Chapter 1 Negotiation Role Play – BUYER

Caution – Only read the role play that you will be performing (don’t look at other side).  

This negotiating scenario is non-specific to any industry. It is a basic negotiation that could be common to any sales situation.

You will be negotiating with a fellow student – one of you is playing the role of the Buyer and the other will be the Seller.

You will use your skill to negotiate the best deal possible.

You will be given 20 minutes to read the scenario and prepare your negotiation strategy.

You will have 15 minutes to work toward a deal with your negotiating partner.

Begin when you are ready.

You will need to determine your strategy for the negotiation. Write in your plan for the following on the scenario:

• Opening Price
• Target Price
• Walk-Away Price

You may write as much as you like on the paper.

The Role Play is to be recorded. Each person is to submit (independently) their own Open, Target, and Walk-Away that you initially planned. One person on the team should submit the video with full names of the participants.

BUYER

Situation:

Your grandfather gave you an Omega watch [1960 Omega Constellation with Pie Pan face]. He wore this watch during the Vietnam War. His Dad gave it to him prior to leaving for Vietnam. Your Grandfather told you that during those terrible times of war, he would look at his watch and it would remind him of home.

The day that he gave the watch to you, he explained that he has fallen ill. He wanted you to have the watch so that each time you looked at it, during the tough times, you would remember him.

Problem:

Two months ago, you were working out with friends in the gym. The watch came off of your arm and fell to the ground; breaking the crystal glass and the “pie pan” face.

You took the watch to a reputable shop. The watchmaker explained that he may be able to find a crystal for a couple of hundred dollars. However, there are no “pie pan” faces available. He suggested you look for a “parts watch” in order to obtain a crystal and pie pan face.

You have seen an Omega Constellation on a popular auction web-site. It is in your town. The Seller agrees to meet with you. The watch appears to be poor shape and the case is not very good; but it runs. The crystal and face would be a good fit for your watch, if you can make a deal.

Other Details:

An Omega Constellation Pie Pan watch like your Grandfather gave you is worth about $1,500. Depending on the shape, some go much higher. These watches are highly collectable. Grandfather is coming to visit in two weeks. You have tried to find other watches. The task has been very difficult.

You are resolved that this may be one of your only chances to get a watch like this. You must make a deal. It would break your Grandfather’s heart to see the watch in a broken condition.

The watch you are looking to purchase is in rough shape. Fortunately, the crystal and pie pan dial are in good shape; equal to your Grandfather’s watch. You have $2200 in Savings.

Instructions:

You are playing the role of the buyer. Your goal is to negotiate a deal for the watch. Remember to develop your Plan.

Opening Price__________________

Target Price __________________

Walk-Away Price __________________