Methods of Buying and Selling - JSS2 Business studies Lesson Note

Description:

Different methods exist for buying and selling, catering to various preferences and circumstances. Some common methods include direct negotiation, sample transactions, auctions, and inspection-based purchases.

 

Sample:

Sample transactions involve providing customers with a small quantity of a product to evaluate its quality before committing to a larger purchase. This method is commonly used in industries like cosmetics, food, and electronics.

 

Auction:

Auctions are public sales events where goods or services are sold to the highest bidder. They can be conducted in-person or online, with participants competing to secure the desired item. Auctions can result in competitive pricing and quick sales but may not guarantee the best value for sellers.

 

Inspection:

In inspection-based purchases, buyers have the opportunity to examine the goods or services before finalizing the transaction. This method ensures transparency and allows buyers to assess the quality and condition of the items they intend to purchase.