Used Car Field Research Report

This report discusses the negotiation process between the buyer and seller of Hyundai Elantra GT. It covers negotiation techniques, strategies, and tactics used by both parties. The report provides recommendations for effective negotiation. The document type is a research report and the type of assignment is a field research report. The subject is not mentioned. The course code, course name, and college/university are not mentioned.

Used Car Field Research Report
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Table of Contents
Introduction.................................................................................................................................................3
Negotiation Fundamentals...........................................................................................................................3
Conclusions and Recommendations............................................................................................................5
References...................................................................................................................................................7

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Introduction
Hyundai Elantra GT is the car that has been negotiated by the buyer and the seller. The
car had been launched in 2018 which has a sporty hatchback designed with impressive comfort,
space, and style. It is designed efficiently and is powerful to have technology at the fingertips of
the person who buys the car. The dealership of this particular car is go Auto which is located in
Edmonton, Canada. All types of used car are available in go Auto. The buyer is highly interested
in buying this car due to its extraordinary features such as 2.0 L GDI 4-cylinder engine, 6-speed
automatic transmission with shiftronic manual mode. It also possesses 8.0 touch screen display
along with apple or android car play, panoramic sunroof, premium cloth surfaces, blind spot
detection and much more. The price range set by the buyer to buy this car is $15,500 whereas,
the price range set by the seller to sell the car is $20,499.
Negotiation Fundamentals
The negotiation process helps in analyzing that the seller and the buyer seek to gain profit
by implementing appropriate negotiation techniques. The seller is highly interested in selling the
car at a rate through which he could gain huge profit within the market (Baarslag, Hendrikx,
Hindriks & Jonker, 2016). Whereas, the buyer is interested in buying this particular car by
paying a low price. Both the parties possess certain power and rights to set a price range that
would benefit both of them to a great extent. In order to execute this negotiation process, both
the parties have their own set of strategies. The seller used the strategy of competitive prices,
while the buyer made the offer unconditional and it was regarded as one of the most compelling
strategies (Zarei, Hassannejad & Ganjouei, 2016). While executing the process of negotiation,
there were few negotiation tensions among both the parties. With the help of these strategies,
both the parties were able to manage their negotiation tensions effectively (Lyu & Oh, 2015).

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Use of the competitive price strategy, is the negotiation technique that was used by the
seller to sell its car for getting huge profit. This particular technique is effective as it helped the
seller to get the fair value of the car. Whereas, the strategy used by the buyer is making the offer
unconditional (Holmes, Beitelspacher, Hochstein & Bolander, 2017). This strategy used by the
buyer proved to be effective as it made use of the most favorable terms apart from other
competing buyers. This strategy proved to be beneficial for the buyer to set an appropriate price
range for buying the car. Based on the checklist the observer noticed that the buyer and seller
must consider market factors that affect the sale of the car. The seller had arranged the car to
show it to prospective buyers (Jorgensen, 2015). The seller had also determined the selling price
of the car.
The other parties make use of effective negotiation techniques, strategies as well as
tactics to execute the buying and selling process effectively. Another seller utilizes the strategy
of considering the buyer's market to get the best deal without making the buyer walk away. This
particular strategy helps the seller to sell the product in the desired price range without
disappointing the buyer (Artinger, Vulkan & Shem-Tov, 2015). On the other hand, the seller
needs to consider the negative impacts of selling a product in the buyers’ market. While the other
buyers make use of deadlines and demands strategy that is determined to be a pressurized tactic
that is adapted to make the sellers provide concessions related to intimidation, threats, and
pressure. This is the favorite tactic used by most of the buyer as it helps to control the situation
and makes them feel powerful (Peled & Kraus, 2015). Such type of buyers is known as hard
negotiators that force the sellers to either make a discount decision or lose the sale. Therefore, in
order to buy and sell Hyundai Elantra GT, the buyer and seller must use these strategies to
execute the process effectively. The negotiation among both the parties closed with the help of

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the negotiation strategies used by them (de la Hoz, Gimenez-Guzman, Marsa-Maestre & Orden,
2015). It is suggested to both the parties to consider the range of competition within the market
that provides competitive advantages by setting competitive prices.
Conclusions and Recommendations
Based on the process of negotiation, it is strongly recommended to the seller and the
buyer to make use of certain strategies that would be beneficial for both of them. In order to
implement negotiation tactics, the buyer must adopt intimidation and control tactic that makes
the seller wait for too long. It is determined to be a powerful way that helps in intimidating and
controlling the sellers. This particular strategy is helpful as it allows the seller to make
interruptions and wait in the lobby that takes place at the time of negotiation. This makes the
buyers reduce the price of the product as per the price range set by the buyer. On the other hand,
the seller must establish a BATNA (Best alternative to a negotiated agreement) prior to
negotiation. These tactics help the seller to make the best deal with the best price that is
profitable to the seller. This particular strategy would be helpful for the seller to gain profit by
achieving the targets.
The paper demonstrated certain negotiating strategies, techniques, opening negotiating
tactics, ethical considerations, managing conflicts and making concessions. It discussed relevant
negotiation strategies, tactics, and techniques that would be beneficial for the buyer and seller to
buy and sell the car. It has been observed within the paper that the buyer, as well as the seller,
makes use of certain negotiation techniques and tactics to achieve the desired objectives. The
negotiation technique and tactic used by both parties helped them in gaining profit. Therefore,
the paper provided an understanding of certain negotiation fundamentals that would be helpful if

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applied efficiently. It also provided recommendations to the buyer and seller to execute the
process of negotiation effectively.
References
Artinger, S., Vulkan, N., & Shem-Tov, Y. (2015). Entrepreneurs’ negotiation behavior. Small
Business Economics, 44(4), 737-757.
Baarslag, T., Hendrikx, M. J., Hindriks, K. V., & Jonker, C. M. (2016). Learning about the
opponent in automated bilateral negotiation: a comprehensive survey of opponent
modeling techniques. Autonomous Agents and Multi-Agent Systems, 30(5), 849-898.
de la Hoz, E., Gimenez-Guzman, J. M., Marsa-Maestre, I., & Orden, D. (2015). Automated
negotiation for resource assignment in wireless surveillance sensor
networks. Sensors, 15(11), 29547-29568.
Holmes, Y. M., Beitelspacher, L. S., Hochstein, B., & Bolander, W. (2017). “Let's make a deal:”
Price outcomes and the interaction of customer persuasion knowledge and salesperson
negotiation strategies. Journal of Business Research, 78, 81-92.
Jorgensen, D. L. (2015). Participant observation. Emerging trends in the social and behavioral
sciences: An interdisciplinary, searchable, and linkable resource, 1-15.
Lyu, S. O., & Oh, C. O. (2015). Bridging the conceptual frameworks of constraints negotiation
and serious leisure to understand leisure benefit realization. Leisure Sciences, 37(2), 176-
193.
Peled, N., & Kraus, S. (2015). A study of computational and human strategies in revelation
games. Autonomous Agents and Multi-Agent Systems, 29(1), 73-97.

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Zarei, A., Hassannejad, M., & Ganjouei, F. A. (2016). Explaining the role of negotiation skills in
conflict management among physical education experts. International Journal of
Humanities and Cultural Studies (IJHCS) ISSN 2356-5926, 1893-1903.