What are the main market segments in the fashion industry?1 pointWomenswear, menswear, kidswear, formalwear, and sportswearLuxury brands, fashion designers, premium brands, and fast fashion retailersThose identified by using price as the variable to segment the market
Question
What are the main market segments in the fashion industry?1 pointWomenswear, menswear, kidswear, formalwear, and sportswearLuxury brands, fashion designers, premium brands, and fast fashion retailersThose identified by using price as the variable to segment the market
Solution
The main market segments in the fashion industry can be categorized in several ways.
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Based on the type of wear: This includes segments like Womenswear, Menswear, Kidswear, Formalwear, and Sportswear. These categories are based on the type of clothing and the target demographic.
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Based on the brand positioning: This includes Luxury brands, Fashion designers, Premium brands, and Fast fashion retailers. These categories are based on the brand's positioning in the market, their pricing, and their target audience.
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Based on price: This is another way to segment the market, where the segments are identified using price as the variable. This could range from budget to mid-range to luxury pricing.
Each of these segments caters to a different set of customers with different needs and preferences.
Similar Questions
Explain the term ‘market segments’.
If you were a global designer of women’s shoes, your target market segment would be –Question 9Answera.None of the Aboveb.Demographic Segmentationc.Behavioural Segmentationd.Geographic Segmentatione.All of the Above
Which level of market segmentation involves tailoring products to suit individual customers?Mass marketing.Segment marketing.Niche marketing.Micro-marketing
What is/are the main purpose of segmenting a market?Select one:a.All of themb.More market orientedc.Dividing up potential market for a product into groupsd.Meet customers' needs
Market segmentation refers toQuestion 9Answera.Grouping the organization into different silosb.Divide large heterogeneity market into smaller groups with homogeneity characteristicsc.Systematic and unbiased approach to understand the marketd.Designing products to meet the selected segment of the customers
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