The Elysian Fashion House is a renowned luxury fashion brand known for its high-end clothing, accessories and footwear. The company has a strong presence in the luxury market and aims to expand its market share by targeting new customer segments. Identify the key research objectives (as seen below) presented in the brand and explain their significance in the luxury fashion industry. 

Identify target consumer segments for Elysian 

Understand consumer preferences and purchasing behavior in the luxury fashion market 

Analyze market trends and competitors' strategies to gain a competitive advantage. 

Develop effective buying strategies based on consumer insights.