Thesis Final Report (long)

Is relevant because there are a lot of high

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is relevant because there are a lot of high technological products available in the second hand portion of the market. Retailers here actually do not know much about the products and hence, consumers can make most of the situation by effectively bargaining for the items. 39
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Political Risk: According to Bremmer (2005), political risk is includes all the factors that might politically stabilize or destabilize a country. According to him, businesses need to careful analyze this risk along with economic risk as it impacts their performance greatly. Pakistan has been a politically unstable nation and consumers here have been affected by this. This factor needs to be monitored when it comes to analyzing the haggling trend in open air bazaar of developing nations. Situational Factors: Other factors that influence haggling include: o Time of Day: Some of the customers believe that evening is the best timing for getting a good bargain. According to one customer, ‘if you try to bargain in the morning it won’t be so effective whereas if you come around evening or night you might easily get a 50% off quoted price’ (Respondent 58, interview, February 27, 2011) . However, most retailers say that they offer better rates in the morning. This is because the day is just staring and retailers don’t have many customers to deal with. One retailer says, ‘Sometimes we do it in order to start the day… it is usually in the morning’ (Retailer 5, interview, February 27, 2011). o Harassment: According to one retailer, harassment issues for women were a common practice in bazaar but women tend to ignore such advances. According to him, ‘there are a lot of things happening over here like harassing and well educated females tend to ignore it... it is not that they are scared. Due to being well educated they know that this is in-built nature of middle class people to do so’ (Retailer 1, interview, February 27, 2011). This is an important insight for the research as previously mentioned, women tend to bargain more and their bargaining may be affected by this variable. 40
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Market Factors: o Seven Ps of Services Marketing (Zeithaml et al. n.d.) Product: The primary reason so many people visit Sunday bazaar is because they believe that there is a large variety and huge quantity of items available under one roof. ‘I get all items under one roof with a lot of variety from fruits to vegetables to household items’ (Respondent 5, interview, February 6, 2011). For people with fixed budgets or busy schedules Sunday market is a shopping haven. Due to the different categories and vast range of products, the customer comes here for a one stop shopping experience. Bargaining or negotiation takes place for almost each and every product category. This gives an edge to the retailer over the customer because he might not know how important a product is to a customer but he knows that what he sells, there is a greater chance that the product might not be available in the market and therefore he can charge a premium to it. This case is more common in the second hand goods market than the brand new. According to
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