The Black Friday

TheBlack Friday

Tableof Contents

1.0 Executive Summary 3

2.0 Problem Statement 4

3.0 Data Analysis 5

4.0 Key Decision Criteria 5

5.0 Alternatives Analysis 5

6.0 Recommendations 5

7.0 Actions and Implementation Plan 5

Reference 6

BlackFriday

1.0Executive Summary

BlackFriday is a day observed in the United States of America, UnitedKingdom, and Mexico and it is on the fourth Thursday in November,which is a day following Thanksgiving in the United States of America(Ashley&amp JaQuavis., 2011). Theday has been observed since 1932. It is regarded as the beginning ofthe Christmas shopping whereby most of the businessmen open theirbusinesses early in the morning and close late in the night. Some ofthe businessmen even open their businesses overnight. Mostbusinessmen offer great discounts to the customers. The action of thebusinessmen running their businesses for long and offeringpromotional sales which include cutting down on the prices ofcommodities and offering free gifts when consumers meet a certainpurchase target promotes excessive purchases which often lead tostock exhaustion. Most consumers end up spending more on purchasesthan expected especially if one had not set up the budget constraintbefore going out to shop. shopping day has itsdisadvantages both on the consumers and the sellers. On the side ofthe sellers, some end up losing their items to thieves who takeadvantage of the day. Consumers are, however, the most affectedduring the day as they are vulnerable to overspending which laterleads to insufficient funds available on the other items. Buyers arealso vulnerable as some sellers illegally increase the prices.

Theterm Black Friday is a retail language used by the sellers. The wordblack signifies profits. Therefore, the Black Friday is a profitFriday. The day is significant to retailers as it is the day ofcompensating for the losses made during the year. Despite thechallenges faced by the buyers, the study reveals that females werehappier during the day than the male.&nbspThe behaviour of thecustomers in line and during the store entry depicted a negativeattitude towards the Black Friday. Most consumers endup spending much time on the queues waiting for the store to open,and some of them are injured when the stores finally open due toscramble for entry. The customers also take the most time to identifywhat they need, and some of them end up going back home empty handedas the stores finally get exhausted. The worst part of the day isthat most people end up losing their lives as others get injured.There is also a limitation of the parking space. This leads toconfusion and frustration.

Anindividual customer observed mixed reactions which includedhappiness, calmness, courteousness, anxiety, tiredness, andirritability. The largest percentage of consumers had a specificproduct in mind, while others bought items because they were on saleas others went for the gift item. A small percentage of customersexamined the price of the items and compared the products with theprices.

Thecustomers exhibited knowledge of the stores, the products, and theirprices. This is because some of the shoppers could opt for thesubstitutes whenever the wanted product was not available. Someshoppers exhibited reserved behaviour toward the employees. This leadto some level of confusion as one could not exactly predict what thereserved behaviour held.

2.0Problem Statement

TheBlack Friday shopping has been experiencing more challenges to boththe shoppers and the sellers since its innovation. The shoppers arethe hardly hit because their expectations of happiness andsatisfaction end up in frustration and irritation. From the abovesummary, we noted that most of the consumers are hurt, loss life, getfalse products, encounter thieves, face harassment from the storeemployees, waste time, experience torture and unavailability ofparking space. Sellers experience the problem of thieves. Our mainconcern is to come up with ways of minimizing these problems orsolving them completely.

3.0Data Analysis

Theobservations made on the customer behaviour show that customersexhibit mixed reactions on the day. The reactions range from positiveattitudes, neutral to negative attitudes. The neutral behaviour ofcalmness was the most observed which is followed closely bycourteousness. Anxiety, happiness, product gripping, excitement,happiness and irritability followed. Boredom, anger, disgust,distress, tension dominance and aggression were among the secondleast observed behaviours, while sadness, belligerence, grippingother customers, kicking, and name calling and punching had thelittle percentage. Tripping, using of weapons and holding othercustomers was not observed completely.

4.0Key Decision Criteria

Thekey decision criteria were obtained from the observations. The keydecision was obtained from analysing the behaviour of sellers,buyers, and employees.

5.0Alternatives Analysis

Severalalternatives to the Black Friday have been suggested. These includeexpanding the stores, educating the sellers and buyers about theproducts before Black Friday, and labelling of the products and theirprices.

6.0Recommendations

Boththe sellers and the buyers should adhere to the guidelines given tothem by the education experts. With that, the challenges will beminimized, and both the seller and buyer utilities will be maximized.

7.0Actions and Implementation Plan

Theexperts and officers involved in the marketing sector should put intoaction the guidelines and specifications that shall guide theoperations during the Black Friday shopping day. The specificationsshould be put in place as early of possible to ensure familiarity andadherence.

References

Ashley,&amp JaQuavis. (2011).&nbspBlack Friday. Deer Park, NY:Urban Books.