Lycra Marketing Mix: Lycra is a type of synthetic fiber with an elastic property. It is closely associated with lifestyle and retail since it involves clothing manufacturing. The Brand Lycra was founded in 1958 by the founder Joseph Shivers and was introduced in 1962. Through the years, Lycra has developed the highest standards because of its invisible fibers and light quality. It has also become an integral component in many clothes. Lycra is an owned brand by INVISTA, which has been a subsidiary of the primary firm Koch Industries since the year 2004in April. The Brand is competing with companies that produce replicas of Lycra.
Marketing Mix Of Lycra
Marketing Mix Of Lycra is brand-based. In Marketing Mix Of Lycra, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Lycra Marketing Mix. Below is the detailed Marketing Mix Of Lycra.
Let’s talk about Lycra Marketing Mix.
Lycra Main Competitors
- Standard Fiber
- Infinited Fiber
- Worn Again
Lycra official website: www.lycra.com
Product in the Lycra Marketing Mix:
Lycra is well-known for its flexibility, strength, and endurance. It is a preferred material in making many garments, including skin-tight clothing. One of the main advantages is that it will return to its original size and shape after stretching again. Lycra is utilized in the production of dance belts and orthopedic braces, and home furnishing items such as pillows and cushions. It is used for creating clothes for females and males. It also includes the following:
- Swimwear comprises swim briefs, swim trunks, board shorts, rashguards, clothing for swimming, and the latest performance swimwear.
- The collection includes jackets, t-shirts, suits, jeans, shirts, sweaters, and pants.
- Activewear comprises sweatshirts, hoodies and warmups, warmups, jackets as well as shirts, jerseys, and shorts.
- A base layer comprises products such as high-quality compression tops, shorts for compression, and tights.
- Shapewear for men that resembles underwear socks, boxers, socks, and briefs.
- Accessories like gloves, belts
- Intimates such as shapewear, lingerie, and bras
- Activewear comprises yoga pants, base layer tops, bottoms, tops, and sports bras
- Legwear can include items like leggings, socks, tights, and the hosiery
- Tankinis and swimwear or performance swimwear, rashguards and bikinis, swim shirts as well as one-pieces, cover-ups, and bikinis.
- Wearables include sweaters, tops, dresses, pants, skirts, jeans, and shorts.
Place in the Lycra Marketing Mix:
Lycra is referred to in various nations under various names. It is known in North America, called Spandex, and in Europe by multiple variants of elastane such as elastane from Germany, elastane in the Netherlands, elastane in Spain, elastane in France, and elastane in Italy. It is known as Lycra and is used in Israel, New Zealand, Australia, Argentina, Brazil, Portugal, India, Ireland, and the United Kingdom.
In 2011 INVISTA announced the opening of a manufacturing facility to manufacture Lycra located in Brazil. Lycra fiber is a dependable supply network since it is now a preferred fabric among designers, mill owners, and brands creating all kinds of clothing. The distribution channel comprises manufacturers, wholesalers, agents, and representatives to facilitate business.
Price in the Marketing Mix Of Lycra:
Lycra is an on-demand fiber that can alter clothes by providing greater comfort, shape, and fit, even after long-term use. It is a trademarked brand of the Brand, and the genuine fibers are manufactured exclusively by INVISTA. Lycra has been able to adopt a price-per-use policy as it wishes to further penetrate market share in the consumers’ segment by expanding its shares of the market. It has also kept its product costs reasonable to ensure clients can appreciate its value and continue to buy the product in large quantities. With more usage, higher are its profits and, consequently, Lycra has implemented a variety of promotional tactics to boost its sales volumes.
Promotions in the Lycra Marketing Mix:
Lycra is a well-known brand worldwide and has implemented several marketing guidelines to sustain its Brand recognition. Brand Lycra introduced its campaign for consumers, called LYCRA Sensations, for the first time on print and television in the late 1990s. Since then, it has been advertising through various media channels and occasions. In 2014, it launched a second successful campaign called LYCRA It Moves You.
Filippo Pozzato is a professional cyclist of Italian origin. He has been made his own Brand Ambassador of Lycra Sport by CARVICO and encourages the introduction of this unique fabric within the cycling world. Andres Sarda, a swimwear designer, has highlighted the benefits of using Lycra, the Xtra Life fiber, within the collection. Lycra has signed an agreement with Galeries Lafayette Paris Haussmann to showcase five catwalk shows featuring tight clothes.
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