Have you started a clothing line? But are finding issues with generating sales. Well your not alone. Many start up clothing line suffer from the same issue. Unfortunately, many clothing lines make the common mistake of being way to general with their target market.
What is a Target Audience?
A target audience is a select group of potential or current consumers, which a business decides to aim it's marketing and advertising strategies at in order to sell a product or service.
The difference between identifying your market and finding your market?
1. Identifying your market - take place before you produced your product.
2. Finding your market- take place after you produced your product.
What is a Market?
A market is a group of people that buy and engage with a particular product and service.
Example: Street Wear — the streetwear market would be considered to be a General Market. is a USD 173399.5 million dollar industry.
Unfortunately, this is where most start up clothing line stop. Resulting in them becoming one of the many clothing lines. Although general market typically have the larger numbers it can be extremely competitive and difficult in obtaining a profitable market share size.
What we recommend is narrowing your target market through Market Segmentation.
What is Market segmentation?
Are groups of markets that are categorized based on commonalities and similarities
Example: Street Wear—A street wear line that caters to the rap culture.
How to use market segmentation?
There are four different categories in market segmentation.
1. Demographic Segment
What does your customer look like?
What is their status and income?
2. Geographic Segment
Where does your customer live?
3. Psychographic Segment
What are your customers' needs?
Beliefs, personality, and lifestyle?
4. Behavioral
What are the spending habits of your customers?
Did they think about quality?
Did they buy over the course of a year or multiple times a month?
Identifying your market segments?
1. Primary Market - Use of only 1 of the market segment categories.
An example of a primary market would be as follows.
General Market:
Rap Inspired Streetwear
Primary Market:
Gender: Males
Age: 18 to 24
Income: $24-$36,000 per year
2. Secondary Market – Use of 2 market segment categories.
An example of a secondary market would be as follows.
General Market:
Rap Inspired Streetwear
Secondary Market:
Gender: Males
Age: 18 to 24
Income: $24-$36,000 per year
Location: Live in Atlanta
3. Macro Market - Use of 3 market segment categories.
An example of a macro market would be as follows.
General Market:
Rap Inspired Streetwear
Secondary Market:
Gender: Males
Age: 18 to 24
Income: $24-$36,000 per year
Location: Live in Atlanta
Listens to: The Amigos, Lucifer, the Baby, and the Little Baby.
4. Micro Market - Use of ALL 4 market segment categories.
An example of a micro market would be as follows.
General Market:
Rap Inspired Streetwear
Secondary Market:
Gender: Males
Age: 18 to 24
Income: $24-$36,000 per year
Location: Live in Atlanta
Attends: At least two concerts per year for a totaling of $300-$400
Willing to buy expensive if trending
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