Thesis Final Report (long)

When asked on what it takes to be a good bargainer

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their costs at the end of the day. When asked on what it takes to be a good bargainer, most of the retailers agreed that politeness and good nature were important traits. Also, persons with sound knowledge of 23
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the worth of goods being purchased were supposed to be better bargainers. Good communication skills and patience to bargain with the retailer were also qualities that most retailers agreed that a good bargainer should have. Retailers also thought that a good bargainer should understand the pricing strategy of the retailer as he might bargain and sell the item at a price which is below its worth. Additionally, a few other qualities that included saving money, buying in bulk and nagging the retailer were identified. Two retailers agreed on the fact that bargaining varies according to income groups. They said that middle income people have a tendency to bargain as they have a habit of saving and do not realize the worth of the item. In their opinion, the higher income people rate time more important and do not engage in bargaining. When asked whether culture or race has an influence over bargaining, most retailers said that it did because of two reasons. Firstly, bargaining was said to be inherent in Pakistanis and secondly loyalty develops between customer and retailer if they know that both are from the same race or speak the same regional language. Only a minority of the retailers feel that bargaining according to culture doesn’t take place because they believe that such differences do not affect the buyer seller relationships. According to them one should be polite and should sell justly to people from all races. Also, one retailer said that religion impacts the buyer seller relationship as he himself believes that they are all Muslims in this bazaar and should be treated equally. Majority of the retailers believed that the prices they quote are variable for different customers. They believe that being a salesperson is an art and the price is quoted by analyzing a customer’s personality and need. Also, since most customers bargain a lot, prices are quoted differently to cover costs as well as chance of loss when too much bargaining takes place. Also, regular customers are charged lower prices whereas intelligent customers need to be tackled with care. Prices also vary if the retailer is able to judge where the customer resides. However, few retailers do not have variable prices as they have a fixed price policy or do not want to incur losses due to bargaining. When asked how they set prices of the goods they are selling, most retailers said it was through 24
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judging the worth and the quality of the item being sold. Also, covering the overall cost was important in the price determination process. Different retailers have different margin over rates and this depends on the type of products they are selling. On some goods, retailers earn up to 100% profit but most retailers gain a profit of 25% to 30% on a regular basis. According to most of the retailers the best time to get a good bargain is in
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