Segmentation

The importance of market segmentation is, it makes it easier to focus resources on reaching
and marketing efforts the most valuable audiences and achieving business goals.

It will allow us to get to know our customers identify what is needed in our market segment
and to determine how we can give best service to our customers. 

Four based of market segmentation,

 Demographic segmentation: This helps us to divide market based on age, gender, income,
religion, family makeup and education.
 Psychographic segmentation: It helps us to read the mind of the customers. As how can
we reach to them and what do they want.
 Behavioral segmentation: It helps to divide people in a group who have specific
behavioral pattern. It is basically depending on customer’s previous purchase.
 Geographic segmentation: It based on customers region or their geographical division.
It’s similar as tracking customers.

As a fashion brand our industry will consist of four level:
1. The production of raw materials,
2. Principally fibers and textiles but also leather and fur,
3. The production of fashion goods by the designers, the manufacturers, the contractors,
and the other retail sales, And
4. Various forms of advertising and promotion.

Our fashion brand will be segmented in variously.

1) Price Based: Where price will be different by size measurement and on colors. We will give
the reasonable price so that all groups of people can afford.
2) Luxury: It means something special and different from others.
a. Supreme Luxury: In this section a brand uses their high-quality
handcrafts, precious metals and make most expensive.
b. Lifestyle luxury: Here a brand makes their product as limited
edition, high quality and very fashionable.
c. Accessible luxury: Here products will make for high fashion
content with a good price or quality ratio.
d. Masstige luxury: Here the price of products as ordinary goods
while attempting to emulate the style, communication aesthetics
and distribution visibility of luxury goods.
3) Customer segmentation: customer segmentation means dividing customers in different
groups,
a. Age
b. Gender
c. Geographical location
d. Psychographic behavior