While growing up, ocassionally do follow mum and dad to the market. Concluded most women know how to handle the negotiation of price, other wise known as "pricing", stuff is encoded in their genes. Men on the other hand are believed not to have much time for the whole drama. But my dad case different. If he price market for u ehn, u wey dey near am go dey pity the seller. U give him an initial price of #1,500 and watch him successfully cut it down to #700 or #800. Sometimes i get embarrassed been with him during the whole ish. But now he doesn't do much of those stuffs again cos levels don change, Glory be to God
When doing my negotiations i consider the following...
(1) The environment- u can't go to a shopping mall or supermarket and start negotiating. The prices there are fixed, u just pay and comot. Any environment lesser than dis setting, nna negotiation must be involved.
(2) My financial status- this has a great influence on how far i go with the negotiation. Someone like Aliko dangote or Adenuga wouldn't have time for such drama. But of course, not everyone is super rich.
(3) Nature of the goods- here i consider the quality. And its based entirely on how well i know the item. Most first timers end up falling mugun cos they don't know its true worth. And trust the sellers, they would always capitalize on your ignorance and make u pay exorbitant prices. And pls also remember, no be everything person dey price. Abi u fit price bread
(4)The seller- i just hope i dont offend some people here. I consider the gender, character and most importantly the tribe of who's selling. I noticed the hausa's don't unnecessarily increase the price of their goods. They are the most reasonable when giving an initial price. The yoruba's, amma say maybe on the average. Buh for my igbo brothers, chai na dem sabi business pass. Dem go first hit u with "triple the actual price". I've fallen mugun a couple of times though. But now i don wise up, i knw hw to handle them. For a shirt that is supposed to go for #1,500, an igbo seller would initially tell u 4k . You wey wan price am go first fear, come try to be reasonable enough to cut it down to 2k. Forget all those their "show glass" shops, all na just packaging. Am sure a lot of people can relate to this. Those guys sure know hw to play mind games with u. I give it up to them for this.
Ermm sorry for the long epistle. So fellow nairalanders, over to u....tell us how u do ur "pricing"