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When shopping for a used piano, Orvel Ray answered a newspaper ad. The piano was a beautiful upright in a massive walnut cabinet. The seller was asking $1,000, and it would have been a bargain at that price, but Orvel had received a $700 tax refund and had set this windfall as the limit that he could afford to invest. He searched for a negotiating advantage. The seller is not willing to sell the piano for less than $400.
He was able to deduce several facts from the surroundings. The piano was in a furnished basement, which also contained a set of drums and an upright acoustic bass. Obviously, the seller was a serious musician, who probably played jazz. There had to be a compelling reason for selling such a beautiful instrument.
Orvel asked the first, obvious question, â€œAre you buying a new piano?â€ The seller hesitated. â€œWell, I donâ€™t know yet. See, weâ€™re moving out of the province and it would be very expensive to ship this piano clear across the country.â€
Orvel â€œDid they say how much extra it would cost?â€
Seller â€œThey said an extra $300 or so.â€
Orvel â€œWhen do you have to decide?â€
Seller â€œThe packers are coming this afternoonâ€
- Provide the BATNA for both the seller and Orvel. (4 Marks)
- What is the target point for both the seller and Orvel? (4 Marks)
- Based on the information in the case, what is the resistance point for both parties? (4 marks)
- What is the Bargaining Zone in this case? (4 marks)
- Name one tangible and one intangible factor of this negotiation (4 marks)
Tangible factor â€“
Intangible factor –