http://www.marketingmag.ca/english/news/marketer/article.jsp?content=20100112_165100_9552
Summary
Lululemon Athletica, a brand well-known to teenagers and young adults is continuing to broaden its Olympics-related advertisement by offering free yoga classes throughout the month of February. This particular act of marketing is the second attempt by Lululemon after its clothing line that was created for a "Cool Sporting Event That Takes Place in British Columbia Between 2009 and 2011" was scolded by VANOC. Since VANOC has the exclusive marketing right to only allow official, paying sponsors to bear the brand, Lululemon had no other option but to remove that clothing range. In replacement of removing the clothes, they will provide 1200 free classes of yoga throughout the Games duration with the help of YYoga. While the press release that initiated this event did not mention the Olympics, one can only assume.
Connections
As I skimmed through this article, the first thought that occured to me was that this marketing strategy to attract more customers is an infrequent event. While this event does not generate any profit at the time of the two weeks, it has great potential to earn more revenue in the future. Furthermore, since free workshops are not a significant part of Lululemon's regime, there is not much of a need for any segregated section in the financial statements because this event does not directly bring in profit compared to, for example, a sudden inheritance in land.Workshops like this have the ability to allow marketing directors at Lululemon to see what customers like and what to produce more of in order to increase their revenue even more in return.
Reflection
I thought this was a relatively creative idea to gain customers because individuals appear to have a natural tendency to attend occasions that are free. Despite the fact that not everyone will go, word of mouth will come into play and people who are willing to spend money on yoga wear will then proceed to Lululemon, especially since it is one of the biggest companies selling yoga apparel. I also applaud their decision to have this gathering during the Olympics where people from all around the globe will be in Canada and once they know of the company, they can choose to order the apparel in the future.
Betty ChanF. Acc12 D1-P2
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It's a pity that Lululemon wasn't allowed to sell put their new clothing line on the market. If they had been permitted to, I believe they would have a great chance to increase their reputation in the market. As more and more people are attracted to the new line of clothes, word will spread and eventually many consumers will be aware of the brand Lululemon. I believe that if Lululemon had been a sponsor to the Olympic Games, they would instantly gain a lot of consumer awareness about their products, and along with that, they would be allowed to introduce their new clothing line.
ReplyDeleteI find this a very interesting way to advertise their clothing line.Instead of advertising on television or newspapers like most companies does, they put up an type of promotion to increase the reputation of their company. This strategy is definitely going to have a positive impact on their reputation because of the word "Free". It is human nature, people love free stuff. I think there is also an element of risk in this kinda of advertisement because if people only participate in the free stuff that this company is offering, then Lululemon Athletica will be losing money. They will still have to pay for the expense of their yoga teacher, but they will lack income from their yoga service since it free;thus, the only way to account for the expense is from other source of income IE. their clothing market.
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