Compare and contrast a shopping centre with a festival marketplace in terms of how consumers experience each of these retail environments.

Customers positively perceived a festival marketplace seeing it as a unique environment and a social event in the life of their city. This place became habitual and institutionalized. The purchasing process and the related acts of accumulation and consumption are means of achieving goals both of the purchaser and those he represents. The acts of accumulation and consumption indicate the differences between consumers and purchasers and between consumption. For festival marketplace buyers, it was more than simple shopping but a unique experience and a chance to meet friends and have a cup of coffee. In the household, performing purchasing activities to satisfy all the wants of one’s family and friends through the evaluation of an overwhelming array of available goods and services is an impossible task. Within a family unit, wants and needs are not directly known.

Usually, one decision-maker, the wife, purchases for the group. She acts as a household purchasing agent with the responsibility of maintaining and improving the family’s stock of goods in order to provide for the wants and needs of members of the household. The housewife, therefore, must anticipate consumer needs and try to obtain the best value for the money. In contrast, a shopping center is a more formal place for purchase. Uncertainty exists in the purchasing-consumption cycle since present purchases are made for future consumption. The consumer is constrained by limited resources and information. Somehow estimates must be made of the values expected by a variety of people from future consumption of goods purchased currently.

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Academic.Tips. 2022. "Compare and contrast a shopping centre with a festival marketplace in terms of how consumers experience each of these retail environments." November 15, 2022. https://academic.tips/question/compare-and-contrast-a-shopping-centre-with-a-festival-marketplace-in-terms-of-how-consumers-experience-each-of-these-retail-environments/.

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Academic.Tips. "Compare and contrast a shopping centre with a festival marketplace in terms of how consumers experience each of these retail environments." November 15, 2022. https://academic.tips/question/compare-and-contrast-a-shopping-centre-with-a-festival-marketplace-in-terms-of-how-consumers-experience-each-of-these-retail-environments/.

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