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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

 


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