Section I - Multiple Choice

[BubbleX]

You can hide this advertisement by registering.

So much debate over question one!
I put consumer, but i get why niche also works.
Think it all comes down to what you were taught niche was.

What our teacher taught us was,
Consumer market: market for individuals or households who buy and use products.
Mass market: large, undifferentiated markets that don't cater for individual needs, e.g. bread
Niche market: small, highly specialised and differentiated markets, e.g prosthetics, electronic wheelchairs

So then going by what I learnt, I just assumed it would be consumer, cause selling jewelery to an age bracket doesn't necessarily mean the market is specialised, cause the product is just jewelery.

But in saying that, we were given two textbooks:

According to Cambridge:
niche market: smaller section of a larger market segment,
and, market segment: one area of a particular market, example was nova targeting 18-39y/o

so makes sense that niche works cause they gave an age bracket.

According to Pearson Longman:
niche market: smaller market for more specialised goods and services that only a few people are interested in or can afford, example was Rolls Royce for the wealthy.

so the example supports that guys argument about the ferrari,
but also, targeting an age bracket can be considered niche, cause they may be the only ones interested in the product.

There's always going to be evidence to support either consumer or niche being the answer, cause jewelery wasn't the greatest example in the world.
Depends entirely on Board of Studies and the person who wrote the test now, pray they'll accept both considering alot of people put either answer

Hope this helps people understand why others picked a different answer!

[JAM91]

Theres a difference between a market that a company markets to and a market in general. A 'market' is any situation involving consumers and producers (basic economics) so in that sense jewelery falls under the category of 'consumer market'. In the marketing sense it is aimed at a niche market because it is only aimed at a small section of the market.

[La Bomba]

i still believe its consumer. jewlerry is not a niche market. 15-20 year olds are consumers. the amount of 15-20 yr olds in aus is not exactly "small and specialised"

[ajay12]

Originally Posted by JAM91

You are completely stupid if you say that we're thrown off by the fact that it is 15-20 year olds because you are the one who is stupid for thinking about the product as a whole rather than as the statement asks "what market it is aimed at". If it said "what type of market is jewelerry in" the answer would be consumer, but the question asks "what market are they targeting" which has nothing to do with the tangible qualities of the product it is all about who they are aiming there marketing at, therefore a consumer market would mean they are doing an marketing plan that is aimed at anyone, but they are specifically targeting a group- hence the answer is niche.

An explanation can not get any more simplified than that, other than saying the answer is niche.

[Michaelmoo]

It's funny how everyone sits here proposing their philosophy. Seriously don't bother, if you want to give an opinion feel free to do so. By no means make the answer definite with your opinions.

To me, doing so just means you have doubts, and you're simply trying to convince yourself the answer is whatever you put it as.

[JAM91]

Originally Posted by La Bomba

i still believe its consumer. jewlerry is not a niche market. 15-20 year olds are consumers. the amount of 15-20 yr olds in aus is not exactly "small and specialised"

ok this is my last post on this

picture the jewelery market

it is a large market (consumer)

consider who buys jewelery most (30-50 year olds because of expendable income)

how many 15-20 year olds do you know who purchase jewelery as opposed to older people

if they targeted 30-40 year olds id agree it was a consumer market because thets a shit load of people but 15-20 year olds make up a tiny section of the amount of people who purchase jewelery

/discussion on the first question

[vpa2891]

Originally Posted by BubbleX

So much debate over question one!
I put consumer, but i get why niche also works.
Think it all comes down to what you were taught niche was.

What our teacher taught us was,
Consumer market: market for individuals or households who buy and use products.
Mass market: large, undifferentiated markets that don't cater for individual needs, e.g. bread
Niche market: small, highly specialised and differentiated markets, e.g prosthetics, electronic wheelchairs

So then going by what I learnt, I just assumed it would be consumer, cause selling jewelery to an age bracket doesn't necessarily mean the market is specialised, cause the product is just jewelery.

But in saying that, we were given two textbooks:

According to Cambridge:
niche market: smaller section of a larger market segment,
and, market segment: one area of a particular market, example was nova targeting 18-39y/o

so makes sense that niche works cause they gave an age bracket.

According to Pearson Longman:
niche market: smaller market for more specialised goods and services that only a few people are interested in or can afford, example was Rolls Royce for the wealthy.

so the example supports that guys argument about the ferrari,
but also, targeting an age bracket can be considered niche, cause they may be the only ones interested in the product.

There's always going to be evidence to support either consumer or niche being the answer, cause jewelery wasn't the greatest example in the world.
Depends entirely on Board of Studies and the person who wrote the test now, pray they'll accept both considering alot of people put either answer

Hope this helps people understand why others picked a different answer!

Yeah, my teacher also said that they would accept both answers.

[Freshjiver]

Can someone pleeaase scan the multiple choice up!
Spastic hsc people said i couldn't take the paper, and i'm dying to go through multiple choice.

[chuha]

Best multiple choice ever!

[hairspray]

I don't know why some schools don't allow you guys to bring the question paper out... At my school when the supervisor was collecting the English paper I asked her if i needed to write my number on the question paper and she said no so i asked if i can take it and she said "i don't see any reason why you cant". So i took the paper and gave it to my english teacher.

[liuyilei]

hey,guys, for Qns16 in MC, i have B instead of A that most of you get...i just wonder why it is wrong...is vertical integration means the expansion of production in different but related areas???in other words, diversify to car cleaning products is related to the motor vechile industry as well...i think i am wrong. i just wonder why,,thanks and good luck everyone

[LEEESHA]

Originally Posted by liuyilei

hey,guys, for Qns16 in MC, i have B instead of A that most of you get...i just wonder why it is wrong...is vertical integration means the expansion of production in different but related areas???in other words, diversify to car cleaning products is related to the motor vechile industry as well...i think i am wrong. i just wonder why,,thanks and good luck everyone

vertical integration involves taking over/merging with a business in a different stage of the production process in the same industry...

so a business might take over/merge with its product's manufacturing firm, so that it has more control over the product

[Michaelmoo]

Originally Posted by JAM91

You are completely stupid if you say that we're thrown off by the fact that it is 15-20 year olds because you are the one who is stupid for thinking about the product as a whole rather than as the statement asks "what market it is aimed at". If it said "what type of market is jewelerry in" the answer would be consumer, but the question asks "what market are they targeting" which has nothing to do with the tangible qualities of the product it is all about who they are aiming there marketing at, therefore a consumer market would mean they are doing an marketing plan that is aimed at anyone, but they are specifically targeting a group- hence the answer is niche.

Your reasoning doesn't make sense... Niche also falls under types of market, From the syllabus:

Types of markets - resource, industrial, intermediate, consumer, mass, niche

But anyway, its over now.

[JAM91]

Originally Posted by Michaelmoo

Your reasoning doesn't make sense... Niche also falls under types of market, From the syllabus:

Types of markets - resource, industrial, intermediate, consumer, mass, niche

But anyway, its over now.

yes i know its over but do you still honestly not understand. I know niche is a type of market e.g. goth clothes/ferrarris, but jewelerry is not in a niche market. However marketing to such an insignificant section of the market (teenagers) means that they are TARGETING A NICHE MARKET that exist in a consumer market

[Brennyd]

still complaining over something that is done and dusted. just wait until the answers come out.



















btw - it's niche.