BSMH 5113
BUSINESS NEGOTIATIONS

CASE STUDY

Developing a Strategic Negotiation Plan:
Toyota Highlander

By
814284 - PRIDHIVRAJ NAIDU
18th May 2013

The Case:
As Michelle Tipton read through the brochure for what seemed the tenth time she found herself nodding in agreement. “The new Highlander. An unexpected bit of comfort in the rugged world of the SUV. Breaking new ground is nothing new to Toyota, but this time around, we've built a vehicle that boldly redefines everything you've come to expect from a sport utility vehicle. Highlander gives you uncommon comfort and unparalleled smoothness in an unmistakable form. It's designed for those drivers who crave the versatility and space of an SUV, but aren't willing …show more content…

Explain the negotiation process

1. Preparation:
Miss Michelle has collected detailed information including the MRCP to have a clear picture on the pricing and incentives received by the car dealer. Through discussing Miss Michelle and Lacey are also well aware of their financial situation and clear on the steps they are planning to take during the course of the business.
2. Relationship building
Miss Michelle and Lacey would have to make a warm up meeting with the chosen dealer; they may have a look around and test driving to build repo to provide the sense of commitment and interest to the dealer. This would create interest and serious negotiating atmosphere for the serious matter to take place.
3. Information gathering
Even though well aware of the financial and business situation of both sides, the buyers may allow the dealer to explain to them of price offered and the details. To be updated of any changes or latest deal the seller could offer. This information gathering session could be used by the buyer to express their interest through mild body language such as nodding or otherwise.

4. Information using
Based on the information gathered from the preparation and also the information gathering, Miss Michelle and Miss Yale could begin their discussion and bargaining with the dealer to offer a better or