Yoga Moves Marketing Plan
YogaMoves is a yoga clinic focused on Ashtanga Yoga which is a work out form of yoga. It is a bit difficult to do and somehow it lessens its appeal. Eileen Hall is one of the 37 certified yoga teachers in the world who were mentored by Sri K Pattabhhi Jois. Although the company is successful in its own way, there are opportunities and threats which are needed to be addressed. Conclusions and Recommendations YogaMoves should reinvent itself in terms of image and pricing.
With the competitive edge that it has, it is very possible to achieve growth. Primarily, the company should create its own brand by capitalizing on the quality and exclusivity of its services. The company needs to update its pricing strategy by adopting a premium pricing strategy which will differentiate it in the market. The aim is to be the benchmark for Ashtanga yoga in Australia and sorrounding countries. The price increase is coupled with improvements of the location and in the future, a provision for expansion.
A certification service should be added to its services, hence, this service is going to be guided and authenticated by Sri K Pattabhhi Jois. Retreats and workshops will be invitational with the
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In any business, threats and competition are constant. To address such, monitoring should be rigid and systematic. A study on the market will always give a better overview of what the customers really want. Futhermore, with the provision for expansion, the company will be in dire need of capital to facilitate all the current innovations and improvements on the location and the service itself. Current Market Assessment 3. 1 Market Definition Individuals face the demands for effectively manage time for career, leisure, education, family and recreation.
The fitness industry ventures on the challenge of enticing the the market to participate and join in the quest for fitness and health (Sports and Physical Recreation Services, Australia, 2004-05). Fitness centers are often categorized as gyms and exercise clinics. As time goes by, yoga became popular in the US and other parts of the world such as Australia and a yoga clinic is now classified as a fitness center as well. Yoga is considered as a form of exercise and theraphy for healing health conditions such as heart ailments, asthma, arthritis and even pschological problems pertaining to depression (Stephen Penman & Prof.
Marc Cohen 2005). According to a study conducted by Australian Bureau of Statistics in 2003, 85% of yoga participants are mostly women. Moreover, the survey revealed that yoga is more popular than Australian Rules Football. In Australia, the fitness center industry grew from 667 fitness centers in 2001 to 824 by the end of 2005 (Sports and Physical Recreation Services, Australia, 2004-05). Aerobics, weight training, Pilates, and Yoga are among the physical activities classified under the fitness industry.
In 2005, majority of these fitness centers were located in South Wales, Queensland, Western Australia and Victoria. These locations demonstrated remarkable growth in the fitness industry. ( Participation in Sports and Physical Recreation, Australia, 2005-06 (cat. no. 4177. 0). 3. 2 Market Analysis Target Market According to the study of Australian Bureau of Statistics, the majority of those who participated in yoga are women from age 15-34 and 35-54 which simply implies that the target market of YogaMoves are female students, career women and working mothers.
The table below displays the participation of people on fitness activities such as yoga, aerobic, weight training and Pilates. In the table below, the target market of yoga clinics are mostly women from the age bracket of 15 to 54 years old, however, the male market can also be developed in the future. Indirectly, the main competitors of the yoga industry are the fitness and aerobics centers with a total market share of 15. 7% for females and and 12. 6 percent for males.