Petroleum and Mineral

Trade
HA-2
Name – ABHINAV RAJ
Roll No. – 18MI33001
Find out how they keep order in the market: price of products,
behaviour of shop owners, treatment of customers, payment of
suppliers, upkeep of the facilities, avoiding cartel and any other thing
they say or you find out.

 Shop Visited:- SEVEN TEN STORE (Rajiv Nagar, Patna)

Price of the Products:-

 As, it is a grocery shop, different items has different prices
 Almost all the packaged items such as soaps, hand washes etc., are sold at
MRP
 Some of the food items e.g. flour, sugar were sold at more or less same rate
as other shops
 On different products the shopkeeper have different margins of profit
Behaviour of Shop owner and Treatment of Customers
 The behavior of Shop Owner was very good. He was very friendly and helpful
in nature
 He treats his customers with respect, and tries to deliver the items as fast as
possible
 He tries to build trust and good relation with his customers, so that his
customers always comes to his shop
 Even his staffs and other workers are helpful, they try to make sure that a
customer is fully satisfied when the customer leaves the shop
Payment of suppliers
 As it is a daily basis business, so the payments are made to the suppliers
frequently
 His shop consists of wide variety of items of different companies, Each
company provides different time periods for payments
 Most of the company asks for payment before taking the order, Some of them
asks after the order is supplied
 Some company provides credit to the shopkeeper for about 7-15 days for
payment, All depends on how good relation and trust the suppliers have with
the shopkeeper.
Upkeep of the facilities
 As it is a grocery shop, so much precaution are taken by the shopkeeper like
about the expiry dates of products
 Sanitation is done from time to time so that the product are not affected by
insects etc.
 List is prepared frequently, like how many products are sold, and how many
left in stock
 Facilities of online payments has been installed in the shop, so that customers
has no need of carrying cash money
 There are facilities of free home delivery of items if customers purchases
goods of worth more than 500.
Avoiding Cartels
 Cartels should be avoided as they are immoral and illegal 
 Cartels cheat consumers and other businesses, and also restrict healthy
economic growth
 Cartels discourage new entrants into the market, acting as a barrier to entry.
 Lack of competition due to price-fixing agreements lead to a lack of
innovation.
THANK YOU