A/ ASSIGNMENT RECAP

●    Provide an overview of the allocated women's fashion market segment.

●    Analyze the current market environment.

●    Identify and highlight 2 or 3 key brands in this segment.

●    Explore demographics, psychographics, and lifestyle of consumers in the segment.

●    Create three consumer profiles representing typical customers of the key brands.

●    Include detailed information about demographics, psychographics, lifestyle, and activities.

Suggested structure:

I. Market segment introduction

II. Market environment overview

1. Brand no.1

2. Brand no.2

3. Brand no.3 (optional)

IV. Customer profiles

1. Customer 1

2. Customer 2

3. Customer 3

B/ KEY TERM DEFINITION

1. Market Segment: A specific and distinct group of consumers within the broader market, sharing similar characteristics or needs.

2. Market Environment: The external factors and conditions that affect the market and its participants, including competitors, economic trends, and regulatory factors.

3. Key Brands: Prominent companies or labels that play a significant role in the target market segment.

4. Consumer Insights: Information and data that provide a deep understanding of consumer behaviors, preferences, and motivations within the market.

5. Demographics: Quantifiable characteristics of a population, such as age, gender, income, and education.

6. Psychographics: Qualitative characteristics related to consumer attitudes, values, interests, and lifestyle choices.

7. Lifestyle: The way individuals live, including their daily activities, interests, and behaviors.

8. Consumer Profiles: Detailed descriptions of representative consumers in the market segment, typically based on demographics, psychographics, and lifestyle.

C/ DETAILED GUIDELINE

I. Market segment introduction

Choose 1 market segment (luxury, mid-end, mass market) to analyze.

Provide an overview of the market segment,  key characteristics, major market, revenue, list of some top brands, what is this segment like in Vietnam,...

Example:

Luxury fashion industry segments include premium, high-end, prêt-à-porter, and haute couture, with ready-to-wear. Limited social class influence creates a revolving door for brands seeking luxury shoppers' support (Vecchi and Buckley 2016).

The luxury fashion market's revenue rebounded from a dip in 2020 to reach around 108.4 billion USD in 2021, a significant increase from 2020. According to the Statista Consumer Market Outlook, the market would produce revenue of 132,8 billion USD by 2025 (Statista 2022).

Luxury customers primarily come from Russia, China, and the Middle East. LVMH, Kering, and Richemont dominate the ready-to wear industry, while Louis Vuitton dominates the luxury fashion market. Other brands include Hermes, Gucci, and Prada (Handley 2018).

Vietnam's personal luxury goods market reached $976 million in 2021, projected to grow by 6.67% annually, with luxury brands seeking entry due to its expanding retail market and lower rents (Nguyen 2022).