Bollinger can speak with authority on the creative aspects of the WallPackett including the future product plans and potential of Disney character licensing given her background with them. With each of them concentrating on their areas of strength and knowing between them the high, medium and low levels of sales they can accept, the couple can more effectively manage their negotiation with Wal-Mart.
Half-Hour Session Recommendations
In the half-hour presentation to Wal-Mart buyers, the Bollingers must establish credibility quickly and differentiation of their product, the WallPockett. Mr. Bollingers' experience in the retail industry needs to be quickly summarized, as Mrs. Bollingers' expertise in creative design and merchandising with Disney. This immediately establishes credibility. Next, the product strategy needs to be introduced and the potential the WallPockett offers for bundling and gross margin enhancement for Wal-Mart needs to next be defined. Throughout the presentation of these strategies there needs to be a strong focus on the part of the Bollingers to creating a common cultural link with Wal-Mart (Saphiere). Both of their backgrounds will assist in making this link stronger than outsiders to the retailing industry would have. The goal of this 30 minute presentation is to establish credibility through introductions quickly, get to the point of getting Wal-Mart purchasing managers to see how the WallPockett could significantly contribute revenue to their company. The Bollingers need to put enough creative ideas out quickly in the meetings to allow the Wal-Mart executives to identify with and get a sense of what the WallPockett could be used for in the context of a merchandising platform for other products. Once this has been achieved, the Bollingers need to negotiate for the highest sales possible given their P&L planning and sourcing constraints. The follow-on products and their designs must also be addressed with realistic timeframes by Mrs. Bollinger. Ultimately having...
going immediately to price or availability. If the Bollingers can communicate credibility to the Wal-Mart purchasing managers and gain their trust, in addition to getting them to see the value of WallPockett as a merchandising platform, they will have been successful. Their high, medium and low levels of sales and pricing are essential if they are to grow their business after this negotiation and possible contract. Relying on each of them specifically discussing their core strengths will also give them a competitive advantage as well (Mitchell). To alleviate the need for future arbitration (Rumbaugh) the Bollingers need to create product launch and marketing strategies with Wal-Mart assuming the decision is made to purchase their products. Instead of letting the negotiation go to price alone the Bollingers must focus on the unique skills set and product that is actually a platform for cross-selling and up-selling stationary products within Wal-Mart.
References
McGinnis, Micheal. "Negotiation Basics for Purchasing Professionals." 83rd Annual International Conference Proceedings 1(1998)
Mitchell, Lorrie. "Successful Negotiating - Mars vs. Venus Style." 92nd Annual International Supply management Conference, May 2007 1(2007)
Rumbaugh, Charles. "Drafting, Negotiating a Dispute Resolution Clause with Customers and Suppliers." 92nd Annual International Supply Management Conference, May 2007 1(2007)
Saphiere, Dianne. "Navigating the Rough Seas of Intercultural Negotiation." 92nd International Supply Management Conference 1(2007)
Sostrom, Carolyn. "21st Century Negotiations." Purchasing Today 11(2000): 38.
