competitive position considering other strong brands like Nike and Adidas and second invest in new market trends by strategically promoting the company’s sustainable growth and market leadership. Based on our previous comprehensive internal analysis using the Porter Five Forces model, the company's force of competitive industrial rivalry and the threat of new entrants is strong (Wang, 2023). Therefore, the focus areas for basing the recommendations advocate for environmentally responsible products, innovative product development, and enhanced digital customer experience.
In the current times, customers are attracted to eco-friendly products thus the company should adopt sustainable practices so that consumers can perceive the company s environmentally sensitive. Second, through research and development, the company can adopt the dynamic global trends in developing innovative products to meet the needs in time. besides, the company should be able to research new materials and technologies that improve its performance making it outstanding from the competitors (McKinnon, 2023). Last, due to technology, a majority of customers have shifted to online shopping, hence, Lululemon should personalize the experience as a
way of promoting its
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