Reference no: EM131071739
The following is a classic distributive bargaining scenario, wherein each party is attempting to maximize their gains at the expense of the other. In this situation, Michelle is interested in purchasing a Toyota Highlander. Michelle has two dealerships to choose from (Toyota of Louisville and Green Tree Toyota). Although she has no desire to travel a long distance, there are dealerships in Cincinnati, Ohio and Indianapolis, Indiana that she could represent as alternatives as well. Michelle decides to visit Toyota of Louisville first and finds the vehicle she wants - a 2013 Toyota Highlander.
The Manufacturer's Suggested Retail Price (MSRP) for the vehicle is $29,865, while the factory invoice (the price paid by the dealership for the car) is $27,929. While Michelle only knows the MSRP for the vehicle, the dealer knows both the MSRP and the factory invoice price. Michelle has a trade-in, but she is unsure of whether or not to let the dealer know this, as she is unsure of what impact this will have on the dealer's initial offering price.
What should Michelle's negotiation strategy be (e.g., how much information should she share concerning where she is in the buying process, that there is a vehicle trade-in, that she is looking at other dealerships as well, that she knows the MSRP, whether and how much deception is ethical/allowable, etc.)
What do you expect the behavior of the salespeople to be when Michelle visits the Toyota dealership?
Develop a negotiation plan, including the characteristics of the opening offer, reservation price, tactics, tradeoffs, they should make, how to react if the seller bring up issues before you are ready to discuss them (such as whether you have a trade in vehicle). Do you have a Plan B if your original plan becomes untenable?
The requirements below must be met for your paper to be accepted and graded:
Write between 750 - 1,250 words (approximately 3 - 5 pages) using Microsoft Word in APA style, see example below.
Use font size 12 and 1" margins.
Include cover page and reference page.
At least 80% of your paper must be original content/writing.
No more than 20% of your content/information may come from references.
Use at least three references from outside the course material, one reference must be from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the three reference requirement.
Cite all reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) in the paper and list on a reference page in APA style.
References must come from sources such as, scholarly journals found in EBSCOhost, CNN, online newspapers such as, The Wall
Street Journal, government websites, etc. Sources such as, Wikis, Yahoo Answers, eHow, blogs, etc. are not acceptable for academic writing.
|
Difference-in-difference estimate of the demand elasticity
: Chipotle wants to run an experiment to estimate the demand elasticity for its customers who consume pork burritos. Chipotle raises the price of pork burritos 5% in half of its restaurants, but keeps the price of pork burritos unchanged in the other h..
|
|
About the perspectives of the business community
: The political culture of the U.S. As well as public opinion in the U.S. Establishes a unique context in which business government relations take place. Discuss this statement and include comments about the perspectives of the business community.
|
|
Identifying sources of miscommunication
: Choose one set of web pages from the following list and analyze the implied audience of these two web pages. (You only need to look at the home pages, but you can explore the sites more fully.) Answer the following questions:
|
|
How should this open-payment term be filled
: The concurring opinion by Judge Benavides offered a different explanation of how the contract was formed. Summarize his position. What about his position concerning the open-payment term on the purchase order? How should this open-payment term be ..
|
|
What should michelle''s negotiation strategy be
: Use at least three references from outside the course material, one reference must be from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the three reference requirement.
|
|
Describe many ways government affects economic activity
: Based on the Unit 2 lecture and unit readings, describe the many ways the government affects economic activity. Explain the positive aspects of this government involvement. Now, explain the negative aspects of government involvement. Finally, describ..
|
|
What were the terms of the contract
: Can Riea legally withhold the $ 450 being the value of the backlit drink holders? What were the terms of the contract? The ones in the email and or the oral conversation or only the ones on the signed paper
|
|
Find two examples of businesses in your local community
: Find two (2) examples of businesses in your local community that attempt to disclaim liability for damage to or loss of bailed property (usually, the disclaimer is in the form of a sign behind a cash register, or language on a ticket stub.) Examples ..
|
|
Determine the benefits cultural conflict
: Determine the benefits cultural conflict can bring to a multinational company.
|