Chpt3: Processing Data Through the Accounting System

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.

Connection

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 Chan
F. Acc12 D1-P2