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ESSAY: Emerging markets

Assignment 2: Negotiation Plan
When negotiating in an emerging market, it is critical to understand a variety of internal and external workings of the country in which you will be launching a product. For example, the negotiator would need to understand the emerging market’s regulatory environment, the market itself, distribution channels, supply chains, tariffs, taxes, and culture.
Your team is negotiating a new product launch with an emerging market in Asia, and your company needs to negotiate the specifics for the product launch. You are the lead in your company’s negotiation team and you have been asked to create and distribute a Negotiation Plan that includes strategies, tactics, guidelines, and a pre- and postmeeting checklist.
Do the following to complete this assignment:
First, create the negotiation strategy for your company.
Then, provide an explanation of the stages to the rest of the negotiation team.
Identify and explain your planned negotiation tactics.
Finally, identify factors which may affect your company’s negotiation plan.

ANSWER

In the business world, negotiation can be defined as the mutual discussion of the terms of a transaction. Usually, two or more parties participate in the bargain seeking an agreement that is mutually acceptable by both parties (Steele & Beasor, 2017).

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            The negotiation strategy embraced by the company will be geared towards launch of the product in the new market. Key tactics under consideration include the market, regulatory environment, supply chains, tariffs, distribution channels, taxes, and the local culture. The main mode of communication will be email so that we can have the time to carry out situational analysis and make informed counteroffers. Our main goal in the first phase will be to ensure initial product launch with the aim of expanding in future. All aspects of the negotiation plan will be clearly articulated to ensure that each involved party is well informed on …

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