blog




  • Essay / The history of markets - 1176

    The history of markets began two million years ago with the barter of goods. These bilateral negotiations provided evidence that our descendants practiced primitive exchange. These activities set the stage for civilization, alongside ongoing developments that included different means of exchange such as money (Diamond, 1992). Marketplaces are centralized and provide a point of interaction for sellers and buyers. The goal of sellers in these open markets is to spend very little money advertising their products and buyers intend to search for low-cost products. It has been observed around the world that markets play an important economic role, whether it is a bazaar in Bara, Shillong in India or local flea markets in the United States (Bagdja, 2008). Open air markets are classified into two main parts: bazaar and flea markets are another. Bazaar is derived from an Old Persian word, a traditional public space that hosts much of the commercial activity and exchange of goods Gustavo Miranda (2007). There are three types of bazaar; Periodic bazaar which is organized on a weekly basis. Another type of bazaar is the urban bazaar; this type of bazaar influences people's urban lifestyle, through shopping dialogue and interaction of people from different cultures. The third type of bazaar is known as a local bazaar, which is limited to certain localities and has fewer shops that cater only to basic needs (Moosavi, 2007). Likewise, flea markets also serve the same needs; it is a translation of the French word “flea market” which means an open-air bazaar in Paris. Each region has its own name for flea markets in Greece, they are called Agora, Israel named them in temples and in Rome we know it...... middle of paper ......vid H. Silvera, 2008). Jeong (2013) explains that you will save a lot of your costs by making unplanned purchases in the market. Customers find the items they always wanted to own at a cheaper price. The customer can get the same quantity of product at lower prices because the products are more and the transactions are high, so the customer enjoys higher discounts as compared to the customer who buys less (R. P Bagozzi, 2002) .2.5.2 NegativePurchaser formally or informally evaluates the product after purchasing it. Maclinnis (1987) mentioned that customers may also report being dissatisfied with the product after purchasing impulsively, but they remain satisfied that the purchase was made. Belk (1975) explains that after making an unplanned purchase, many customers learned about their unnecessary purchase, the quality of that product, and the time they wasted in the market..