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:
1. Appointment to represent the company as their agent for the negotiation of the endorsement contract;
2. Specific instructions about the desired endorsement contract fee and advertising campaign timeframe;
3. Information about the projected revenue to be raised from the advertising campaign;
4. Contact details of the agent appointed to represent the celebrity.
Alternatively, you may be nominated to represent the celebrity and will receive email instructions from the celebrity’s manager including:
1. Appointment to represent the celebrity as their agent for the negotiation of the endorsement contract;
2. Specific instructions about the desired endorsement contract fee and advertising campaign timeframe;
3. Information about the projected revenue to be raised from the advertising campaign;
4. Contact details of the agent appointed to represent the advertising company
Assessment Instructions
Stage 1: Pre-negotiation (700 words)
You must answer the following questions:
1. What is your client’s BATNA? What is your client’s reservation value?
2. What is the other party’s BATNA? What is the other party’s reservation value?
3. What is the ZOPA range? What is your strategy for creating value?
Include at least fifteen academic references in your answers to the above questions with a minimum of five references coming from academic journals. .
Stage 2: Negotiation (300 words)
You must:
1. Enter negotiations with their counterpart for the endorsement contract;
2. Maintain a communications log that captures the date, method, items discussed, and outcomes of each communication. .
Stage 3: Post negotiation (400 words)
You must prepare a 1 page letter to your client advising the outcome of the negotiation.
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