Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

As a result of these varied tactics to enhance its segmentation and targeting, lululemon has exceeded recent predictions of its performance. The sales bumps occur

image text in transcribed
image text in transcribed
As a result of these varied tactics to enhance its segmentation and targeting, lululemon has exceeded recent predictions of its performance. The sales bumps occur across the board but mainly come from the menswear items, For example, a remarkable 21 percent of purchases by men came from new customers. 40 The appeal to these guys-who previously assumed that lululemon was only for women-is strategic and targeted. And it seemingly is working. In a recent survey, men expressed far more positive views of the brand than they had previously, and more of them had made purchases from it 41 Nevertheless, in spite of increased sales of menswear, lululemon recently closed its men's only stores in Toronto and New York City less than two years after opening. 42 Brand awareness of lululemon is low with men; still, the company is not abandoning them. In fact, menswear revenues, which currently account for 20 percent of annual revenue, are projected to double by 202343 Questions 1. Sales of lululemon menswear are good, but brand awareness remains low. How could the company leverage its strength in the women's market to address this? 2. What other segmentation bases could lululemon use to better appeal to men? Discuss why your approach would be effective. 3. Based on the different needs and wants of men, recommend a positioning method that would be appropriate for selling menswear

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Successful Time Management

Authors: Patrick Forsyth

6th Edition

1398606197, 978-1398606197

More Books

Students also viewed these General Management questions

Question

Evaluating the financial condition of an entity

Answered: 1 week ago