Scope of Work
Client: Lighthouse Yoga
Focus of Team (if applicable): Marketing, Research and Plan
Team name: Yogimarketers
Members: Anibal Ortega, Kevin Lew, Mason Mallark, Nathan Hawthorne, Princess Grace
Mangudadatu, Sireethorn Boonyanuwat
Team Mission:
Our goal is to conduct market research, create a marketing plan, provide Pro-forma financial
statements, and to plan for the successful launch of a brick and mortar yoga studio in the Lents
neighborhood of SE Portland. Our team will achieve this by doing a market analysis of similar
yoga studios in Portland, OR. We will also be collaborating with a secondary research team
focused on benchmarking and HR to create a well-rounded and detailed plan for the operational
success of the brick and mortar studio.
Problem Definition:
Lighthouse Yoga has envisioned what they want to provide in their yoga studio and what their
target audience is, but does not have a marketing, financial, or operational plan in place. Below is
a list of challenges and tasks that we have identified:
● Costs of yoga are undefined to the general public / perception of high cost.
● Defining a target market for advertising efforts and profitability.
● Defining the type of revenue model (fixed/variable).
● Define operational structure - schedules, types of sessions, service model.
● Finding ways to market to the community as well as how to utilize social media
marketing.
● Determine start-up costs and financial assumptions.
● Encouraging men to sign up for yoga classes is a goal, but the male perception of yoga
may be a tough problem to overcome.
Vision and Goals:
Long term:
● Encourage a business/local culture of diversity and community
● Marketing and special services
● Connect with and provide youth and underprivileged yoga programs
Short term:
● Financial sustainability
● Define a target audience for initial opening
● Establish a social media and Google Local presence for the business.
● Run targeted marketing campaigns that bring in customers.
● Have a structured pricing plan and schedule structure for the business.
Project Components:
1. Current evaluation of the business and services
1. Review current documentation and ideas from Rebecca pertaining to start-up
plans.
2. Review any prospective relationships with outside organizations.
3. Review the services and products to be offered.
2. Industry Environment Analysis to understand external pressures
1. Summarize client’s industry.
2. Competition Analysis to identify strategic positioning, channels, and partnerships
3. Conduct general research on industry trends (growth, employment, funding,
revenues, etc.) on the client’s industry. The industry consists of sellers of products
or services.
4. Conduct a PESTEL analysis. This includes understanding and describing the
political, economic, social, technological, environmental, and legal trends (when
applicable) that most impact how the client operates and competes.
5. Perform a Five Forces analysis that considers how powerful buyers, suppliers,
competitors, potential entrants, and the makers of substitute products are in the
client’s industry. Ultimately, this analysis will enable understanding of the key
competitive threats that must be considered by the client.
6. Identify key opportunities and threats that can be observed in the macro
environment and the industry where the client competes based on the above
analysis.
7. Create competitive positioning table to visualize differentiations and strategize.
3. Market Research
Use of secondary and primary research to understand the client’s market (potential customers).
1. Summary of key trends in yoga market
2. Identifying demographic, geographic, market, and psychographic segmentations
through in-person surveys or interviews to understand customer profiles.
3. Determine client’s value proposition
4. Describe the client's key customer profile and identify certain segments to target.
5. Describe desired Lighthouse Yoga products and services offering.
6. Describe market demand and volume in this industry.
7. Describe and identify pricing strategy, marketing and brand positioning
opportunities.
8. Describe channels (Place) for interaction with customers
● Direct and indirect offering of products and services.
● Social Media and Lighthouse Yoga website.
● Content marketing and SEO (Search Engine Optimization)
4. Market Plan
1. Provide branding recommendations that fit the company and its community
2. Define goals for marketing campaigns that the client plans to undertake.
3. Provide specific promotional plan and advertising materials that are best suited
for target market.
4. Describe social media campaign strategy that is best suited for target market.
5. Describe website redesign strategy
6. Describe other marketing efforts in the community that may encourage
engagement and new customers to come in for yoga.
5. Client Operations
1. Identify and map key operational requirements (e.g., sales support, equipment,
website hosting, etc.) based on the client’s suggested offerings or initiatives and
related activities.
2. Website optimization for Lighthouse Yoga for online traffic
3. List all organizational requirements that are associated with recommendations.
4. Identify the resources and capabilities needed
5. Create a statement of the goals and objectives of the system
6. Financial Analysis for proposed start-up plan
1. Determine best formula for revenue that aligns with the goals of the business
(fixed or variable per visit).
2. Balance Sheet including startup costs.
3. Pro-forma statement of cash-flows, income statement, and Break-even analysis
4. Financial Assumptions
5. Sales Projections