Abstract and Keywords
The Grand Bazaar of Istanbul is probably the oldest and the largest covered market in the world. According to some sources, the location was used for trading as far back as the fifth century during the Byzantine Empire. Today, the Grand Bazaar still continues to function as an independent foreign exchange and gold market, and the daily exchange rates in the Bazaar are listed along with the regulated markets. Many merchants of the Bazaar are also wholesalers who sell to retailers across the country as well as overseas. This article explores how the current selling and pricing tactics in the Bazaar have evolved throughout the centuries and highlights the aspects of the sales process that can be leveraged in the target pricing methodologies for retailers.
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