Contract Scenario activity submission report

No, the parents should not have moved forward with the contract. Here, it appears that a litany of different variables where at play that ultimately resulting in the father making an ill-informed decision. First, it appears that the couple did not hold steady to their research related to the vehicle. Here, both the mother and the father conducted extensive research into the automobile market. As such, they were well informed as to the overall direction of the market, the going rate of available autos, and any applicable fees associated with the eventual sale. This research should along with the applicable backup and proof should have formed the basis of the negotiation. Instead, the couple did not bring the applicable reference material to the negotiation. Furthermore, when asked on the sources of the research from the car salesman, they refused to answer the question, thus invalidating their own credibility in the matter of research. In addition, the couple seemed to be more argumentative in the negotiation process as oppose to looking into a mutual beneficial agreement backed by facts and knowledge. Instead, the negotiation was contentious resulting in the salesman being unwilling to work with the couple as it relates to the pricing structure. Even more alarming is that the couple did not adequately review the alternatives presented to them to substantiates their claims or opinions. Here, the father, did not receive information related to the monthly payment or even terms of the financing prior to making his decision. They also appear to not have looked at other service providers to substantiate the prior research they conducted. All of these elements would have provided more information to the couple in order for them to make a better-informed purchasing decision. Instead, based on the case, it appears the couple made a much rasher decision based on emotions and urgency as oppose to rational decision making

Pros

Name

Score

The couple conducted research prior to entering the car dealership

The couple initially communicated their budget and willingness to negotiated

The couple, looked to think indecently and objectively when making the purchasing decision after the salesperson left

Cons

The coupled did not use or demonstrate their research to the salesman

The coupled relied on emotion rather than rational behavior to make their purchasing decision

The couple was not willing to leave the deal even though it was nearly $6000 over their budget

The couple did not adequately assess alternatives in the market prior to making their purchasing decision