The functional level strategies include the various actions and goals given to various departments to support the business and corporate level strategy. This strategy enables the management to come up with several strategies that will align their goals from the top management to the individual workers and also to have a clear understanding of how their departments influence the business and corporate level strategy.
From the functional level, Lululemon should to strengthen their customer loyalty and to hold on to the market share with the growing competition, the company should come up with several exclusive site fitness memberships to partner with the various studios that offer diverse activities. Their loyal buyers will find agreat value in the given opportunity to try several workouts while the partner studios benefit from increased traffic and brand awareness.
Lululemon needs to acquire the various factories that produce their fabrics to lower the costs that may be related to the use of a third-party manufacturer. It should also take advantage of increasing the production of men’s fitness wear to increase its market and through expanding the production like to include traditional sports specific wear like soccer or baseball. To supplement this strategy, Lululemon should expand the ambassador program to the various professional athletes in sports to increase its reach to many audiences.
In conclusion, the suggested strategies above have not been used by the organization, the aim is to boost the organization into a sustainable competitive edge and to build a continuous trusted reputation
Roll, M., 2016. Asian Brand Strategy (Revised and Updated): Building and Sustaining Strong Global Brands in Asia. Springer.
Stead, J.G. and Stead, W.E., 2014. Sustainable strategic management. Routledge.
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