Define negotiation and explain the basic steps in the negotiation process.
What will be an ideal response?
Negotiation is the process of bargaining with one or more parties to arrive at a solution that is acceptable to all. This process involves five basic steps: planning, interpersonal relationship building, exchanging task-related information, persuasion, and agreement. Planning starts with the negotiators identifying the objectives they would like to attain. Then they explore the possible options for reaching these objectives. Interpersonal relationship building, the second phase of the negotiation process, involves getting to know the people on the other side. This "feeling out" period is characterized by the desire to identify those who are reasonable and those who are not. In exchanging task-related information, the third phase of negotiations, each group sets forth its position on the critical issues. The fourth step of negotiation is persuasion, which is considered by many to be the most important step. Agreement, the final phase of negotiations is the granting of concessions and hammering out a final agreement. Sometimes, this phase is carried out piecemeal and concessions and agreements are made on issues one at a time.
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Open-ended questions that respondents answer in their own words are called unstructured questions
Indicate whether the statement is true or false
Discuss formal and informal marketing strategies and give examples of companies that follow these strategies
What will be an ideal response?
Archetype is a Unilever SBU that markets a number of different tea brands around the world. Each brand addresses the taste and emotions of local tea cultures. Which of the following would be part of Archetype's internal environment?
A) changes in the way people drink tea B) increased competition from a local tea producer C) government regulations of information on package labels D) marketing Archetype does to reach consumers and satisfy their cultural needs E) a shortage of tea leaves due to unusual weather conditions
The following data relate to direct labor costs for February: Actual costs 7,700 hours at $14 Standard costs 7,000 hours at $15 What is the direct labor rate variance?
A) $7,000 favorable B) $7,000 unfavorable C) $7,700 favorable D) $7,700 unfavorable