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Your Task
You will engage in a negotiation for a celebrity endorsement advertising campaign.
Assessment Description
You may be nominated to represent the advertising corporation and will receive email instructions from the company CEO including:
Appointment to represent the company as their agent for the negotiation of the endorsement contract;
Specific instructions about the desired endorsement contract fee and advertising campaign timeframe;
Information about the projected revenue to be raised from the advertisingcampaign;
Contact details of the agent appointed to represent thecelebrity.
Alternatively, you may be nominated to represent the celebrity and will receive email instructions from the celebritys manager including:
Appointment to represent the celebrity as their agent for the negotiation of the endorsement contract;
Specific instructions about the desired endorsement contract fee and advertising campaign timeframe;
Information about the projected revenue to be raised from the advertisingcampaign;
Contact details of the agent appointed to represent the advertisingcompany.
Assessment Instructions
Stage 1: Pre-negotiation
You must answer the following questions:
What is your clients BATNA? What is your clients reservationvalue?
What is the other partys BATNA? What is the other partys reservationvalue?
What is the ZOPA range? What is your strategy for creatingvalue?
Stage 2: Negotiation
Enter negotiations with their counterpart for the endorsementcontract;
Maintain a communications log that captures the date, method, items discussed, and outcomes of eachcommunication.
Stage 3: Post negotiation
You must prepare a 1 page letter to your client advising the outcome of the negotiation.
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