Section I - Multiple Choice (3 Viewers)

[ajay12]

obviously mt comments are in LT BLUE

Read the syllabus. Look at the types of markets. There is no market segmentation there. Resource, Industrial, Intermediate, Consumer, Mass, Niche. Therefore, market segmentation is an invalid answer for what type of market it is. Now, since Niche Market is a closer answer to Market Segmentation, it's obvious a more correct answer than consumer.

If you thought the question was market segmentation, which you obviously did by you writing in light blue, why did you select the market segmentation choice, oh wait, there wasn't one.

 

[catylist]

OK
macquarie says....

Consumer market
consumer markets are where individuals and housholds buy or rent products for personal use. The consumer market is the largest type of market

Niche markets
highly specialised products that only a small number of people want to buy or can afford are traded on niche markets. Such markets are very small and are mainly catered for by sall business, such as exclusive fashion retailers

FIRSTLY i think you guys are all looking into multiple choice questions too deeply. they arent there to puzzle you for 10minutes.

SECONDLY i chose consumer market because jewellery for 15-20yr old e.g. DIVA and EQUIP are very cheap and although they may target that age group, i see mums and people going in there to shop too. BECAUSE the STUFF ARE CHEAP, anybody could buy hence the BIG MARKET.

Why niche is wrong?
MACQUARIE states it is something only a small number of people can afford or want to buy hence what i said...CHEAP meaning anybody can buy whether they give you an age group or not doesnt really matter. However if they gave you an age group say wealthy 50-60yr old females then thats different. They may mean BULGARI or CARTIER which is mega expensive. 1 necklace cost $10 000 hence THAT would be niche market.

so finally, you guys are thinking too much into it =.=

my answers
1. A
2. D
3. B
4. D
5. D
6. B
7. A
8. B
9. C
10. D
11.A
12. D
13.C
14. A
15. B
16. A
17. D
18. B
19. A (wrong)
20. C

 

[ajay12]

Why niche is wrong?
MACQUARIE states it is something only a small number of people can afford or want to buy hence what i said...CHEAP meaning anybody can buy whether they give you an age group or not doesnt really matter. However if they gave you an age group say wealthy 50-60yr old females then thats different. They may mean BULGARI or CARTIER which is mega expensive. 1 necklace cost $10 000 hence THAT would be niche market.

Diva and Equipp are so cheap because they market at a younger audience. You don't really think that Diva would be selling tween jewellry for $30-50? What kind of young teenager could afford that?

Just because Diva markets at young children DOESN'T MEAN that other people purchase the jewelry. It's like Playboy magazine, that's marketed at young males probably 18-30, yet that doesn't stop older males and females even to purchase the magazine.

You guys are going to have to owe everyone and apology, including your teacher, for actually arguing this. The answer is obviously niche.

 

[Eddykungfu]

You guys are going to have to owe everyone an apology or blowjob, including your teacher, for actually arguing this. The answer is obviously niche.

The answer is niche.

If it said it was a jewellery store - nothing else, it would be consumer (Since, as you stated consumer market refers to the LARGER market).

It said it was TARGETING 15-20 year olds, showing how it is a segmented, small market.

Therefore Niche.

 

[Michaelmoo]

Theres definately conflict about question 1. Personally, I put consumer market (changed it from niche after second thoughts).

Consumer is more correct imo. Characteristics of a niche market include:

• A niche market is a narrowly defined subsection of the total market.
• In other words, it exceeds a classification simply based on demographics.
• Socioeconomic class, psychographics and having common interests are characteristics of a niche.

The question simply said boys aged 15-20. IF they had put Market segment instead of Niche, I would've definately put that. There was no indication that they are targeting a group of people that have similar interests or behaviours.

If the question said Boys aged 15-20 that wear jewellery, I would've went with niche.

-------------------------------------

But then again, that's just my opinion. It doesn't mean anything, it's the board that will ultimately decide. So don't bother attacking me

 

[ajay12]

Theres definately conflict about question 1. Personally, I put consumer market (changed it from niche after second thoughts).

Consumer is more correct imo. Characteristics of a niche market include:

• A niche market is a narrowly defined subsection of the total market.
• In other words, it exceeds a classification simply based on demographics.
• Socioeconomic class, psychographics and having common interests are characteristics of a niche.

The question simply said boys aged 15-20. IF they had put Market segment instead of Niche, I would've definately put that. There was no indication that they are targeting a group of people that have similar interests or behaviours.

If the question said Boys aged 15-20 that wear jewellery, I would've went with niche.

-------------------------------------

But then again, that's just my opinion. It doesn't mean anything, it's the board that will ultimately decide. So don't bother attacking me

Was about to unload until I read that. Enjoy the 19/20.

 

[blake1991]

Niche market is a market segmentation. Well done.



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.

Wow i didnt realise this was an english forum. U just wait n c wat the answer is then when they are released, as i have been through this with my teacher numerous times before and she explained what niche is. If i have to spell it out to you i was referring to the the splitting up of a full market (all ages) into a small SEGMENT (15 to 20), therefore not niche. Niche is where limited sales are actually desired to create an image of prestige and from the information given we would assume that the jewelery shop wants as many possible sales from that age bracket.

 

[Michaelmoo]

Was about to unload until I read that. Enjoy the 19/20.

Did you not read what I said? No attacks. I'm happy to hear what your opinion is. I'm also not 100% sure that it's a consumer market. Just provided my justification as to why I chose it (hence why I said it's up to the board).

Why don't you do a think just a little bit b4 u post next time eh? :uhhuh:​

 

[blake1991]

Yea its the same guy going around attacking every1 thinking it will gain him extra marks.

 

[ajay12]

Yea its the same guy going around attacking every1 thinking it will gain him extra marks.

No I don't. I think that putting Niche market would have gained you extra marks.

Wow i didnt realise this was an english forum. U just wait n c wat the answer is then when they are released, as i have been through this with my teacher numerous times before and she explained what niche is. If i have to spell it out to you i was referring to the the splitting up of a full market (all ages) into a small SEGMENT (15 to 20), therefore not niche. Niche is where limited sales are actually desired to create an image of prestige and from the information given we would assume that the jewelery shop wants as many possible sales from that age bracket.

This actually is an English forum. That's a no brainer. You said you went over the question with your teacher numerous times, did you actually ask her what the answer was? Lol? Market Segmentation IS a Niche Market.

Niche is where limited sales are actually desired to create an image of prestige and from the information given we would assume that the jewelery shop wants as many possible sales from that age bracket.

I'm pretty sure it's every businesses objective to gain as many sales as possible.

Answers.com says:

consumer market

all the individuals and households who purchase goods and services for personal use.

So I'm guessing families go into Diva and Equip and purchase jewelry. Good luck next year in the HSC guys.

 

[shady145]

No I don't. I think that putting Niche market would have gained you extra marks.



This actually is an English forum. That's a no brainer. You said you went over the question with your teacher numerous times, did you actually ask her what the answer was? Lol? Market Segmentation IS a Niche Market.



I'm pretty sure it's every businesses objective to gain as many sales as possible.

NFP?
also with question one i put niche down after crossing out the other choices for being wrong

 

[AlexJB]

Wow i didnt realise this was an english forum. U just wait n c wat the answer is then when they are released, as i have been through this with my teacher numerous times before and she explained what niche is. If i have to spell it out to you i was referring to the the splitting up of a full market (all ages) into a small SEGMENT (15 to 20), therefore not niche. Niche is where limited sales are actually desired to create an image of prestige and from the information given we would assume that the jewelery shop wants as many possible sales from that age bracket.

That is not a definition of a niche market. You can aim to sell cheap souvenirs at $1.99 that shows Australia's Ayres Rock. Obviously you want to whore the product out, selling as many as you can, but the market isn't big enough. It's a niche market.

Has nothing to do with the product's image. While I agree a you can deliberately select a niche market (i.e. Ferrari) to positively reinforce a product's quality and price, that feature alone is not a representative of all niche markets.

A niche market in my opinion, is catering to a narrow target market with specialised needs. 15-20 year olds purchasing jewelery is fairly narrow (for those who don't think it so do the math and find out how much of the entire market it really is), and those young people do have specialised needs (both in terms of product and price). Hence, niche is the logical answer.

Then again, the BOS could go either way, especially looking at the paper we just sat. Many of the questions were ambiguous and had multiple interpretations. I think somebody needs to sit down and teach whoever wrote that paper a little bit of business studies.

 

[Eddykungfu]

A niche market in my opinion, is catering to a narrow target market with specialised needs. 15-20 year olds purchasing jewelery is fairly narrow (for those who don't think it so do the math and find out how much of the entire market it really is), and those young people do have specialised needs (Both may need wheelchairs, or hearing aids). Hence, niche is the logical answer.

Hows that relevant?

 

[poormans]

i prayed to jesus and he told me it was niche.

 

[sickk]

theres an easy way to settle this !

what did namu put?

 

[12em12]

i dsaion't know most people said the mc was easy but today my teacher was going through it and there where bout 5 questions that where so ambiguous he said a lot of teachers ar going to have complaints when the answers are out.

he had 2 questions that he struggled to answer due to the wording.

my teacher pretty gud in business, hsc marker 4 lng time, and been head teacher for bus a long time,

my hopes of 18 has reduced to 16 he said the mc was hard in disguise

by the way my teacher said 1 is niche

explanation: 15-20 a very small age bracket thats number 1, also those aged 15-20 indicates they don't have really high incomes i doubt all 15-20 are donald trumps, also 15-20 indicates that they could be studying or some just beginning work. how much more can u break it down, it is a niche so obvious,

 

[blake1991]

No I don't. I think that putting Niche market would have gained you extra marks.



This actually is an English forum. That's a no brainer. You said you went over the question with your teacher numerous times, did you actually ask her what the answer was? Lol? Market Segmentation IS a Niche Market.



I'm pretty sure it's every businesses objective to gain as many sales as possible.

Answers.com says:

consumer market



So I'm guessing families go into Diva and Equip and purchase jewelry. Good luck next year in the HSC guys.

Ok yea were talking about english here are we...Im pretty sure this is multiple choice for business studies u retard. No brainer. Dude u know wat i will go and ask her friday and ill get back to you when she tell me its a consumer, hey. And i said she told me about niche markets earlier in the year so its kinda hard to ask her a question that just came up. Also just out of curiosity based on the answers provided wat did u get out of lets say 19 to keep u happy??

 

[turbo2007]

i believe i can shed some light to multiple choice #1

My dad is actually one of the HSC markers for the business studies exam and he said that the answers have been drafted and marking criteria's are in the process of being finished. As of now, the answer currently CONSUMER MARKET but is subject to change if a large portion of students do infact choose niche market as their answer. I.e both answers are likely to be marked correct.
He also said that the extended response questions were a little ambiguous and asked for to much contented in the expected time frame; they will likely be marked easier to compensate for any difficulties.


now that all that is cleared, stfu and go study for english paper two.

 

[Michaelmoo]

by the way my teacher said 1 is niche

explanation: 15-20 a very small age bracket thats number 1, also those aged 15-20 indicates they don't have really high incomes i doubt all 15-20 are donald trumps, also 15-20 indicates that they could be studying or some just beginning work. how much more can u break it down, it is a niche so obvious,

Hmmm. I don't completely agree with your teacher.

The question explicitly says 15-20 year old boys. No reference is made to income, you cannot assume it is aimed at the higher income group of people simply because it is a Jewellery store. They could develop a cheaper product to cater for a variety of socioeconomic classes. Imo, Jewellery is simply there to confuse people.

Let me give you an example. Say I'm the store owner of the shop. I go to a shopping centre and hand out pamphlets to all 15-20 year old looking boys. Am I satisfying this target market? yes. Does it necessarily mean they're high incomed? no.

In one of my exams, a question talked about a magazine company targeting males aged 18-35. It was a short answer question that asked for the type of market. Niche market was not accepted, market segment was. Market segment also falls under the category of consumer market.

But then again, I agree the question is ambiguous. It's up to the board to decide.

I.e both answers are likely to be marked correct.

I don't think they've ever accepted two answers for a HSC. It's usually the most correct one.

 

[ajay12]

Wow i didnt realise this was an english forum. U just wait n c wat the answer is then when they are released, as i have been through this with my teacher numerous times before and she explained what niche is. If i have to spell it out to you i was referring to the the splitting up of a full market (all ages) into a small SEGMENT (15 to 20), therefore not niche. Niche is where limited sales are actually desired to create an image of prestige and from the information given we would assume that the jewelery shop wants as many possible sales from that age bracket.

I don't know how to make anything more clear. A market segment IS a market niche.

i believe i can shed some light to multiple choice #1

My dad is actually one of the HSC markers for the business studies exam and he said that the answers have been drafted and marking criteria's are in the process of being finished. As of now, the answer currently CONSUMER MARKET but is subject to change if a large portion of students do infact choose niche market as their answer. I.e both answers are likely to be marked correct.
He also said that the extended response questions were a little ambiguous and asked for to much contented in the expected time frame; they will likely be marked easier to compensate for any difficulties.

now that all that is cleared, stfu and go study for english paper two.

Your father is not an HSC marker, stop lying. The Board of Studies already have the answers for the questions and most probably already have the guidelines. They don't just make up questions and then develop guidelines 6 months after they created the test. They also don't have two correct answers.