Buyers versus Sellers Introduction The article looks on the buyers and sellers, and how they approach the monetary transactions from dissimilar perspectives. In addition, it studies on why the buyers and sellers react differently to the framed outcomes on the transaction that take place. The reaction of consumers to a difference in price depends on the way it is framed. Sellers experience non losses, non gains, gains and losses. In the article, it is shown that the buyers are preventive focused and, as a result, place a greater importance on loss related frames.
On the other hand, sellers are promotion alert and place a superior prominence on gain related frames. Therefore, the buyers feel better on non losses, while the sellers feel better on gains, so that a positive outcome is achieved on both. In addition, to get an equivalent negative outcome, the buyers feel worse on losses, while, the sellers feel worse on nongains. However, these effects disappear when there is some motivation process of information on monetary transaction. Summary The consumers get the products as buyers, and later, again the buyers dispose them off as sellers.
The buying and selling of goods does involve some interpretation on the price of paying and for using, by use of different frames. The getting or not getting a discount a discount causes a gain or non gain correspondingly. On the other hand, paying or not paying, a penalty can result to a loss or non loss correspondingly. In addition, getting or not getting a bonus can be a gain or non gain in that order. At the same time, incurring or not incurring a loss can be a loss or non loss in that order.
These results cause affective reactions that are evoked by the framed outcomes (Ashwani 333). Buyers and sellers do react differently to the framed outcomes. The equivalent negative outcomes can make someone feel worse like a loss or a non gain. At the same time, the positive outcomes can make one feel better, non loss, or gain. This gives the notion that buyers are different from the sellers. Opinions The article tries to prove that the lowest price at which consumers are willing to sell their products, is significantly higher, than the highest price that they are willing to pay to get it.
The buying prices are also influenced most of the time by the variables like the salient reference prices. On the other hand, the selling prices are also influenced by variables like the benefits of possessing the item. In addition, some anchors can also influence the prices. This gives the reason why buyers and sellers differ on the prices of items. However, the reason why they differ is not so clear.
The difference between the buyer and seller as used by the regulatory theory tries to solve this myth. The promotion focus and prevention focus are the distinct self regulatory system that gives the difference. They deal with security and protection, and also advancement and accomplishment. The prevention focus is related with the avoidance of losses, while promotion focus deals with attainment of gains. This shows why, in monetary transactions, the buyers are preventive focused, while the sellers are promotion focused.
This is the reason as to why the buyers put emphasis on loss related frames. The buyers feel better on non losses than on gains and also worse on losses than non gains. In the same respect, the sellers feel better on gains than on non losses, and also worse on nongains than on losses. These effects are felt when there is motivation of individuals to process the information. Work Cited Ashwani Monga, Rui (Juliet) Zhu. "Buyers Versus Sellers: How They Differ in Their Responses to Framed Outcomes. " JOURNAL OF CONSUMER PSYCHOLOGY, 15(4), (2005): 325– 333.