BUSN 70 Lecture Notes - Lecture 23: Lululemon Athletica, Fitbit, Eric Friedman
13 Mar 2021
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Document Summary
The marketing mix is the part of the marketing strategy that involves decisions regarding controllable variables. After selecting a target market, marketers develop and manage the dimensions of the marketing mix to give their firm an advantage over competitors. Successful companies offer at least one dimension of the marketing mix that surpasses all competitors. These companies must also maintain acceptable, and if possible distinguishable, differences in the other dimensions as well. Built based on who target customers are and where they are. Ipo for the company was filed in 2015. Thousands of new products are introduced annually, few succeed. It takes time to get a new product to market. Sometimes a product or idea is shelved, only to be returned to later. Idea development = new ideas come internally from marketing research or employees and from external sources such as ad agencies, consultants and customers. Nike has a separate division (nike sport research lab)
