7
THEORETICAL FOUNDATION
2.1 The meaning of shopping mall
To the residents of metropolitan city, the word ‘shopping mall’ sounds very familiar,
since this word can be heard in daily conversation. As living human beings who need to
fulfill daily basic needs such as food and clothes, people purchase those things in a place
called a market.
(Kotler
and
Armstrong,
2004)
defined
a
market
as
the
set
of
all actual and potential
buyers of a product or service. These buyers share a particular
need or
necessity that can
be satisfied through exchange relationships. The size of a market depends on the number
of people who exhibit the need, have resources to engage in exchange, and are willing to
exchange these resources for what they want. The term market stood for the place where
buyers and sellers
gathered
to exchange their
goods. Economists
use the
term market to
refer
to
a
collection
of
buyers
and
sellers
who
transact
in
a
particular
product
class
(Kotler and Armstrong, 2004).
(Wee, 2005) described the term ‘malls’ as a huge enclosure housing different formats of
retailers,
forming
ideal shopping destination in Metros, large cities and easily accessible.
The
value proposition of
malls
is
variety of shops available close
to each other, and all
are under a common roof
and uniform shopping environment which
is an
ideal place
for
hangouts.
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