Thesis Final Report (long)

Lower the prices there will be and if bargainers go

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lower the prices there will be and if bargainers go to almost all the sellers in the market, then the overall prices would be lower for both the bargainers and the price takers. Desai and Purohit (2004) find that a haggling policy compared to a fixed price policy, is more profitable when the proportion of non-hagglers is sufficiently high. In this situation, the seller can discriminate on prices, charging high margins from those who won’t haggle or whose 11
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opportunity cost of time is high, and selling at lower prices to the ones that will haggle, drawing an overall profitable outcome from the portfolio of shoppers. 12
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CHAPTER 3 RESEARCH METHODOLOGY 3.1 Research Design The nature of the study is qualitative and exploratory, and was based on information and data collected from both primary and secondary sources. 3.2 Sampling Techniques Secondary data was collected from articles and journals accessed through HEC Digital Library and internet. The researchers reviewed approximately 120 articles from online journals, research papers, magazines and newspapers. Semi-structured in-depth interviews framework was followed for the depth interviews and a list of questions was prepared for customers and the retailers. Additional questions were asked through laddering technique in order to reveal implicit answers. The customer in-depth interviews have been added in Appendix B and the retailer in-depth interviews are attached in Appendix C. Confidentiality was maintained during the interviews and analysis and for this purpose the names have been not added in the responses. The interviews were conducted over a period of four weeks during February 2011 and the average duration of the interviews was 18 minutes. The observations were also conducted over a period of two week during February 2011 and their average duration is 4 minutes. 3.3 Sample Size The sample size is distributed in Table 3.3-1 shown as follows: Particular Amount Retailer Interviews 12 Customer Interviews 58 Observations 16 Table 3.3-2 Sample Size 13
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3.4 Data Analysis The collected recordings of interviews and observations were transcribed in English as they were taken in Urdu. Furthermore, the data from customer and retailer interviews was coded and analyzed with the help of MS Excel. The data was then used to propose a haggling framework for haggling practices used by people while shopping in a retail environment. The analysis of our primary data provided the researchers with insights that helped them to develop a haggling model based upon open air retail environment. Information from earlier researches and studies conducted in this area was also utilized to develop the framework. 14
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CHAPTER 4 FINDINGS AND ANALYSIS 4.1 Customer Findings The researchers conducted a total of 58 in depth interviews of customers at Sunday Bazaar. The sample population included men, women, young adults, mature adults as well as old aged people belonging to different strata’s of social life. The respondents
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