Marketing Homework on Lululemon Athletica
Directions
Prepare your assignment beginning with a title page including your name, Lululemon Athletica product or service, and target market. The answer each of the following four questions in order and number the beginning of each question. There is no need to repeat the question text. 1 and 1/2 page Double space.
1. Offering. Describe Lululemon Athletica product or service offering as it is currently in terms of features and benefits, price and the total cost of ownership. Is it more product dominant or service dominant. What are the tangible and intangible aspects?
2. Type of consumer offering. Based on the four categories of type of offerings discussed in course content, describe in which category your product or service offering belongs. Based on your new target market, would that category of the offering change and if so, how? How would it change marketing strategy?
3. Product line extensions or new product development. Should the current product or service be modified to more fully meet the needs of your new target market? Would the changes constitute a new product line, a product line extension or a new product? If no product changes are needed, how does the same product or service meet the need of your target market differently than current customers? Would the product line extension or new product allow the offering to occupy uncontested space in the perceptual map for the target market as covered in Week 4?
4. Product lifecycle. In which stage of the product lifecycle is your product or service offering now? Would the changes described in number 3 above change the life cycle stage and if so how? What would this mean to the lifecycle marketing strategy?