what is market segmentation?

A market segment is a group of people who share one or more common characteristics, lumped together for marketing purposes. Each market segment is unique, and marketers use various criteria to create a target market for their product or service. Fashion industry segmentation allows you to compare brands, rather than products, and potentially identify what kind of value proposition is at the centre of your business model. Price and benefits, in particular, can be compared easily by breaking them down in these 5 statements: 

Haute Couture

began in the 19th century, haute couture translates as high sewing. where standards and quality are above all else. to be classified as a bona fine Haute couturier a fashion house must create made-to-order garments for private. some of the Haute couturiers are; Chanel, Dior, Valentino, Giorgio Armani, and a few more.

Luxury Fashion

Luxury is not easy to define. the high quality and creative ready-to-wear is identified as a luxury symbol. And it is, of course, from a brand and business point of view, addressed to a high consumer range. Luxury is research, the chance to experience new routes, to find new and not predictable or already seen solutions. experimentations are luxury.
craftsmanship is luxury. a product is luxe when its handmade, tailored for few. luxury meaning exclusiveness. some of the luxury brands are Louise Vuitton, Hermes, Gucci, Prada and Burberry.

Middle markets

Bridge brands originated in the 70s were a gap in the market was identified. high quality garments without the price tag associated with a glorifies designer or designer name. for those who may not be able to afford luxury brands but still wanting to purchase items that are of high-quality and a sense of craftsmanship. brand themselves as prestige to the masses as consumers with a low budget still view luxury as something they are entitled too. some of them are whistles, Ted baker, Sandro, Reiss, Coach.

Mass Market

High street refers to a chain of brands available in high streets nation wide in most major cities and towns, some also international such as Zara and Gap. These brands which produce for the masses, readily available for anyone and everyone who is on a limited budget but still wants to keep in trend. high street brands often pick up on the catwalk which are usually crowd pleasing accessible trends and water it down for them to be made at a much cheaper price.

Value markets

The value market can at most be late to big trends and hit them at their peak which consequently makes them undesirable. with a low budget trends tend to look cheap therefore they sell best through their volume pieces including the like of vests, tops, leggings and jumpers; essential items that the mass audience are most commonly purchasing. “all economical fashion is fast fashion, but not all fashion is economical”.

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