3038MKT Sales And Negotiation - Group Negotiation Simulation

3038MKT Sales and Negotiation - Task Description

Title:   Group Negotiation Simulation

Type:  Group work (up to 5 students per group)

Tasks: The Negotiation Presentation will be in week 11 or 12 (in class), and

Group Report (up to 2,000 words report to support the Negotiation Presentation)

Learning Outcomes Assessed: 1.2, 1.3, 1.4, 1.5

Due Date:

Week 11 or 12 (in class)

Weight: 40%

Marked out of: 40

40 marks – the 40 marks will be mainly based on the Negotiation Presentation. The Group Report will be used to support the negotiation presentation. It will also showcase how each team prepared for the negotiation stages.

1. The Negotiation Presentation

The Negotiation Presentation will be in Week 11 or 12 (i.e. in class or online collaboration). This is a simulation activity. There will be two groups of a participant in this simulation, i.e. (1) Seller and (2) Buyer. Both of the Selling and Buying teams would have a specific set of objectives in buying or selling. Each pair of groups will be randomly assigned the role of a Buyer or Seller.

Both of the Selling and Buying teams would have a specific set of objectives in buying or selling. The teams that meet their buying or selling objectives would receive a suitable mark.

Roles of the Selling and Buying teams

• Teams that are in the same Negotiation Presentation will receive the same product at the start of the activity. You will learn about your product in class during the group formation.
• Both of the Selling and Buying teams would have a specific set of objectives in buying or selling.
• The teams that meet their buying or selling objectives would receive a higher mark.
• You will lose 50% of the mark in the event that you let your opposite team know your real objectives.
• Finish the simulation within 20 minutes. The teams would have 5 minutes to set up equipment at the table if any and get comfortable.

1. Group Report

The students MUST also submit an up to 2,000 words report to support their Negotiation Presentation. In particular, the structure of the report must contain the following key sections:

1. Title Page (Not included in the word count)
2. Introduction

• What is this report about?
• Structure of the report

3. Background Analysis (Industry, Competitor, and Consumer)

3.1 Industry Analysis: 

Firstly, you should gather information on the industry as a whole. For example:

• What is the size of the industry?
• What are the recent trends in the industry?
• What is the industry potential? E.g. Growth rate, industry life cycle, etc.
• Any information about the industry that could be useful for your decision-making

3.2 Competitor Analysis: 

Now you need to determine who are the main competitors in the industry. For example:

• Who are the key players?
• How do the main competitors differentiate themselves in the marketplace, i.e. what is their positioning strategy?
• What are the most common forms of Sales Approaches among the main competitors

3.3 Consumer Analysis: 

Now you need to provide a description of the consumer market associated with the product category. For example:

• Who are they? (e.g. their demographic, psychographic, geographic, and behavioral characteristics)
• What are the issues facing consumers of this product category?
• What are the factors important to consumers when making the purchase/consumption decisions in this market?
• Are they influenced by others? Do they make the purchases themselves?
• Are there particular consumer needs not being met in the current marketplace?

3. Six Stages of Negotiation (See Module 8) – This is the main section of the report

• Preparation and Planning
• Definition of Ground Rules
• Exchange Information
• Bargaining and Problem Solving
• Agreement and Implementing a Course of Action
• Follow up for long term relationship

4. Conclusion

• Summary of the key issues, opportunities, and recommendations

5. References (Not included in the word count)

A reference list should be included. A minimum of 10 references is expected. References should include a good mix of business and academic sources. You must use the American Psychological Association (APA) referencing style. There is an APA referencing guide included under the assessment details folder on Learning@Griffith.