FOR FREE CONSULTATION (858) 876 4597
tyler@thestartupgarage.com

Market Analysis

Share This

[addtoany]

Startup Resources and Investor Products from The Startup Garage

Market Analysis

This section defines the Company’s target market segments and provides demographic and psychographic
information for these segments as well as trends and growth opportunities.

THE ADDRESSABLE MARKET – B2C

Bamboo YogaPlay is an eco‐friendly Costa Rican resort that emphasizes unique services including yoga and healing
arts. Bamboo YogaPlay is part of Costa Rica’s tourism sector, which in 2009 included 2.29 million international
visitors. Bamboo YogaPlay’s target market is a dynamic group of travelers who wish to learn more about and

express themselves through an artistic outlet and enjoy the ecotourism and adventures that Costa Rica has to offer
in a relaxing environment. These eco travelers generally take part in Bamboo YogaPlay’s yoga and healing services,
as well as enjoying wildlife excursions such as canopy tours, horseback riding, or hiking. Bamboo YogaPlay looks to
take advantage of the Costa Rican tourism market that has experienced steady growth over the past several years,
a trend which is expected to continue for the foreseeable future. Bamboo YogaPlay is also in a position to take
advantage of the worldwide increase in eco‐tourism, and the improved access to the Southern Zone of Costa Rica.

The first segment that Bamboo YogaPlay is targeting is North American Tourists. North Americans tend to travel
most during their summer and winter seasons. Members of this segment have generally traveled in the past, and
may have visited other ecotourism locations.

The second segment which Bamboo YogaPlay targets is European travelers. Europeans generally have longer
holiday periods and wish to travel to warmer locations during their winter season.

The third segment is tourist from other countries in the Americas, which consists of countries that are in Central
and South America as well as Mexico. These travelers have an above average living standard compared to the rest
of their country and can afford to travel, but generally have less disposable income than the other market
segments.

B2C MARKET SEGMENTATION

The following tables provide information and statistics on Bamboo YogaPlay’s target market segments:


MARKET TRENDS & GROWTH PATTERNS

While the global recession caused a decrease in tourism to Costa Rica from all around the world, the largest
decrease was seen from United States residents. However, the tourist market in America is growing due to the
large baby boomer generation. More than ever before, the baby boomer generations (those born between 1946‐
1964) are traveling overseas.13 Tourism arrivals in Costa Rica have increased from 1.72 million in 2006 to 2.15
million in 2008 and 2.29 million in 2009. In spite of the recession, the market is expected to grow 8% per year
through 2014.14

Throughout the three target market segments, the winter and summer season have the most traffic into Costa
Rica. Winter/holiday season of December and January is the highest volume of travelers. The summer months of
June, July, and August also demonstrate higher numbers of travelers.

MARKET SIZE & POTENTIAL

In the first three quarters of 2009, there were 1,478,360 international tourist arrivals in Costa Rica. Of those
travelers 712,789 visitors are from North America, 187,486 are Europeans, and 537,645 are visitors from Central
and South America.

28.7% of travelers from the United States express interest in visiting Costa Rica, a market of 14.2 million people.15

Share This

[addtoany]

Market Analysis

[php]the_title();[/php]

MARKET SNAPSHOT

  • There are 27.9M small businesses in the U.S.
  • There are over 13M wage and salary sales workers in the U.S. as of 2010.
  • The largest four industries utilizing CRM software are: Education, Manufacturing, Retail & Wholesale and Utilities.
  • North America currently is the largest CRM market, reaching $10B in sales so far for 2012.

Addressable Market

Symbiosis’ addressable market consists of small businesses – and the wage and salary sales workers of these businesses – that need a CRM system that organizes their customers’ information easily and effectively while increasing sales volume and revenue.
Target Market Analysis Sample Business Plan from The Startup Garage

Small Businesses – Market Size

The Small Business Association (SBA) defines a small business as having fewer than 500 employees, though there is some slight variance in this definition depending on the industry. According to the SBA’s most recent published data, there were 27.9M million businesses in the U.S in 2010 and only 18.5K businesses with 500 employees or more. Small businesses with fewer than 500 employees represent 99.9% of total firms and 99.7% of all employer firms. Small businesses employ half of all private sector employees and pay 44% of total U.S. private payroll.

Wage and Salary Sales Workers – Market Size

According to the U.S. Bureau of Labor of Statistics, there were over 13M wage and salary sales workers in the U.S. in 2010. The following table provides information about select U.S. sales occupations in 2010:

Occupation Number of Employees Average Wage
Sales representatives (wholesale and manufacturing, except technical and scientific products) 1,367,210 $52,440
Sales representatives (services, all other) 531,410 $50,620
Sales representatives (wholesale and manufacturing, technical and scientific products) 381,080 $73,710
Insurance sales agents 318,800 $46,770
Securities, commodities, and financial services sales agents 276,290 $70,190
Real estate sales agents 153,740 $40,030
Advertising sales agents 145,160 $45,350
Sales engineers 66,060 $87,390
Real estate brokers 41,210 $54,910

While there are numerous occupations within the sales industry, most occupations fall into the education, manufacturing, retail & wholesale or utilities categories. Manufacturing and retail sales occupations have the highest number of employees, with 1.3M spread across the nation. Service sales representatives generally fall under the utility or education category, as such sales representatives generally sell consulting services, telecommunication services or other service based solutions such as insurance or finance advice.

B2B Market Segmentation

Symbiosis will specifically target the education, manufacturing, retail & wholesale and utilities industries as these are the largest markets that utilize CRM systems. The following table provides information on these industries:*

Education Industry Manufacturing Industry Retail & Wholesale Distribution Industry Utilities
Industry Need for CRM Allow institutions to build stronger relationships with students and other constituents. Institutions are targeting admissions and enrolment, student services and financial aid as the areas driving CRM investment. Provides the basis to respond to a new customer-centric, customer driven business model and integrate multiple partner channels for a holistic customer view. Provide complex pricing and promotions, sophisticated discounting permutations, Radio Frequency Identification (RFID) and bar code scanning, real-time integration with Point of Sales (POS), terminals and extended integration with Supply Chain Management (SCM) systems. Provides increased workflow automation, electronic bill presentment and payment (EBPP), self-service, mobile field service and CRM analytics in order to respond to external pressures.
Types of CRM Utilized Oracle’s PeopleSoft, SunGard, SAP, Oracle, Talisma, Onyx and RightNow. Siebel Systems, SAP, Oracle, Avaya, Dendrite, Genesys, SSA, QAD, Fair Issac, Pivotal, Infor and Microsoft. Reynolds and Reynolds, SAP, Avaya, Lawson, Fair Issac, Oracle, Genesys, Omniture and Siebel Systems. Siebel Systems, SAP Aspect Software, SPL WorldGroup, Avaya, Genesys and Oracle (without Siebel).
Company Examples Colleges and Universities in both North America and Europe. Kawasaki Motors, Brandrud Furniture and Milacron. IBM, Alta Resources, Three Rivers Pharmaceuticals, BlueCross BlueShield and American Airlines. America Online, Gaz Metropolitan Plus and AGL Resources.

*All information was taken from CRM Forecast Industry Solutions 2012.

Ideal Customer Profile

The Ideal Customer for Symbiosis is a small business owner with a company of 1-100 employees, or an employee within such a company that makes purchasing decisions. These are small businesses that consistently build and maintain positive relationships with leads, clients and partners in order to be successful.

Ideal Customer Market Analysis Sample Business Plan from The Startup Garage

These businesses have a major challenge managing the dozens or hundreds of relationships they form, and mismanaging or losing these connections often leads directly to lost sales and revenue. In order to fix this problem, these businesses use a variety of systems, including email, calendars, to do lists, and more, but would prefer an easy to use system that has all of this included, and is more intuitive to use. Many of these business owners are also looking for more functionality than a simple contact manager, calendar or to do list. They want to add information about their contacts that will be used to effectively measure the efficiency of their sales and marketing efforts, and better understand the financial impact of their relationships. Many of these small businesses have also attempted to use Customer Relationship Management services such as Batchbook or Sugar CRM, but have found that they are too cumbersome and time consuming to be effective for their needs. These business owners would also like tools and features that will improve their employees success rates such as gaming mechanics and lead generation tools.

These small businesses are also very budget conscious, and they are unable to hire another employee or purchase expensive customized software to handle these needs. Although online CRM systems are inexpensive compared to these alternatives, these small businesses are price sensitive when comparing their choices.

When they use Symbiosis, these ideal clients are impressed with by the small amount of time that it takes to perform functions, like entering a contact or creating a report. The innovative gaming, tagging and report building systems allows users to analyze information quickly and intuitively, which is a huge value to the small business owner, who knows this information is critical but doesn’t have much time to spend finding it. The small business owner also appreciates the pricing of Symbiosis, which is designed to accommodate even very small businesses, and continue to be affordable as they grow.

[php] previous_page_link_plus( array(‘in_same_parent’ => true, ‘order_by’ => ‘menu_order’, ‘order_2nd’ => ‘post_title’ ) ); [/php]

[php]the_title();[/php]

[php] next_page_link_plus( array(‘in_same_parent’ => true, ‘order_by’ => ‘menu_order’, ‘order_2nd’ => ‘post_title’ ) ); [/php]

Private: Market Analysis

[php] if(function_exists(‘bcn_display’))
{
bcn_display();
}[/php]

Market Analysis

Market Analysis

[php]the_title();[/php]

The Addressable Market – B2C

Bamboo YogaPlay is an eco-friendly Costa Rican resort that emphasizes unique services including yoga and healing arts. Bamboo YogaPlay is part of Costa Rica’s tourism sector, which in 2009 included 2.29 million international visitors. Bamboo YogaPlay’s target market is a dynamic group of travelers who wish to learn more about and express themselves through an artistic outlet and enjoy the ecotourism and adventures that Costa Rica has to offer in a relaxing environment. These eco travelers generally take part in Bamboo YogaPlay’s yoga and healing services, as well as enjoying wildlife excursions such as canopy tours, horseback riding, or hiking. Bamboo YogaPlay looks to take advantage of the Costa Rican tourism market that has experienced steady growth over the past several years, a trend which is expected to continue for the foreseeable future. Bamboo YogaPlay is also in a position to take advantage of the worldwide increase in eco-tourism, and the improved access to the Southern Zone of Costa Rica.

Bamboo YogaPlay Market Analysis

The first segment that Bamboo YogaPlay is targeting is North American Tourists. North Americans tend to travel most during their summer and winter seasons. Members of this segment have generally traveled in the past, and may have visited other ecotourism locations.

The second segment which Bamboo YogaPlay targets is European travelers. Europeans generally have longer holiday periods and wish to travel to warmer locations during their winter season.

The third segment is tourist from other countries in the Americas, which consists of countries that are in Central and South America as well as Mexico. These travelers have an above average living standard compared to the rest of their country and can afford to travel, but generally have less disposable income than the other market segments.

B2C Market Segmentation

The following tables provide information and statistics on Bamboo YogaPlay’s target market segments:

North American Tourists (US, Canada, Mexico) European Tourists Central/South Americans
Size 712,789 visitors Q1-Q3 2009, 44% of tourist arrivals to Costa Rica are from USA/Canada 187,486 visitors 712,789 visitors Q1-Q3 2009, 14% of tourist arrivals are from Europe 537,645 visitors 712,789 visitors Q1-Q3 2009, 40% of tourist arrivals are from other Americas
Demographics
Age range 18-45 18-45 18-45
Location North America Europe Central/South America
Income level $35,000 and up $31,250 and up $20,000 and up
Psychographics
Personality Curious, open minded, wants to experience new things. Optimistic and positive personality.
Values Passionate about travel; values keeping a healthy body, spirit, and mind; Treating the environment properly is important to them. Has limited time and funds to travel, so they it is important to them to have a great experience in their vacation time.
Interests Surfing, Yoga, environmental sustainability, traveling, outdoor activities
Lifestyle Is likely to have a typical full time job in the country where they live and have limited vacation time. Lives a conscious lifestyle when it comes to their body, mind, spirit and the environment around them.

International Tourist Arrivals to Costa Rica – Q1 through Q3 2009

Jan Feb March April May June July Aug Sept Total
Total International Tourists 222,664 168,164 179,772 165,352 130,536 158,972 180,792 159,025 113,083 1,478,360
North America 89,143 84,721 99,413 79,455 68,935 86,289 89,832 72,692 42,309 712,789
Central America 90,196 48,049 42,517 52,880 36,940 46,036 48,651 45,655 44,606 455,530
South America 12,838 8,906 8,884 8,482 7,249 8,192 9,794 9,566 8,204 82,115
Europe 25,729 22,676 23,987 19,830 13,325 14,395 27,577 26,196 13,771 187,486

Market Trends & Growth Patterns

While the global recession caused a decrease in tourism to Costa Rica from all around the world, the largest decrease was seen from United States residents. However, the tourist market in America is growing due to the large baby boomer generation. More than ever before, the baby boomer generations (those born between 1946-1964) are traveling overseas.[1] Tourism arrivals in Costa Rica have increased from 1.72 million in 2006 to 2.15 million in 2008 and 2.29 million in 2009. In spite of the recession, the market is expected to grow 8% per year through 2014.[2]

Throughout the three target market segments, the winter and summer season have the most traffic into Costa Rica. Winter/holiday season of December and January is the highest volume of travelers. The summer months of June, July, and August also demonstrate higher numbers of travelers.

Market Size & Potential

In the first three quarters of 2009, there were 1,478,360 international tourist arrivals in Costa Rica. Of those travelers 712,789 visitors are from North America, 187,486 are Europeans, and 537,645 are visitors from Central and South America.

28.7% of travelers from the United States express interest in visiting Costa Rica, a market of 14.2 million people.[3]

[1] Honey, Martha & David Krantz. Global Trends in Coastal Tourism. 2007. CESD

[2] “Costa Rica Tourism Report Q4 2010.” Companies and Markets. Web. July 2012.

[3] “The Potential for Costa Rica.” Costa Rica Tourism. Web. July 2012.

 

[php] previous_page_link_plus( array(‘in_same_parent’ => true, ‘order_by’ => ‘menu_order’, ‘order_2nd’ => ‘post_title’ ) ); [/php]

[php]the_title();[/php]

[php] next_page_link_plus( array(‘in_same_parent’ => true, ‘order_by’ => ‘menu_order’, ‘order_2nd’ => ‘post_title’ ) ); [/php]

Leave a Reply

Your email address will not be published. Required fields are marked *

Market Analysis

[php]the_title();[/php]

Market Segmentation Data – B2C

Segment 1 Segment 2
Brief Description Individual Seniors who may be ambulatory or non-ambulatory, with mild confusion, depression, and need for social interaction. Senior Couples who may be ambulatory or non-ambulatory, with mild confusion, depression, and need for social interaction.
Demographics
Age range 60+ 60+
Gender Male or Female Male or Female
Race Any Any
Religion Any Any
Location San Diego Area San Diego Area
Marital Status Widow/ widower or unmarried single person Married
Income level – Median income of households in San Diego is $72,963.- Living on pension or savings for retirement

– Might opt to work part-time to earn additional income.

– Some health and long term care insurance policies may cover some of the costs associated with assisted living.

– Medicaid, the joint federal and state program pay for the healthcare of older people and those with disabilities who are unable to afford these expenses.

 – Median income of households in San Diego is $72,963.- Living on pension or savings for retirement

– Might opt to work part-time to earn additional income.

– Some health and long term care insurance policies may cover some of the costs associated with assisted living.

– Medicaid, the joint federal and state program pay for the healthcare of older people and those with disabilities who are unable to afford these expenses.
Occupation Retired or may work part-time Retired or may work part-time
Education level Any Any
Family Structure Person living alone; children living in a different location Couples living alone, children based in a different location
Psychographics
Personality Financially independent senior citizens, unwilling to live independently or are unable to fully take care of themselves. Financially independent senior citizens unwilling to live independently or are unable to fully take care of themselves.
Values Elderly people requiring assistance in their daily tasks. Senior citizens looking for a friendly environment, whom do not want to stay alone and aloof. Unable to cope with their younger generation, they are more comfortable with likeminded and same age people. Elderly people requiring assistance in their daily tasks. Senior citizens looking for a friendly environment, whom do not want to stay alone and aloof. Unable to cope with their younger generation, they are more comfortable with likeminded and same age people.
Interests This may include interest in sports, music, arts and crafts or gardening, membership in clubs or social networks. This may include interest in sports, music, arts and crafts or gardening, membership in clubs or social networks.
Lifestyle – Various hobbies are a part of daily lifestyle though some do feel loss of interest in their activities.- Feeling of loss of identity.

– Senior citizens need care takers to constantly watch over them due to various reasons which could be poor health, imbalance in walking, etc.

– Options like driving or walking alone are not feasible for them.

– However, residents with restricted health conditions are not accepted

 – Various hobbies are a part of daily lifestyle though some do feel loss of interest in their activities.- Feeling of loss of identity.

– Senior citizens need care takers to constantly watch over them due to various reasons which could be poor health, imbalance in walking, etc.

– Options like driving or walking are not feasible for them.

– However, residents with restricted health conditions are not accepted
Motivations – In house care takers to assist in the daily tasks.- Home like environment with caretakers available 24 hours.

– Cost effective when compared to a home healthcare facility.

– These facilities are safer for elderly individuals than living alone in non guarded houses.

– The other facility members become like a family, often substituting for lack of family relationships.

– Housekeeping services are offered at these facilities leading to a safer and easier life.

– Assisted living facility gives flexibility to the people to keep their own schedule, which is a challenge with home healthcare nurses.

 – In house care takers to assist in the daily tasks.- Home like environment with caretakers available 24 hours.

– Cost effective when compared to a home healthcare facility.

– These facilities are safer for elderly individuals than living alone in non guarded houses.

– The other facility members become like a family, often substituting for lack of family relationships.

– Housekeeping services are offered at these facilities leading to a safer and easier life.

– Assisted living facility gives flexibility to the people to keep their own schedule, which is a challenge with home healthcare nurses.
Attitudes towards your company – Likes more information about the social environment and the quality of care takers in such facilities.- Likes to talk to the care takers before deciding on a facility

– Likes more information on what is included in the basic rate and how much other services will cost.

 – Likes more information about the social environment and the quality of care takers in such facilities.- Likes to talk to the care takers before deciding on a facility

– Likes more information on what is included in the basic rate and how much other services will cost.

Market Trends & Growth Patterns[1]

The total estimated target market is 272,220 elderly people in San Diego. It has grown by 17.34% from 2000 to 2010. The female population over the age of 70 years account for as much as 58% (157,711) of the total senior population of the region, resulting in being the larger market for the residential care facilities. Senior male individuals form the remaining 42% (114,509) of the target market.

Vintage Home and Residential Care Target Market

The Non-Hispanic white ethnicity forms more than 70% of the total market segment in San Diego, with the Hispanic community being the second largest contributor followed by Asians and Pacific Islanders. The graph below highlights the population distribution in San Diego based on race and ethnicity:

Vintage Home and Residential Care Market Ethnicity

Even though the non-Hispanic whites are the largest contributors to the target market, they have grown only by 3.54% over the last decade. The Hispanic community and the Asian community has grown by over 61.74% and 105.85% respectively during the same time and seem to be more promising segments in the future.

With the median income of around $72,000 per annum (2009) in San Diego, Vintages pricing at $3,500-$5,000 is competitive. The ideal target market would be in a higher income group. Since the middle income group earns an annual income of around $72,000, this target market could still be price sensitive[2].

At the expected price point, the customers would be looking for a service oriented facility with excellent support from the care takers. Also, a variety of services covered in the base price would make a difference in the decision making process of the target market.

Market Size and Potential

A typical assisted facility would cover of all the meals, housekeeping activities as well as care takers to assist in day to day tasks. Having taken care of all the basic needs, an assisted living facility is more affordable when compared to keeping an in-house nurse or healthcare facility.

San Diego is estimated to have around 272,220 residents over the age of 70 years in 2009 — 2010 spread across the region. The current market size has grown over at 17.34% over a period of 10 years from 2000 to 2010. The future though definitely looks more attractive with the estimated growth of 157% till 2050. The graph below highlights the expected population of residents who are over 70 years of age in the San Diego region:

Vintage Home and Residential Care Potential Market

The non-Hispanic market will remain the main contributor with the expected growth of 101% over a period of four decades while the Hispanic market is estimated to grow at only 40%.

Currently Caucasians are the major contributors to the assisted living facility market in San Diego while in 2050, Asian and Pacific Islanders are expected to grow the most. The contribution of Caucasians in absolute number would however, will still remain the highest.

[1] https://profilewarehouse.sandag.org

[2] https://profilewarehouse.sandag.org

[php] previous_page_link_plus( array(‘in_same_parent’ => true, ‘order_by’ => ‘menu_order’, ‘order_2nd’ => ‘post_title’ ) ); [/php]

[php]the_title();[/php]

[php] next_page_link_plus( array(‘in_same_parent’ => true, ‘order_by’ => ‘menu_order’, ‘order_2nd’ => ‘post_title’ ) ); [/php]

Leave a Reply

Your email address will not be published. Required fields are marked *

Market Analysis

[php]the_title();[/php]

Market Segmentation

The market segmentation for Go Green Yoga Mats 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[1] and are looking for health benefits and stress reduction. Go Green Yoga Mats has something to offer all yoga students whether they are concerned with website security and accessibility or focused on getting high quality eco-friendly products.
Business Plan Market Analysis

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 arried 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 an eco-friendly product Stress reduction, Weight loss, Feeling young/sexy 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 Easy site navigation, Fast shipping, Testimonials, Ability to leave reviews Good customer service (preferably phone), Fast shipping, Website security, Easy site to navigate Easy site navigation, Fast shipping, Good customer service, Website security Easy site navigation, Fast shipping, Testimonials, Ability to leave reviews
What they think about Go Green Yoga Mats Simplicity & convenience of website & shipping. Likes green-ness of GGYM. Likes yoga mats with graphics. May be unsatisfied with selection Appreciates website security features, return policy, and all the yoga info on the site. Might be weary of buying from a new company. Simplicity and convenience of website & shipping. Appreciates website security, return policy, and the yoga info on the site. Simplicity and convenience of website & shipping policies. Likes green-ness of the company. Appreciates yoga info on site.

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.[2]

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.[3]

Green

Mintel forecasts that there will be a 19% growth for green products by 2013.[4] 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 womans shopping carts today, 25% of them are environmentally friendly.[5] 30% of American consumers are willing to pay up to a 20% premium on clean, green products over non-sustainable alternatives.[6]

Online

Consumers are spending more time investigating what brands are doing before buying products.[7] Currently approximately 63% of online shoppers are women.[8] These positive trends in online shopping and green products suggest strong market growth for Go Green Yoga Mats.

Market Size and Potential

Women

72% of yoga practitioners are women who do the main purchasing for the household.

Yoga

Go Green Yoga Mats market size consists of the entire population of yoga practitioners, approximately 15.8 million people.[9]

Green

The green movement is continuing on the rise, growing around 5% per year.[10]

Online

In todays market place more people are buying online, which is currently averaging around 68 million online shoppers.[11] Go Green Yoga Mats has a large market size of individuals that shop online for green yoga products.
 

[1] https://www.yogajournal.com/advertise/press_releases/10

[2] https://www.census.gov/popest/national/asrh/NC-EST2008/NC-EST2008-01.xls

[3] https://www.yogajournal.com/advertise/press_releases/10

[4] https://www.consumeraffairs.com/news04/2009/02/recession_greens.html

[5] https://www.thedailygreen.com/living-green/blogs/green-products-services/women-marketing-55051206#ixzz0lrd3nW1H

[6] https://www.goodandgreen.biz/

[7] https://www.changeboard.com/resources/article/2929/10-green-trends-for-consumers-in-2009-2010/

[8] https://www.internetbasedmoms.com/net_selling.htm

[9] https://www.snewsnet.com/cgi-bin/snews/14805.html

[10] https://www.forbes.com/2007/07/02/environment-economy-jobs-biz_cx_bw_0703green_greenjobs.html

[11] https://www.census.gov/prod/2009pubs/10statab/health.pdf

 

[php] previous_page_link_plus( array(‘in_same_parent’ => true, ‘order_by’ => ‘menu_order’, ‘order_2nd’ => ‘post_title’ ) ); [/php]

[php]the_title();[/php]

[php] next_page_link_plus( array(‘in_same_parent’ => true, ‘order_by’ => ‘menu_order’, ‘order_2nd’ => ‘post_title’ ) ); [/php]

Leave a Reply

Your email address will not be published. Required fields are marked *

What is in a Business Plan: Market Analysis (Part 5 of 11)

Time For Completion: Approximately 20-30 hours

A Market Analysis

is conducted to define and determine the attractiveness of a given market, and to understand its evolving opportunities and threats as they relate to the strength and weaknesses of a particular business.

The focus of this section should be on your target market or the people you intend to sell your products/services to. This can include individual customers, know as business to customer (B2C), or other businesses, known as business to business (B2B). So, in a way, the Market Analysis is the ground work for your company’s plan of attack.

What’s in it?

A market analysis summarizes the size and potential of your target market, current market trends, and gives demographic information about your target market.

The demographic information you want to collect about your target market will vary depending on if your company is B2B or B2C. B2Bs should focus on a target region, customers industry and size of companies, while B2Cs should focus on their customers location, personal demographics (age, gender, educational background) as well as psychographic characteristics that define why they are interested in your product.

This section should include a table that lists all of the potential market segments that you will target along with all of the information you collected in your research.

After you have studied your potential customers you should look into past and future trends of the market, keeping in mind factors like price sensitivity, demand for variety, level of emphasis on service and support your target market desires, and any regional trends that affect only the members of your target market in that specific area.

Why its Important

Understanding who will buy your product is an important foundational step. By understanding who your customers are and what motivates them to buy, you will be able to create an informed, effective marketing strategy.

Most of this information will have to be found internally by your firm by doing research of your past customers. If you are a new firm who doesn’t have any history yet, try finding the answers to these questions by contacting a firm that is similar to yours, or a trade association related to your industry.

The next post will describe how to create an Industry Analysis. Remember, you can take a look at one of our sample business plans at any time.
 

Whether you have a question about your Market Analysis or you’d like to discuss our business plan writing services, feel free to contact us for a free consultation!
Tagged

Leave a Reply

Your email address will not be published. Required fields are marked *