Research On Marketing Strategy Of Yoga XG

With the increasing improvement of people’s living standards,China’s Engel Coefficient is declining,which means that the proportion of food expenditure in the total household expenditure of Chinese people is on the decline.Since the founding of People’s Republic of China,the government has gradually attached more and more importance to China sports industry and the physical fitness of Chinese people.Yoga was introduced into China from India at the end of the 20 th century,its diversified forms of fitness have been highly recognized by the majority of consumers,and the development of the yoga industry is growing very fast.Yoga studios,as the industry’s main form of promotion,have sprung up overnight.However,due to the lack of unified supervision in the yoga industry,and the lack of qualified professional managers,some problems gradually appeared in the development process: such as the poor teaching of some yoga coaches,single marketing means,distinct off-season rate/peak-season rate,and low profit and so on.Combined with related research literature,this paper aims to take XG Yoga Studio as an example to identify the external and internal environment,analyze the current problems and propose corresponding marketing strategy.In chapter 1,the paper gives the theoretical background,elaborated the related marketing theories,such as PEST,Five Force Analysis,SWOT,laid a solid foundation.In chapter 2 and chapter 3,the paper analyzes the internal and external environment of XG Yoga studio,identifying the external environment in terms of macroenvironment,industrial environment,and its consumers,and as for identifying the internal environment;the paper introduces its current marketing strategy,analyzes the current situation with SWOT,and then proposes the existing problems.In chapter 4,the paper optimizes its marketing strategy in terms of products,pricing,place,promotion and guarantee system.The main conclusions of this paper are as follows: First,although XG yoga studio has the advantages of geographical location,faculty,environment and service,it has many disadvantages,such as lack of funds,insufficient personnel,lack of customer attraction,low rate of card renewal,single promotion channel and immature management experience;Second,XG yoga studio is faced with the opportunities provided by the continuous growth of Wuhan’s social economy and the improvement of residents’ income.At the same time,it also faces the threat of increasingly fierce competition within the industry,more competitive projects outside the industry and a shortage of talents;Third,in view of the existing problems XG yoga studio,such as low profit level,lack of professional yoga teachers,clear off-seasons and peak-seasons,serious loss of members,low science and technology level of management and operation,and unfeatured courses,this paper optimizes the marketing strategies and put forward suggestions: Product strategies include: the development of main courses,introduction of course Pilates,open up classes for those accompanied children,children’s yoga class and parent-child yoga;Pricing strategies include: differential pricing for different customer groups,courses,coaches and consumption periods;Place strategies include: cooperation with cross-border enterprises,cooperation with gyms and sports training institutions within the industry,responsibility system according to regions,investment promotion by individual agents,and promotion of yoga in the business district near the office buildings;Promotion strategy includes experiential-consumption promotion,advertisements and propaganda,price promotion;The strategies of the guarantee system include: optimizing the management level,paying attention to the training of core yoga coaches,establishing the incentive system for yoga coaches and optimizing the organizational structure.