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Negotiation Case

In: Business and Management

Submitted By kfang
Words 660
Pages 3
Earlier this week I was looking into selling a 64GB 3rd generation iPad that I no longer wanted. I had bought it used about a year ago for $300 and was looking to sell it for around the same price, setting my reservation price to $275. I made a post on the school’s “Free and For Sale” Facebook page and was contacted by a potential buyer soon after.
I determined that this was a Transactional Situation and that it was a zero sum negotiation, where no value could be created. According to Richard Shell in Bargaining for Advantage, in a Transaction, one should only open if she/he has good information and should open optimistically. I decided that I needed to open, as I believed that my information regarding the quality of the product and price precedence was substantially greater than the buyer’s, as had done research when I was looking to buy. I opened with a price of $350 and stated that I had barely used it, knowing that the buyer would negotiate it down. She then asked to set up a meeting to look at it. I had initially been worried that the entire interaction would be via messaging, where I wouldn’t have the ability to establish rapport with the counterpart before determining the end price.
Before our meeting, I created a list of issues I wanted to cover, making sure to prepare well for this interaction. When we met, I was sure to engage in some small talk with the buyer. We established that she was on the cheer team at Penn, and I mentioned that I was good friends with a few of her teammates, which allowed us to establish rapport early in the interaction. I then eased our conversation to discuss her interest in the iPad. She said that she was looking for a light device to bring to class to take notes. In class, we discussed that the best negotiators spent 21.3% of the time asking questions, significantly more time than the average negotiator. I kept this in…...

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