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.