The Importance of Planning a Negotiation Strategy for Sales

Topics: Nonverbal communication, Regulatory Focus Theory, Negotiation Pages: 7 (2430 words) Published: May 27, 2013
Post Diagnosis Paper #2| Oceania!|
Role of Seller, General Sales Manager, POP Productions| Mark Peterson W00927582|

In preparing for my Oceania negotiation I had to prepare myself to take on the role of the general sales manager for POP Productions. In doing so I read the role of the general sales manager and all the information that would be influencing and guiding my negotiation with the general manager of Windy City Theater about bringing in my Polynesian musical called Oceania. I read and analyzed this information multiple times until I had a complete understanding of the situation I was about to be submerged in and the responsibilities/duties I was obligated to fulfill. After completing this task and recognizing what my goals were I had to decide what strategy and type of negotiation I should use in order to plan appropriately and arrive at the goals assigned to me by POP Production. It was made clear that my goal was to structure a contract/deal with Windy City Theater that would outline an agreement concerning profit sharing of the box office tickets, salary amounts paid to my cast and crew, and who would be responsible for lodging/board costs. Having a lot of criteria and alternatives revolving around these three negotiable components, it created a wide range of bargaining mixes. With further research and exploration of information regarding WCT it was obvious that I did not have a clear understanding of their exact goals and priorities when it came to hosting a show in their theatre. Recognizing this blind spot and the importance to keep a positive and healthy relationship for the possibility of future business (Bugles); I decided to choose collaborative negotiation that would aim to create a settlement that fully satisfies all parties. After conceptualizing the information and present situation it had clearly outlined the necessary conditions that characterize collaborative negotiation and reinforced my theory that I was heading down the right path. It is these following conditions that define the relationship and motive of my negotiation: * Potential for mutual gain

* Fundamental motivation
* High aspirations
* Laborious and tedious
* Problem-solving orientation
* Required to work through issues
* Premised on relationship building
* Dilemma of honesty and trust
Having my goals and strategy identified I was able to start the planning phase of my negotiation by creating a planning document. I outlined and organized information on both parties to the best of my knowledge relating to the topics of goals, background information, important issues, BATNA, resistance points, and target points. Once I had the raw data in front of me on my planning document I continued to outline the necessary steps to successfully implement my strategy. There are seven main steps which structure and make collaborative negotiation successful. It is these seven steps that I added to my planning document to ensure that I acted in the right way and followed the appropriate steps and rules of collaborative negotiation. 1. Define the problem and goal

a. It is important that you keep it simple in the beginning as you are trying to build friendship and trust. b. I simply shared my three goals without any numbers or solutions attached to them. 2. Identify interest

c. This is where I can try and figure out what WCT’s substantive interests are and what their priorities are. 3. Identify the obstacle
d. This is where I planned to “open up” in a friendly way to find out what stands between me and my goals. 4. Develop Criteria for solutions
e. This is where I planned to determine what WCT is interested in, in order to close the deal. 5. Have a frank discussion about pooling resources
f. This is where I planned to talk about my other show Bugle and additional revenue generated from autograph signing sessions. 6....
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Negotiation Strategy Planning Essay
  • David Jones
  • Strategy Planning Essay
  • Negotiation Planning Essay
  • Importance of Negotiation: Planning Essay
  • Essay about The Importance of Negotiation
  • Negotiation Strategy Essay
  • Negotiation Strategies Essay

Become a StudyMode Member

Sign Up - It's Free