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1. What kind of negotiation is it?
- Distributive Win-Lose
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Context
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Assumptions
- They dont trust us
- They are not master of the market, they need help
- Targeting the wealthy men
- Upgrade the ability of the sales force
- Upgrade the company brand
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2. What are the goals, BATNA, ZOPA of each side?
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Goal Setting
- Sell pink stock which has high risk but big commission
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BATNA
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Stratton
- Get to the next customer
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The customer
- More expensive stock and brokers
- No investment
- Other brokers
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ZOPA
- Stratton
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The customer
- Very big because they are the rich men, so they do have money to invest
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3. What negotiation strategies do the parties use?
- Introduce the famous companies first
- Introduce next the high-reward
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Attack to Fear of Missing Out
- By the time you read about it it is too late
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Prepared to deal with their biggest concern (stranger) - completely agree with you
- "Legit" company names
- "Legit" position
- Establish personal goal - Being the top broker
- Establish the alignment between sale man goal and the customer goal
- Talk about high reward
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Talk about future, long term relationship and success
- You can trust
- Consistently make you money
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Do not GIVE the first offer. Do not speak first.
- The only thing you will regret is not buying more
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Snowjob
- Overwhelming with information
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Intimidation
- Trigger emotion (Fear of Missing out)
- Be prepared to ignore the noise
- Congrats them
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4. What are the challenges that are major in the scene?
- Gain trust by giving screened information
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5. Is there any power and influence at play?
- Brand Power
- "Fake" Vice President
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6. Is a third party involved?
- No
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7. Are there any ethical issues that you see?
- Deception tactic
- Customer decision
- Investments for the small companies