Thesis Final Report (long)

The morning because retailers want a good start of

Info icon This preview shows pages 35–38. Sign up to view the full content.

View Full Document Right Arrow Icon
the morning because retailers want a good start of their day and there are few customers to deal with at that time. Some retailers give better rates in evening as they have to clear out their stocks and recover as much investment as possible. Most of the retailers who were interviewed said that they are able to retain their customers. Some retailers are even able to retain customers from old Sunday bazaar and are given lower prices. Some retailers have fixed clients like boutique owners who always come to their shop. Retailers buy goods from different places like wholesale markets, used markets and importing goods from abroad. Most retailers also sell their goods in other malls, bazaars or stalls on streets. Their opinion is that bargaining takes place at these places too but not as much as at Sunday bazaar. Retailers think that there are differences in operating at Sunday bazaar and other places. At malls, retailers’ charge a comparatively higher price and less bargaining takes places but the turnover of customers is less. 4.3 Proposed Haggling Framework The researchers have constructed a framework of Haggling in an Open Air Market as shown in Figure 4.3-1. This dynamic framework consists of the motives of haggling in a bazaar setting, the factors that influence these motives and the negative or positive outcomes that further influence the motives of haggling in such set-ups. Various motives and needs have been identified for a person to engage in the haggling process that varies from individual to individual. These include different motives, individual factors and other factors. The motives and needs as shown in the figure are the 25
Image of page 35

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
dominant drives that lead an individual to the haggling process in an open air bazaar set- up. Some factors have been identified that influence the haggling process that leads to people haggling differently. The outcomes gained from the haggling process are either positive or negative. Positive outcomes include the successful negotiation between the buyer and the seller that leads to the sale of goods by maximizing their own interests. Negative outcomes occur when prices increase for buyers, profits decrease for the seller or the buyer goes to competition and there is no sale of goods. 26
Image of page 36
Figure 4-7 Haggling Framework Buyer Price Discrimination Feeling of Resentment Paying More than Expected Bitter Experiences Time Consuming Motives Saving Achievement Social Recognition Power Entertainment Curiosity Independence Vengeance Positive Outcomes (Rewards) HAGGLING Other Factors Economic Natural Environment Technological Political Risk Situational Market Factors 7 Ps of Bazaars Product Place Price Promotion Physical Evidence People Processes Negative Outcomes (Punishments) Individual Factors o Demographics o Age o Gender o Income o Religion and Culture o Psychographics o Lifestyle o Personality o Self Concept o Psychological o Attitudes & Beliefs o Motivation o Social o Reference Groups Seller o Feeling of Resentment o Time Consuming o Greed Seller o
Image of page 37

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 38
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern