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Strategic Strengths
The first strategic strength of the company consists in the fact that they concentrate their efforts on the unremitting production of new male and female apparel (Thompson 331). By doing this, the company covers the majority of the sectors that are currently dominated by its rivals. The second strength relates to the collaboration with numerous fashion designers. This allows Lululemon Athletica to expand the product mix and introduce new clothing lines to the market (Thompson 331). The third strategic strength of the company is reflected by its successful marketing campaign. Lululemon Athletica efficiently manages its advertising in social networks and entices new customers (Thompson 331).
Strategic Weaknesses
The first and the foremost strategic weakness of Lululemon Athletica is its limited global reach. Even though the company boasts high-quality products, it is strained by its locality-focused business model (Thompson 331). The second strategic weakness of the company consists in the fact that this company is not rather famous and the majority of customers are not aware of it. In other words, brand recognition is also one of the critical weaknesses of Lululemon Athletica (Thompson 331). The third strategic weakness focuses the attention on one of the smallest employee bases among the competitors. Despite its worldwide reach, the company is not able to manage its human resources efficiently (Thompson 331).
Strategic Suggestions
The company should carefully explore the market and adjust its business model to the complex structure of the sports apparel industry (Thompson 335). By doing this, Lululemon Athletica will be able to increase its profits and strengthen its position in the market. Another strategic suggestion is to pay attention to the older customers and the current market trends (Thompson 335). This proposition is supported by the idea that the latter embrace healthy and active lifestyles. The ultimate suggestion is intended to make the best use of emerging economies and provide an even bigger customer base with the companys products (Thompson 335).
Defensive Strategies
There are several critical aspects that should be taken into consideration when developing the defensive strategy for Lululemon Athletica. First of all, it is pivotal to take into account the high-level fragmentation of the sports clothing industry (Thompson 343). The company will have to consider the competitors brands and their approach to the process of manufacturing new goods. The second vital aspect is the flexible nature of the fashion trends and sports clothing market (Thompson 343). In order to efficiently defend the existing position, the company will have to face this challenge and engage into the competition so as to win some space and maneuver through the weaker opponents and other concomitant issues.
Offensive Strategies
If Lululemon Athletica expects to conquer the market, they will have to promote themselves in a much more aggressive manner. This includes various billboards, social network promotional messages, and contests with great prizes (Thompson 344). The ultimate objective of this approach is to create a connection between the customers and the company. Another offensive strategy is to expand the product mix and develop new product lines. Lululemon Athletica has to keep up with the pace of the current trends (Thompson 344). Therefore, manufacturing innovative sports clothing may become one of the ways to allow the company to declare itself to the whole world and pose a threat to their more eminent rivals.
Work Cited
Thompson, Arthur. Lululemon Athletica, Inc. in 2014: Can the Company Get Back on Track? Business Administration, McGraw & Hill, 2015, pp. 329345.
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