What will be the outcome of the negotiation and why

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Reference no: EM133560022

Problem

Jake was getting ready to buy a truck. He worked two jobs, saved his money, and was finally ready. Jake's family friend Leo was selling his 2014 Chevy Colorado. Jake thought it could be a good buy since he knew Leo took good care of the truck and the used car market is crazy right now. Jake had scraped together $18,000 total to buy a vehicle. He was hoping to buy something for $12,000-$14,000, so he could take some of the money left over to pay for insurance, tax, and tags. Jake's Dad said he would chip in $1,000 since he worked so hard and told him it was a birthday present.

Leo was finally ready to buy that monster Chevy Silverado so he can tow his new boat. He needed to sell his smaller 2014 Chevy Colorado. He took decent care of it and it only had a couple scrapes here and there. Kelley Blue Book says that in good condition he could ask $16,000-$17,000 for it. He figured he could get $14,000-$15,000. He needed at least $12,000 to put down on his new truck. Jake stops over at Leo's house to check out the truck and chat.

I. Okay, walk me through all of the important pieces of the distributive bargaining situation using the case between Jake and Leo (here's a hint: think resistance point, etc). Please explain the pieces thoroughly.

II. Give me three tactics that either Jake or Leo could take and explain them.

III. In your opinion, what will be the outcome of this negotiation and why?

Reference no: EM133560022

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