What were your opening, target and resistance points?
In this project I created three scenario’s with three possible outcomes. Throughout the project the opening price, target price, and resistance points remained consistent for both roles. In scenario one where I played the buyer the initial offer was $8,000, the target point was $8,800 and the resistance point was $9,000. In scenario number two where I played the seller the initial offer was $10,500, the target point was $9,500, and the resistance point was $9.400.
What did you think your opponent’s opening target and resistance points were?
I played both parts in this specific project so I knew what the prices would be throughout the three scenarios. I came up with these numbers using mathematical …show more content…
There were three BATNA’s for my specific project. The first would be to pay the price the buyer wanted in exchange for a tank of gas as a kind gesture. The second and third were in scenario three when both the buyer and seller went their separate ways and looked for other options that better fit their needs.
Who made the first offer?
In scenario one I gave the buyer the advantage and the seller made the first offer. In the second scenario I gave the seller the advantage and the buyer made the first offer.
Did it anchor the negotiation?
I believe that in both scenarios it anchored the negotiation because generally the person making the first offer is more likely to make a deal. This will then lower the resistance point and give your opponent the advantage throughout the negotiation.
After a few offers and counteroffers, could you identify the zone of positive agreement (also called the bargaining zone)?
Throughout the first two scenarios there was some positive agreement because both parties would have to lower their opening price in order to make a deal. In both deals I believe the buyer and seller would have received fair value but the winner depended on who controlled the situation.
Did you try any hardball tactics? What were the results?
In both of the first two scenarios I used hardball tactics to give the buyer or the seller an advantage. I believe playing hardball puts you in control of a negotiation as long as you remain knowledgeable and consistent with your
In this project I created three scenario’s with three possible outcomes. Throughout the project the opening price, target price, and resistance points remained consistent for both roles. In scenario one where I played the buyer the initial offer was $8,000, the target point was $8,800 and the resistance point was $9,000. In scenario number two where I played the seller the initial offer was $10,500, the target point was $9,500, and the resistance point was $9.400.
What did you think your opponent’s opening target and resistance points were?
I played both parts in this specific project so I knew what the prices would be throughout the three scenarios. I came up with these numbers using mathematical …show more content…
There were three BATNA’s for my specific project. The first would be to pay the price the buyer wanted in exchange for a tank of gas as a kind gesture. The second and third were in scenario three when both the buyer and seller went their separate ways and looked for other options that better fit their needs.
Who made the first offer?
In scenario one I gave the buyer the advantage and the seller made the first offer. In the second scenario I gave the seller the advantage and the buyer made the first offer.
Did it anchor the negotiation?
I believe that in both scenarios it anchored the negotiation because generally the person making the first offer is more likely to make a deal. This will then lower the resistance point and give your opponent the advantage throughout the negotiation.
After a few offers and counteroffers, could you identify the zone of positive agreement (also called the bargaining zone)?
Throughout the first two scenarios there was some positive agreement because both parties would have to lower their opening price in order to make a deal. In both deals I believe the buyer and seller would have received fair value but the winner depended on who controlled the situation.
Did you try any hardball tactics? What were the results?
In both of the first two scenarios I used hardball tactics to give the buyer or the seller an advantage. I believe playing hardball puts you in control of a negotiation as long as you remain knowledgeable and consistent with your