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!
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!
