Question

Given the three types of consumer market in the interview, fast fashion, bifurcation, hyper-luxury markets, how these markets impact on consumers' well-being or happiness?

Answer 1

The three types of the consumer market and there impact on consumers well-being or happiness is described as follows.
The first market describe here is fast fashion generally this type of consumer market is seen in the electronic goods and the various dresses which also include the accessories like belt shoes wallet apparels and other accessories this market is very dynamic because it covers almost all the things which are famous among the youth and this is the most creative and innovative market as this market cover lots of things which provide a wide range of variety and quality to the consumers and it also describes the way of living and the status of the consumers, therefore, the maximum spending portion of the consumer's income is totally spent on the fashionable goods.
Next to the consumer market is described here is bifurcation it means that the consumer market is based on the categories and the categories are on the basis of deep market research based on the interest of the consumer the culture of the market the positioning of the product the choice and preferences of the consumer age factor in a broad sense all the demographic factors which are necessary to enhance the sale of the product in the consumer market, therefore, the consumer's well-being and their happiness depend on the desirable things which are available at quality bases but at a very reasonable price.
3rd but the most important factor of the consumer market is hyper luxury markets these are often called as customising market where all the luxury items which target to cover 1% population of the globe because under this market all the goods are very expensive and the social symbol status positioning and the luxury attitude of the consumer depend on the brand just most valuable in the world they are purchasing and they used t, therefore,e this market is very important for the consumer lifestyle and their well-being or happiness.