Personal Reflections Blog

Blog Topic #8 Pricing A recent purchase I made was a pair of leggings from Lululemon. The cost of them were $138 with tax. When I am purchasing leggings from Lululemon I don't often worry about the price too much just because I already know that all of their products are such good quality that you are paying for what you are getting. Having a pricing strategy for your company is very important because it will be able to let your customers know if you have a higher price range or a lower price range. In chapter 9 I learned that you really need to focus on your company having a price range because if customers are coming into your store with maybe a lower income and your products are selling at a higher price range then your store might not be the right one for them. If they are coming into your store and not having a clue whether you are selling clothing for $100 opposed to $20 you might need to consider having a different marketing strategy or promoting strategy to be able to te

Blog Topic #7 Retailing & Wholesaling Identify a retailer that is struggling. Describe what is going wrong and how you could adjust the retailing mix to help move them towards profitability. A retailer that is extremely going down hill is Sears. Sears has been struggling for a few years now. They used to be known for their hardware, for example washers and dryers. Now they have expanded and are trying to be the ultimate store by having everything from shoes, clothes, makeup, microwaves, bedding ect. Due to Sears having such a broad range of products, they have been failing tragically and are now starting to go out of business. To be able to get back in business they would need to focus down on one department and take some of their products that they are selling, out. I believe that doing this would help them get back into business because then it would give people a sense of what their store specializes in and wont have random things all over the store. Sears should also have a

Product & Brands What is your favourite brand? Why? My favourite brand is Lululemon due to the quality of their clothing. In my opinion their leggings are one of their best products. They are made of 86% nylon and 14% lycra (Luon). Luon has been tade marked by Lululemon since it is was their pants as well as some of their other products are made of. Their fabric is already preshrunk, they are stretchy as well as warm. They are also great for working out because they absorb sweat but are also great for everyday wear. Lululemon products are on the more expensive side but you are paying for what you get and the quality of their products are amazing.