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March 29, 2024, 01:08:14 pm

Author Topic: Business Studies/ HELP PLEASE!!  (Read 1197 times)

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Vanessatlam

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Business Studies/ HELP PLEASE!!
« on: August 30, 2017, 01:40:03 pm »
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Hey, I'm still a little iffy about the answers in my trial multies, and don't understand why the answer was.
question were:
1. what market is oily hair shampoo in.
*i chose mass but the answer was niche*

2. if your family and peer group influence your product choice what influence is it?
*i chose phycological, it was sociocultural*

fantasticbeasts3

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Re: Business Studies/ HELP PLEASE!!
« Reply #1 on: August 30, 2017, 01:46:02 pm »
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Hey, I'm still a little iffy about the answers in my trial multies, and don't understand why the answer was.
question were:
1. what market is oily hair shampoo in.
*i chose mass but the answer was niche*

2. if your family and peer group influence your product choice what influence is it?
*i chose phycological, it was sociocultural*

1. shampoo for oily hair would be in a niche market, because people have different types of hair (weird as it sounds, it's only catered to a specific group).
2. psychological is more ads trying to influence your perception of something - at least that's how i remember it. sociocultural is based on people you know :-)

hope this helps - i haven't studied business in a while. also, there's a business question thread :-)
HSC 2017: English (Standard) // Mathematics // Modern History // Legal Studies // Business Studies
2018-2022: B International Studies/B Media (PR & Advertising) @ UNSW

Vanessatlam

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Re: Business Studies/ HELP PLEASE!!
« Reply #2 on: August 30, 2017, 01:54:53 pm »
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Thanks heaps!! xx

Opengangs

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Re: Business Studies/ HELP PLEASE!!
« Reply #3 on: August 30, 2017, 02:01:26 pm »
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Hey, I'm still a little iffy about the answers in my trial multies, and don't understand why the answer was.
question were:
1. what market is oily hair shampoo in.
*i chose mass but the answer was niche*

2. if your family and peer group influence your product choice what influence is it?
*i chose phycological, it was sociocultural*
When we say "mass" market, think of examples that apply to everyone (such as electricity and petroleum). Mass market is the selling of a specific item, such as electricity, to a large number of people with common interests. Now, shampoo by itself can be considered a mass market product, because it caters to a large number of people with common interests, but it asks for oily hair shampoo, which applies to a specific target market. Hence, it is a niche product.

Family and peer can be both, psychological and sociocultural, to an extent. But remember that psychological refers to how we, as consumers, feel when buying a specific product. It is the psychology behind our motives into buying their product. So, even though it's technically not incorrect, it's not the best answer.

Sociocultural refers to its social outlet; it is the people that surround us that makes us buy it. Friends and families are very common sociocultural influences to an individual. Thus, this is why sociocultural is the better answer.

mattmorley

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Re: Business Studies/ HELP PLEASE!!
« Reply #4 on: September 11, 2017, 07:27:50 am »
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haha i did the same paper as you, a few tricky multis, what did u get overall??
1. its niche not mass as its not normal hair shampoo that would meet the entire market , its oily hair shampoo which is precise and directly targeted at a particular group of people, thus niche
2. thats just simple understanding of factors on consumer choice (PEGS). pyscholgoical is inner and ones personal motives, socio-cultural is external where the others and culutre and society influence
HSC 2017

Standard English
General Maths
Studies of Religion 2
Business Studies
Geography