I’m studying and need help with a Business question to help me learn.
MLA Format, 3 full Pages
Prompt: You should identify the specific consumer behavior issues that are relevant to the marketing problem you have identified(Below). It is important to be quite specific in your problem definition. E.g. are the issues cognitive decision-making issues, issues related to consumer attitudes, or to perceptions.
- Industry Analysis: top brands + why
- Different shopping habits between men and women for athleticwear
- Consumer demographics of athletic wear – for top 3 brands listed in part #1
- Problems with branding they’ve encountered in the past
- Steps the brands have taken to balance out the inequality
- Did this work or not work?
The Marketing Problem:
- Athletic wear growing industry, averaging 5.1% YOY growth
- Existing traditional demographic breakdowns, but shifting with rise in fitness conscious consumers and female participation
- Men user segment currently capture around 60% of the total athletic wear market, but number of customers growing only at 4.6% (source)
- Women are the highest growing demographic within athletic wear
- 5.6% YOY growth, higher than total industry growth
- Dominating yoga and wellness space: 85% increase in total number of yoga products availble on market