It is important to do a competitor analysis to understand your competitors’ strengths and weaknesses in comparison to the company you work for. It will help you recognize how you can enhance your own brand’s business strategy and design.
When you do a competitive analysis, you can identify your target audience, predict supply and demand, see/understand your SWOT analysis, improve your brands reach, and understand your competitors.
Lululemon differs from its competitors because it emphasizes its connection with its customers. They also exceed in product quality, customer loyalty, patented material, efficiency, innovation, and responsiveness to customers. Lululemon’s image and message should differ from its competitors by matching the aesthetic of Lululemon and have a deep connection with the public since that is what they are good at.
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