Market Segmentation
The market segmentation for YogaPaws reaches four potential segments; women, 23-34 and 35-55, men and yoga instructors. People who practice yoga often have a median income of $75,000 or higher and are looking for health benefits and stress reduction. YogaPaws has something to offer all yoga practitioners whether they are looking for a non-slip solution for class, instructing, or traveling. YogaPaws are high quality and eco-friendly. Offering a compact, light weight, non-slip grip Anytime, Anywhere.
Market Segmentation
| |
Segment 1 |
Segment 2 |
Segment 4 |
Segment 3 |
| Description |
Women 23-34 |
Women 35-55 |
Men |
Yoga Instructors |
| Size |
72% of people who practice yoga are women, 23-34 year olds make up 40% |
72% of people who practice yoga are women. 35-55 year olds make up 41% |
Men represent 27.8% of the people that practice yoga |
Approximately 70,000 instructors |
| Age Range |
23-34 |
35-55 |
Any |
Any |
| Gender |
Women |
Women |
Men |
Men/Women |
| Race |
Any |
Any |
Any |
Any |
| Religion |
Any |
Any |
Any |
Any |
| Location |
USA |
USA |
USA |
USA |
| Marital Status |
Not Married/Married |
Married or has been married |
Any |
Any |
| Income level |
$50,000+ |
$50,000+ |
$50,000+ |
N/A |
| Education |
College Grad |
Any |
College Grad |
Certified Instructors |
| Family Structure |
Any |
Likely to be a wife and mother |
Any |
Any |
| Personality |
Active social life. Up to date on entertainment news. Young and a compulsive buyer, but sophisticated. |
A resourceful woman who is online less than 5 hours a week. More inclined to shop around than buy impulsively |
Active, self-confident men focused on health & stress reduction. More inclined to shop around than buy impulsively |
Cares about the environment. More inclined to shop around than buy impulsively. Wants quality product |
| Brand Attitudes |
Less concerned with brand name and more likely to buy from emerging one. |
Well known brands create a sense of product trust. |
Less concerned with well-known brands |
Less concerned with brand name, but wants high quality |
| Goals |
Muscle tone, stress reduction |
Stay healthy, hobby, stress reduction |
Less stress, be healthy, flexibility |
Teaching others, Stay healthy |
| Motivations |
Feel better about body image, Style, Eco-friendly, Injury |
Health, flexibility, getting away from family, quiet reflection time. |
Increased flexibility, Health, Wife/girlfriend, Injury |
Love of yoga, Health, Eco-friendly |
| Needs |
Peace of mind knowing they are buying a high quality eco-friendly product |
Stress reduction, Weight loss, Feeling young/attractive |
Stress reduction, Flexibility |
Longevity, Product quality,Eco-friendly product |
| Decision-Making Factors |
Price, Style, Convenience of shipping |
Price, longevity, travel ability, website security, quality |
Price, Convenience of shipping |
Price, longevity, quality |
| People/ Influences |
Friends and family, Entertainment industry, (Magazines, celebrities) |
Co-workers, Yoga instructors, Magazine articles |
Family and friends, Yoga instructors |
Yoga studio, Yoga school, Co-workers |
| Expectations |
High quality, durability, guarantee, Fast shipping, Testimonials, Ability to leave reviews |
Good customer service (preferably phone), Fast shipping, High quality, durability, guarantee, return policy |
Good customer service, Fast shipping, High quality, durability, guarantee, return policy |
Good customer service, Fast shipping, High quality, guarantee, return policy,Testimonials, Brand Exposure |
What they think about YogaPaws
|
Simplicity & convenience, effective. Likes “green-ness” of YP. Likes different colors and ergonomical design. Compact non-slip solution |
Simplicity & convenience, effective. Likes “green-ness” of YP. Likes different colors and ergonomical design. Compact non-slip solution |
Simplicity & convenience, effective. Likes “green-ness” of YP. Likes different colors and ergonomical design. Compact non-slip solution |
Simplicity & convenience, effective. Likes “green-ness” of YP. Likes different colors and ergonomical design. Compact non-slip solution |
Market Trends & Growth Patterns
Women
According to the US Census Bureau, as of 2008, Women between the ages of 25-44 accounted for 26.18% of the US female population, approximately 40.9 million people. As a percentage of the total population, this segment is projected decrease slightly to 25.68% of women by 2020. However, this will still result in a population increase, to an estimated 43.5 million people in 2020. Overall, the Census Bureau predicts a slow but steady increase in this population over the next decade.
Yoga
A 2008 study indicated that almost half (49.4%) of current yoga students began practicing to improve their overall health, which has grown since 2003 when that number was 5.6%. Nearly 8%, or 18.3 million Americans, say they are very or extremely interested in yoga and 4.1% of non-practitioners, or about 9.4 million people, say they will definitely try yoga within the next year.
“Green”
Mintel forecasts that there will be a 19% growth for green products by 2013. About 50% of women say are looking for more green options. 37% say they are paying more attention to brands that are committed to environmental causes and of all the products in woman’s shopping carts today, 25% of them are environmentally friendly. 30% of American consumers are willing to pay up to a 20% premium on clean, green products over non-sustainable alternatives.
Market Size and Potential
Women
72% of yoga practitioners are women who do the main purchasing for the household.
Yoga
YogaPaws market size consists of the entire population of yoga practitioners, approximately 15.8 million people.
“Green”
The green movement is continuing on the rise, growing around 5% per year.
Travel
Cloud Travel pointed out the top 10 destinations for Americans last year, according to Travel and Leisure. Apparently 61.8 millions Americans crossed the border last year and 5.1 million international visitors landed in the USA 2010. U.S. is responsible for $246 billion was spent on Business Travel, and about 42 percent of U.S. adults reported traveling by air for leisure trips. Thats 130 Million people expected to travel for leisure.
Of those traveling for business, pleasure, domestic, or international we are not sure of the exact # of which practice yoga. However, it is safe to assume with yoga's growing popularity in addition to the 15-20 million practitioners in the US alone, the market for traveling yogi's is vast. YogaPaws anyone? :)
[1] http://www.yogajournal.com/advertise/press_releases/10
[2] http://www.census.gov/popest/national/asrh/NC-EST2008/NC-EST2008-01.xls
[3] http://www.yogajournal.com/advertise/press_releases/10
[4] http://www.consumeraffairs.com/news04/2009/02/recession_greens.html
[5] http://www.thedailygreen.com/living-green/blogs/green-products-services/women-marketing-55051206#ixzz0lrd3nW1H
[6] http://www.goodandgreen.biz/
[7] http://www.changeboard.com/resources/article/2929/10-green-trends-for-consumers-in-2009-2010/
[8] http://www.internetbasedmoms.com/net_selling.htm
[9] http://www.snewsnet.com/cgi-bin/snews/14805.html
[10] http://www.forbes.com/2007/07/02/environment-economy-jobs-biz_cx_bw_0703green_greenjobs.html
[11] http://www.census.gov/prod/2009pubs/10statab/health.pdf