Thesis Final Report (long)

Special thanks to our research supervisor ms wajeeha

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Special thanks to our research supervisor, Ms. Wajeeha Fatima Javed, whose guidance and extended support was a tremendous learning experience. The researchers would also like to thank Mr. Saami Hamid and Mr. Zaki Rashidi who gave us the opportunity to work on the thesis and guided us during this research. Finally, the researchers would like to thank our parents, family and friends for their co-operation, guidance and valuable time, importance of which can in no way be under estimated. ii
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ANTI PLAGIRISM DECLARATION "We certify that this is our own research work. Proper references and acknowledgments have been given at places where material has been used from other sources. If this statement is untrue and if we are found guilty of plagiarism, the punitive actions against us are taken as per SZABIST Anti Plagiarism Policy.” ___________ ___________ ___________ Aaqib Qasim Behjut Fatima Hassan Imran ___________ ___________ Nisha Jaffer Shayan Razzak April 9, 2011 iii
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EXECUTIVE SUMMARY The overall objective of this study was to understand haggling in open air markets for which a study on buyer-seller interactions in Sunday bazaar was done. Thus, taking into account the meaning of haggling, which is to mutually agree a price between buyer and seller, the aim is to find the motives and factors that lead to haggling. In order to further understand what haggling is, a considerable amount of literature and published reports was reviewed, the crux of which is included in the Literature Review chapter. With the perusal of various research papers and reports acquired from the international resources, it was noted that haggling has created a place for itself in various international markets, where the concept of haggling in open air markets is now very common. For the Research Methodology, a qualitative approach was taken due to the fact that it could answer two perspectives regarding haggling in open air markets like Sunday bazaar. Firstly, the viewpoints of customers on the subject of the study itself and secondly, the viewpoint of the retailers both was taken. The respondent profile mainly consisted of students, housewives, salaried people and businessmen as well who belonged to SEC A, B, C, D and E. Key data collection mediums were in-depth interviews of customers and retailers both and observations of transactions taking place between the two. The major findings during the course of the study revealed the various factors and motives considered by customers and retailers that lead to haggling. Overall, it provided ample amount of data pertaining to the objectives of the paper. Analysis and interpretation of the data further established the main factors and motives that were highlighted in the literature review, as well as identifying various elements research has not yet covered in haggling, like absence of price tag or customers’ nature to bargain. Furthermore, this paper opened up a lot of possibilities for more in-depth research and analysis pertaining to various findings.
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