Market Analysis on the Yoga Industry

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Page 2 of 50 Table of Contents <strong>Market</strong> <strong>Analysis</strong>.............................................................................................................................. 3 History......................................................................................................................................... 3 Industry Description and Trends................................................................................................. 3 Yoga trends.............................................................................................................................. 3 Target <strong>Market</strong>.................................................................................................................................. 6 Size of the <strong>Market</strong>.................................................................................................................... 6 PLC of market ......................................................................................................................... 6 The Yoga Practitioner Profile ..................................................................................................... 6 Breathe Active Wear’s Current State.............................................................................................. 6 Competition – Strengths and Weaknesses ...................................................................................... 8 Price Strategies................................................................................................................................ 9 PEST <strong>Analysis</strong> .............................................................................................................................. 11 New Promotional Strategy............................................................................................................ 12 Appendices.................................................................................................................................... 21 Email <strong>Market</strong>ing Statistics and Metrics ................................................................................... 21 Bibliography ................................................................................................................................. 50
Page 3 of 50 <strong>Market</strong> <strong>Analysis</strong> A complete review and analysis of the market conditions, customer behaviors, and trends are essential to examine in order to get a good understanding of any industry. This market analysis report will start by examining yoga’s history. History  Yoga has existed for many centuries. Rig Veda founded yoga approximately four thousand years ago, and is the oldest written text in the world. Rig Veda means the “knowledge of Praise,” and comprises 1,028 songs. These songs were passed down through oral traditions, such as story telling before the songs were written. As well, Indian scriptures written three thousand years ago show yoga poses, and Hindu scriptures called the Vedas describe yoga in detail. 1 Industry Description and Trends  Yoga is a form of exercise that works the physical and mental aspects of the body, uniting the mind, body, and spirit. The word yoga comes from the Sanskrit work yoke meaning “union” or “joining together.” 2 Yoga trends  Yoga has been around for many centuries, in fact long before it became popular in North America. For the purposes of this market analysis report, the yoga industry is analyzed from the years shown in the timeline illustrated below. 3 Late 1980s  1990s  2000s  Presently  Future Predictions  Late 1980s: In the 60s and 70s, yoga took over many people’s lives and in the late 1980s yoga classes sprung everywhere. Many forms of Yoga were introduced in the North American market such as hatha, karma, bhakti, jnana, and tantra. 1990s: During the 1990s an interesting shift in perception was happening, when the aerobic fitness-craze began. More North Americans were concerned with their health, body image, and fitness.                                                               1 Albo, Bonny. (2008). A Brief History of Yoga: Part Two of the Yoga as Exercise Series. Jan. 27, 2007. http://yogapilates.suite101.com/article.cfm/a_brief_history_of_yoga. Retrieved December 30, 2008. 2 Albo, Bonny. (2008). Yoga as Exercise Defined: Part One of the Beginner’s Guide to Yoga as Exercise. Jan. 28, 2007. http://yogapilates.suite101.com/article.cfm/yoga_as_exercise_defined. Retrieved December 30, 2008.   3 Ibid.
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Page 49 and 50: Core Competency(s) Competitive Adva

Market Analysis on the Yoga Industry

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