Understanding US Yoga Industry:
Currently Yoga is a $ 5.7 Billion industry in US. Yoga came to US in mid 19th Century, and was made popular by Swami Vivekanand during his World Parliament of Religions. The Yoga got much needed popularity from Margaret Woodrow Wilson. Initially Yoga was popular because of its primary elements, and then moved towards Spiritual aspects. Many popular books and journals have been written on Yoga that gained lots of popularity. Yoga also received push from many celebrities like The Beatles etc, who showed their keen interest. Yoga was commercialized by like of Bikram Choudhury and Tara Stiles. Today people like Bikram churn out around $ 5 Million through his training centres where as Tara Stiles is working with brands like Nissan and launching Ipad Apps for yoga.
Branding Yoga and Value Creation
* As per tradition, the Yoga has been considered as an activity for quieting the mind, transcending the physical self and attaining communion with the divine. It was considered as an art to be passed from one generation to another generation from teacher to its disciple. Hence Yoga has never been seen as a brand or from commercial aspect of it. * When Yoga came to US, it was a new concept. There were hardly any players in the market to enchase this tradition. Bikram was one of the pioneers who not only made traditional Yoga more contemporary E.g. Creating “Torture Chambers” by conducting Yoga at 105 deg Fahrenheit. Looking at the popularity various books were published E.g. “Bikrams Beginning Yoga Class”. Books played a very important role in creating brand awareness of Yoga leading to opening of Yoga schools like “Bikram’s Yoga School of India”. Bikram made the brand” Bikram Yoga” such a strong that he was charging $7000 in 2011 from $20 in 1971. This helped Bikram to create $ 5 Million brand “Bikram Yoga” * On other hand Stiles created brand Yoga for mass market. Stiler used media like Youtube and created Ipad Apps to appeal...
Please join StudyMode to read the full document