Branding yoga
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Deals with the popularity of yoga as a brand in the US
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Branding yoga
- 10. Bikram Choudhary
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- 35. Business Plan Copyrights & patents to strengthen brand Strong brand image using unique method Chaging a fee since inception Cease-and-desist notice to hundreds Fines starting from $150,000 Unique combination of exercises and ambience patented Helped in rapid growth & recognition of yoga as a thing having value
- 36. Business Plan “When in Rome, I must do as the Romans do. When in America, make Bikram copyright & trademark” -Bikram Choudhary Strengthened brand image Increased market share Prevented competitors from taking advantage of strong brand image
- 37. Business Plan Charged huge fee, $7000 for teacher training • Helped the brand to grow faster • Huge margin of profit • Helped spread the brand image to more parts, hence increased the market
- 38. Business Plan Unique value proposition • Difficult to copy by competitors • Tailored according to the market needs
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- 50. Business Plan “The aim is to get people excited to yoga” -Tara Stiles Made yoga fun, accessible. Added music to yoga Removed Sanskrit words & Hinduism Yoga meant only exercise Aimed to attract youth & people desiring simplicity in yoga
- 51. Business Plan Marketing through social media like Facebook and Youtube Helped reach a wider audience effectively Reduced Marketing cost & attracted youth too Strong social media image created
- 52. Business Plan Did not patent any process • Wanted the free flow of information & expansion of yoga
- 55. Why ?
- 56. Attracted youth hence target customer segment increased More attractive & relevant More flexible Added new features like heated room, music to adjust to the US More value creation
- 57. “Practicing yoga would make relationships better, and it centres and grounds you” -Tara Stiles
- 58. People like Bikram Choudhary tried to sell yoga as a brand(Bikram Yoga)
- 59. Use of trademarks, copyrights and patents to protect brand image
- 60. Huge money spend on marketing due to the capitalist economy
- 61. Efforts to create unique brand and refraining from traditional & Hindu methodology(Strala Yoga)
- 62. Using mass communication means like youtube videos, CD’s to reach and attract more audience
- 63. These slides were created by Vatsal Sharma, IIT Kanpur, as part of an internship done under the guidance of Prof. Sameer Mathur (www.IIMInternship.com)