Analysis of Sports Brand Marketing Strategy Based on STP Theory: Lululemon as an Example
Year: 2024
Type: article
Abstract: In the sports apparel market continues to slump, the global retail industry is in a weak state of the environment, Lululemon started with yoga clothing but the scenery is unique, and become a sports brand comparable to Adidas and Nike. This paper analyzes Lululemon's successful brand strategy from three aspects: STP strategy, sports brand management and DTC marketing, and puts forward constructive suggestions on Lululemon's current market sinking. In the operation of the Chinese market, lululemon's successful brand function positioning strategy plays a decisive role, which is divided into market segmentation, target and positioning. Market segmentation analyzes lululemon consumer groups from demographic factors and psychological factors. Lululemon is more optimistic about the sales situation in Chinese first-tier cities, and is planning the expansion of offline stores in second-tier cities. Taking Chengdu as an example, it analyzes its market share. Through unique selling points, lululemon has solved the pain points, and consumers' spending power has been improved.
DOI: 10.62051/t7sssm12
Author: Ran Bi
Institution: Yanching Institute of Technology
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4401767401