Thesis Final Report (long)

The researchers have developed a haggling model for

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the researchers have developed a haggling model for local open air retail markets, by studying the different degrees of haggling that they believe will be a beneficial contribution to understanding consumer behavior. 1.3 Objectives of Study The objectives of this study were to understand the concept of haggling in bazaars with respect to local open air markets and the motives behind shopping at weekly bazaars focusing on DHA Bachat Bazaar, Karachi. The researchers have studied various variables like the type of products, asking price, product features and environmental factors that support or hamper the usage of haggling. An analysis of the benefits and drawbacks that arise from haggling has also been done, based on which a haggling model was eventually developed. 1.4 Significance of the Study This research will help in consumer education on the practices followed in purchasing of goods in open air markets such as bazaars. It is a basis for further research on similar topics in the 2
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future. Also, with this research the researchers have developed a haggling model that would act as a resource for future researchers. This research has provided very useful consumer insights that can be used by businesses when planning to enter such markets and understanding the dynamics of bazaars. 1.5 Limitations of the study A number of limitations were faced during the research study mainly because this research was conducted in Karachi, Pakistan; with the assumption taken that the same dynamics are true for other markets of Pakistan. Also, due to time and technical constraints, this research was limited to a smaller sample size. Moreover, the ability and willingness of the respondents to take part in this research was also a major constraint. It was assumed that the consumer insights that the researchers have gained through interviews and observations are genuine and authentic. Since these interviews were taken on site in a bazaar setting, the respondents lacked time and may have given in accurate information. Any inaccuracy in information collected will contribute to validity issues due to single source error susceptibility. The research is dependent on the information provided by different resources and is based on the data available. 1.6 Structure of the Report This research is divided into five chapters which are Introduction, Literature review, Research Methodology, Data Findings and Analysis and Conclusion. Chapter 1 of this research relates to introduction and background of the study, research problem and objectives, significance of the research and a brief study of the research methodology that is 3
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used. Chapter 2 is about the previous studies conducted on open air markets and haggling by different people all over the world. It discusses about haggling, global and local open air markets and its origin and the culture that prevails in these markets. Chapter 3 focuses on the research methodology, research design, sampling techniques, data analysis method, research design, as well as the limitations to this research. In Chapter 4, the focus is on analyzing the data that has
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