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Question
Mike had been negotiating with a Japanese company for distribution rights for five days. He was afraid he was going to lose the contract, so at the last minute he decided to lower the price. They accepted the next day. What mistake did Mike make?
A) He should have come in with a low price at the outset.
B) He should have had a written concession plan before he began the negotiation.
C) He should have given the Japanese negotiators a menu of options including the lower price.
D) He should have avoided all concessions.
E) He should have deferred to his superiors.
Answer
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Related questions
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A) effectively communicate the problem and objectives to decision makers.
B) analyze, interpret, and summarize the results.
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E) evaluate the cost and benefits of the research effort.
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What is the first step of the marketing research process?
A) determining the sources of information to fulfill the research objectives
B) analyzing, interpreting, and summarizing the results
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