Todd had been looking to buy a boat for several months. He h…

Todd had been looking to buy a boat for several months. He had been looking diligently but couldn’t quite find what he was looking for. After looking what seemed like everywhere he finally found just what he was looking for, a beautiful 2005 Ranger Bay boat with a custom made tarpon tower. Though the boat wasn’t a rare boat, the custom made tarpon tower was just what he wanted. When he met the salesman at the small boat dealership he could hardly contain himself. He told the salesman he had been looking for months without luck and had finally found his perfect boat. He said that he was ready to get the paperwork done and take the boat home that very night.  Todd made which of the following mistakes? Might have multiple answers    

Josh and Sean have just started a negotiation to purchase a…

Josh and Sean have just started a negotiation to purchase a boat. Josh is the sales agent and Sean is the prospective buyer. As the negotiation begins, Sean tells Josh about what he’s looking for in a boat and the price range he is trying to stay in. Josh answers back and tells Sean about the different options he has available and also tells Sean that he’d be willing to show him some options that are JUST out of his price range so that he can get a better idea of how to compare prices. Which of the following terms best describes what happened in this negotiation up to this point?          

 While in Las Vegas, Sausaun stops at a roulette table and p…

 While in Las Vegas, Sausaun stops at a roulette table and places a $5 bet on black. After it comes back red, Sausaun bets $10 on black, looking to recoup his losses. During a string of 8 reds and one double-green, Sausaun continues to raise his bet, counting on a black hit to return his money. Soon, Sausaun is betting hundreds of dollars per spin of the wheel. Sausaun’s gambling behavior is an example of:    

Tom is selling his house and Jeff is interested in buying it…

Tom is selling his house and Jeff is interested in buying it. Jeff makes an offer for Tom’s house, which is well below Tom’s listed asking price. Tom and Jeff sit down to negotiate further. Tom says he would be willing to “meet in the middle” and accept a price in the middle of his ask price and Jeff’s offer price.  Jeff responds by saying he has no interest in raising his offer price, and that his initial offer is his final offer. Based on this exchange alone, which of the following best describes Jeff and Tom’s bargaining styles?        

Brian wants to buy his brother a new iPad Mini for Christmas…

Brian wants to buy his brother a new iPad Mini for Christmas. However, the stock of that product in Apple stores is so low that he knows his chances of buying one at the mall are slim. Instead, he searches for it on EBay and begins the bidding process. The seller knows that Brian and others want the iPad Mini and don’t have many alternatives to the online marketplace. Because of this _______, the seller’s reserve price is very high, which leaves Brian with little choice but to pay too much.  

Jack was driving to work the other day and got pulled over f…

Jack was driving to work the other day and got pulled over for failing to yield to oncoming traffic. When the officer walked up the window Jack immediately tried to negotiate with the officer and talk his way out of the ticket, which carried a $150 fine and did not require a court appearance. Assuming Jack would never encounter the police officer again, this negotiation is an example of a  

Rising Stars is one of the best live music venues in town, o…

Rising Stars is one of the best live music venues in town, one where award-winning record producers and studio moguls go frequently to scout for new talent. In fact, virtually every band that has landed on the charts in the past five years played at Rising Stars earlier in their careers. Dan and the Diminished Fifths (a semiprofessional jazz band) are meeting with Tony (a man of questionable character) tonight in his smoky backstage office to see if he can book them for an entire week at a competitive rate. The band knows that their chance at stardom lies in getting this gig, and Tony (being the gatekeeper) knows that he has most of the leverage. After some back and forth negotiating, Tony says to them, “Look guys – I know you usually get $200 a night, but all I can offer you is $400 for the entire week and a nightly bar tab. You need to decide now, though, because I’ve got lots of other bands that are interested.” Which of the following best describes the tactic Tony is using or exploiting?    

Terry, a design engineer, has always wanted to work for a ma…

Terry, a design engineer, has always wanted to work for a major automotive manufacturer. She is interviewing with Chrysler for a position in ergonomic design. These positions are extremely rare and highly sought after. The position would be a dream job for Terry. Terry also knows that the new owners of Chrysler have been pushing for low salaries and are considering cutting tuition reimbursement benefits. These are important concerns for Terry because her husband, Bill, is planning to return to school, and she will be the sole provider for the 3 years it takes for him to complete law school. In this negotiation