Bundle: Contemporary Marketing, Loose-Leaf Version, 17th + LMS Integrated MindTapV2.0 Contemporary Marketing, 1 term (6 months) Printed Access Card
17th Edition
ISBN: 9781337493819
Author: BOONE, Louis E., Kurtz, David L.
Publisher: Cengage Learning
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Question
Chapter 19, Problem 8ALR
Summary Introduction
To discuss: The difference between negotiated price and competitive bid.
The amount or value of funds that are required to buy a product is termed as price.
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Discuss non-price issues over which a buyer and seller can reach an agreement, and explain why each issue might be important to the buyer or seller?
Read the passage that attached and answer the following questions. I am the SELLER in this situation.
Given your role, what are the most important issues in the negotiation?
What is your BATNA? What is your reservation price? What is your target?
What parts of the scenario work in your favor?
consider a situation where you are negotiating with Wal-Mart for your family farm’s milk. Confronted with various hardball price challenges, what type of negotiation situation would you use: distributive or integrative and why? What are your key negotiating principles?
Chapter 19 Solutions
Bundle: Contemporary Marketing, Loose-Leaf Version, 17th + LMS Integrated MindTapV2.0 Contemporary Marketing, 1 term (6 months) Printed Access Card
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- If you are the project manager for a medical health services project and you need to procure medical supplies for the project, however after you have developed a contract and agreed with the local pharmaceutical company they send you correspondence that the prices have changed What would happen if the contract was not signed by the buyer and the seller?arrow_forwardTwo insurance companies that manage employee benefit programs are bidding for additional business in their area of expertise at a market rate of $200 per hour. The potential customers refuse to leave their current suppliers and award benefit management contracts to the new firms unless billing rates are cut by $50. Abbott, Abbott & Daughters (AA&D) decides to do just that. Your firm, Zekiel, Zekiel & Sons (ZZ&S), must decide whether to match the price cut and then allow customers to choose randomly between the two firms, or whether to lower rates still further to $100 per hour. Past experience suggests, however, that the price cutting may well not stop there. The clients will surely take their best current offer back and forth between the two firms, forcing a downward price spiral. The question therefore is, “How low will you go?” Crucially, this game has a stopping rule: At a price below the $40 cost, the additional business becomes unprofitable and must be refused.…arrow_forwardWhat are the different kinds of price adjustments? In which situations do companies use each one?arrow_forward
- What might make it difficult to determine the prices of one’s competitors? When such difficulties occur, what could be done to surmount them?arrow_forwardWhat enables good contracting and negotiations?arrow_forwardIf you consider the payoff from entering into a forward contract does the buyer have more to gain going long than the seller has to lose going short, profits if the price of the underlying at expiration exceeds the forward price and/or gains from owning the underlying versus owning the forward contract are equivalent? Explain why one or more of the options above are correct. Secondly explain why, if any of the remaining options are incorrect.arrow_forward
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