MKT 337 2/9/15-2/13/15
MKT 337 2/9/15-2/13/15 MGT 301: Human Resources
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This 2 page Class Notes was uploaded by Lauren Keiffer on Friday February 13, 2015. The Class Notes belongs to MGT 301: Human Resources at University of Alabama - Tuscaloosa taught by Michael Howe in Spring2015. Since its upload, it has received 116 views.
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Date Created: 02/13/15
2915 0 Negotiating In this case we will be negotiating cost Ideal cost that we want them to go for is 185 per unit The lowest thing we are allowed to sell the product for is 150 Once the buyer makes the counteroffer focus on the reasoning behind that counter if they don t give you a reason in the rst place then ask for it Then you match their reason with your reason Pitch the counter reason before you pitch the number 140 New product Old company 178 160 New market Growth market 164 150 Soft brand 150 Unpredictable ls new product a good reason for asking for a signi cant discount No Yes there are risks but all of the products in Walmart stores once started out as new Counter response We are launching this new product with a tremendous amount of backing We are Frito Lay We are well established in the snack category already Doritos Cheetos and Fritos all already successful with Walmart ls new market a good reason for asking for a signi cant discount Walmart s normal demographic is older than millenials It s not there usual market Counter response It might not be your target market right now but lets talk about the statistics again You have to connect and sell to this market at some point if you want to be successful in the future refer again to your marketing support you will use to capture this new market Is this is a soft brand a good reason for asking for a signi cant discount Munchies is new brand Yeah you have doritos to go Cheetos to go etc But no one knows what munchies is Counter response It might be a new brand that no one knows about yet but we have such strong marketing support behind this launch that we will make people know this brand Is this an unpredictable situation They are really unsure Counter response Go back with the sales projections We are FritoLay we are the snack category 0 Transition After negotiations end and you come to an agreement Then all you have to do is summarize that agreement If you cannot come to an agreement and keep going back and forth Then you want to identify what kept you from making that agreement soft brand etc and ask the buyer if you can follow up with them on that point with more information 21115 Role play of closing section 21315 Role play day New product Refer back to past successful launches how much revenue did Cheetos or doritos bring into the snack category in the past Munchies is not a well known Frito Lay brand Lack of awareness might hinder sales Soft brand in question respond with cobranding or marketing support Refer back to packaging for easy consumer recognition Objection Have to make shelf space for this new product but respond with you don t need shelf space we have the on the go display
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