Section I - Multiple Choice (3 Viewers)

[AzzA0608]

Re: Business Studies Section I: Multiple Choice

Q1) Is niche market....



enuf said.

 

[bench]

Re: General Thoughts: Business Studies

"An Australian business is negotiating an order with a new overseas customer"

Pretty sure thats exporting.

^ +1

kenshinx77, you made the careless mistake, unlucky buddy.

 

[c-rudd]

Re: Business Studies Section I: Multiple Choice

noooooooooooo ukrainian pride its NICHE as consumer is defined as people and households who purchase and use products or something
so sorry 18/20

 

[c-rudd]

Re: General Thoughts: Business Studies

^ +1

kenshinx77, you made the careless mistake, unlucky buddy.

so whats the answer for the most risk in that question?
&& whats the answer to the ETHICAL practice

 

[Pieguyfly]

Re: General Thoughts: Business Studies

so whats the answer for the most risk in that question?
&& whats the answer to the ETHICAL practice

Open account. F'sho. If you disagree i will kill you.

 

[bayan92]

Re: General Thoughts: Business Studies

No 11 is wrong. The bussiness is ordering from an overseas business. If the have an open account then there'll be little risk for the aus business as they'll receive the order beore the money
If they pay in advance there is a risk of the good not coming hehhe =) careles mistake buddy, unlucky ^^

GET YOUR FACTS RIGHT MATE

Read the question again before you start making stupid assumptions and trying to put people down!

Looks like you made the careless mistake, unlucky buddy.

 

[2pmhottest]

Re: Business Studies Section I: Multiple Choice

I had a vision.............................................

and ....................
the answer for number 1 is............................

E

 

[c-rudd]

Re: General Thoughts: Business Studies

i agree, its what i put XD

 

[stelio1200]

Re: Business Studies Section I: Multiple Choice

Just to get some facts straight

Question 1 is highly disputable, both answers seem to have as much credibility behind them. Here are some facts from the textbook.

Consumer Market: The consumer market consists of buyers who purchase goods and services for personal use. As you purchase your clothes, sound systems, and food, you are a buyer in the consumer market.

Niche Markets: Niche markets consist of buyers with specialised needs. For example, very few buyers have a need for a first class ticket on the proposed Virgin space flight. Obviously it is very expensive. A niche market is a narrowly defined group of potential customers. The major businesses in that market are either not providing a product to meet that specialist need or not doing it very well. A cleaning company, for example, that specializes in just the cleaning of blinds may develop an expertise in that area that locks out competitors because they cannot match the service of the specialist business. The great advantage of establishing a niche market is that large competitors are not interested in the market and there is no real competition

I believe the answer to be consumer, in the end, who really cares, stop cutting each other down.

The question on open accounts, i think this definition pretty much demonstrates why it is the right answer

Open account: An open account means an invoice will be sent with the goods and payment made later.

i.e this means that the business is highly susceptible to risk as it may not receive the payment.

good luck with the rest of your exams

 

[00iCon]

Re: General Thoughts: Business Studies

loved it! it was quick for the bits i knew and it contained bits i had no idea about like: consumer orientation, and social responsibility (in the report) and the Market research process (in Q28.)
ALSO NO ROLES OF MAMAGEMENT :angry:
so maybe i didn't love it, im guessing i got 80-85 raw

 

[00iCon]

Re: Business Studies Section I: Multiple Choice

Just to get some facts straight

Question 1 is highly disputable, both answers seem to have as much credibility behind them. Here are some facts from the textbook.

Consumer Market: The consumer market consists of buyers who purchase goods and services for personal use. As you purchase your clothes, sound systems, and food, you are a buyer in the consumer market.

Niche Markets: Niche markets consist of buyers with specialised needs. For example, very few buyers have a need for a first class ticket on the proposed Virgin space flight. Obviously it is very expensive. A niche market is a narrowly defined group of potential customers. The major businesses in that market are either not providing a product to meet that specialist need or not doing it very well. A cleaning company, for example, that specializes in just the cleaning of blinds may develop an expertise in that area that locks out competitors because they cannot match the service of the specialist business. The great advantage of establishing a niche market is that large competitors are not interested in the market and there is no real competition

I believe the answer to be consumer, in the end, who really cares, stop cutting each other down.

The question on open accounts, i think this definition pretty much demonstrates why it is the right answer

Open account: An open account means an invoice will be sent with the goods and payment made later.

i.e this means that the business is highly susceptible to risk as it may not receive the payment.

good luck with the rest of your exams

I thought niches would rather come under objectives or something, but if we're lucky, they'll mark both right!

 

[wavecrush91]

Re: Business Studies Section I: Multiple Choice

I do agree with this answer. Although i answered c. Lol! Must have been a lapse of judgement when i answered that question. I think i read safe and saw environmen then automatically thought safe working environment which is employees. So LOL for me. Just hoping c is right. But im convinced its not. I dunno.

quesiton 4 - answer is to provide a safe shopping environement beause

- to deliver quality service, not all super has to be nice the other consumer and not all supermakert has delivery services
- to advertise weekly special.... stupid answer
- to offer moneyback guarantee... its not legal, like if u ate a banana, and you say its shit. your not gonna get moneyback for it... and refund policy and exchange policy varies in supermarket

- the clear answer is to provide a safe shopping environment because what, are you gonna shop in a store which is dirty, filled with rats, knives everywhere, and dead corpses in the supermarket, of course not, its same with business, employer has to improve a safe environemnt for employee to work in. OHS

 

[idge]

Re: Business Studies Section I: Multiple Choice

Question 17:
Which of the following is an ethical business practice.
A, B and C were all unethical practices. D was using independant auditor, which is an ethical business practice. If you picked A, B or C, what do you think D was? Lol.

I got really confused because i thought the word 'indepenently' meant that you audit your accouts by yourself which is unethical, so i honestly thought there was an error in the question.

 

[Eddykungfu]

Re: Business Studies Section I: Multiple Choice

17 im sorry to say is A: Transfering funds to tax havens. look at ur syalbus global.

I've checked my GLobal syllabus many times

pretty sure Transfer funding /tax havens exploitation is unethical not Ethical.

In relation to question 1 MC
I saw in several study guides/ case study guides that gave justification for the answer of that question to be Niche (C).

For an example, it says on Coca Cola Amatil information that they target a niche market of 18-25 year olds with coke zero.
This is a pretty similar concept to 15-20 year olds.

Also in Excel study guide.

 

[ryanskies]

Re: Business Studies Section I: Multiple Choice

Wouldn't be surprised if they accepted both answers, but overall - dodgy exam paper lol.

 

[blake1991]

Re: Business Studies Section I: Multiple Choice

yehh niche is wrong im sory to say. niche is a small, specialised market, there is nothing specialised about hair gel or watever it was. yeh so was consumer market. niche market is a ferrari for example, that is a smal specialised market.

Yes it is not Niche its consumer. Thats a market segment

 

[blake1991]

Re: Business Studies Section I: Multiple Choice

for question 4 business are also legally responsible for providing money-back guarantee. It states so in the ACCC consumer laws. Although i think this is only applicable when the business actually does promise money-back guarantee.

The answer is definately A for Q1

 

[blake1991]

Re: Business Studies Section I: Multiple Choice

For question 1, the Board of Studies practically gave you a mark as this question was so easy. 15-20 is an specific age group, therefore it's niche. If the question had been "A store is selling jewellry at a local shopping mall, what type of market are they aiming at" that would be consumer. However, since the question said 15-20 age group, obviously it's niche.

Your example on Ferrari's is just fucking stupid. It's like Dolly or Girlfriend Magazine, they are targeted at teenagers, obviously a niche market, but going on your logic, what stops a 50 year old man or a 20 year old man from purchasing it?

You should not have chosen Business Studies as an HSC course.

Dude ur the doosh bag he is right ferrari is a correct example and either way it is a consumer market because they are selling directly to consumers. Its a market segment, hence 15 - 20 which is a segment

 

[ajay12]

Yes it is not Niche its consumer. Thats a market segment

Niche market is a market segmentation. Well done.

Dude ur the doosh bag he is right ferrari is a correct example and either way it is a consumer market because they are selling directly to consumers. Its a market segment, hence 15 - 20 which is a segment

You, sir, are an idiot. What do Ferrari dealerships sell their cars to? If you're point is confusing. First you say that older, wealthy men purchase Ferrari's which is a Niche (And i agree with you there) but then you say a jewellers marketing at a 15-20 year age bracket is consumer? Holy fuck, you are the stupidest and most confusing person on Bored of Studies. Ferrari dealerships sell directly to consumers as well, it's a fucking market.

An example:
Ferrari Dealership: Sell to 50+ wealthy men. Niche market.
Jewellers: Selling to 15-20 year olds. Niche Market
Bakery: Sells to anyone. Consumer Market
Used car dealership: Sells to anyone. Consumer Market.

It's douche, not doosh, you douche bag.

 

[00iCon]

Niche market is a market segmentation. Well done.
sarcasm not detected


You, sir, are an idiot. What do Ferrari dealerships sell their cars to? If you're point is confusing. First you say that older, wealthy men purchase Ferrari's which is a Niche (And i agree with you there) but then you say a jewellers marketing at a 15-20 year age bracket is consumer? Holy fuck, you are the stupidest and most confusing person on Bored of Studies. Ferrari dealerships sell directly to consumers as well, it's a fucking market.

An example:
Ferrari Dealership: Sell to 50+ wealthy men. Niche market.
Jewellers: Selling to 15-20 year olds. Niche Market i disagree, that's a segment!
Bakery: Sells to anyone. Consumer Market
Used car dealership: Sells to anyone. Consumer Market.

It's douche, not doosh, you douche bag. that's true though!

obviously mt comments are in LT BLUE