2.Plan the Negotiation2
2.1.Music Store Overview and the existing Relation with Gibson2 2.2.The Lead Negotiator3
2.3.Identify and Prioritize objectives3
3.Defining the negotiation strategy5
3.1.The ocean approach7
The present report intends to briefly describe a negotiation strategy in order to successfully build a global partnership between the world famous guitar manufacture – Gibson and one of the major European retailers in the business - Music Store, a company based in Cologne, Germany.
The report will focus on the power of the knowledge and preparation of possible case scenarios in order to perceive successfully the goals previously defined. 2.PLAN THE NEGOTIATION
In a Negotiation process, information is a key success factor. Is only possible to ensure that our best interests are being met if every detail of the negotiation we’re about to engage was already analyzed.
In order to successfully obtain a plan for the negotiation it’s important to have a set of points well-know. Gathering information and acquire knowledge are important ways to prevent ourselves to be caught unaware and thus losing a great chance for build or gain something.
2.1.MUSIC STORE OVERVIEW AND THE EXISTING RELATION WITH GIBSON
Created in 1972, Music Store is a major retailer of music products. Based in Cologne, Germany, the store is a reference in Europe and conducts its business not only physically in it store but has a major presence on the internet where have become an important player. Music Store invested in an impressive logistical system so it has the capacity to delivery fast to their worldwide clients.
Relating Music Store directly to the guitar business, Music Store has in its catalogue hundreds of guitars, from different price ranges and types of guitars. Their business it is based not only on fast delivery as stated before but also in the quality and quantity of the offer and the aggressive promotions. Gibson has a big share of the guitar offer present in Music Store; nevertheless, there isn’t any Top Ten Guitar Sellers from the Gibson Brand.
Gibson as an American Company, although known worldwide, has the need to establish itself as a Global Brand. The European market presents itself as logical step towards this strategy.
The Music Store, due to its positioning in the music market and its importance as major player on it, presents as an important partner for Gibson in Europe.
2.2.THE LEAD NEGOTIATOR
As Germany Company based, Music Store is most probably within the set of major guidelines that define German Business Culture. In order to fully prepare a negotiation is important to now the culture of those whom we are about to engage. The Partnership Manager of Music Store in order to build a business relationship with him should be treated being aware the specificities of the German culture.
Contrary to some Latin or Asian cultures, Germans don’t need to have a personal relationship in order to do business, however they value the credential of the people and the companies. This point should be taken in account because Gibson is a world player with an enormous prestige and that should be used in our behalf.
In addition, it’s important to clearly specify the hierarchy of everyone who enter in the negotiation because that is widely appreciated. The formal communications and the following of the protocol are critical. At last, is important to know that agendas are welcomed as Germans tend to have a direct-to-business approach (World Business Culture).
2.3.IDENTIFY AND PRIORITIZE OBJECTIVES
The Gibson goal with the negotiation now presented is establish with Music Store a Global Partnership. A global partnership may be directed toward several aspects, as a partnership to enter in a specific market or distribute a specific article. At this point we will define goals and sort them...