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You may be nominated to represent the advertising corporation and will receive email instructions from the company CEO including: 1. Appointment to represent the company as their agent for the negotiation of the endorsement contract; 2. Specific instructions about the desired endorsement contract fee and advertising campaign timeframe; 3. Information about the projected revenue to be raised from the advertising campaign; 4. Contact details of the agent appointed to represent the celebrity. Alternatively, you may be nominated to represent the celebrity and will receive email instructions from the celebritys manager including: 1. Appointment to represent the celebrity as their agent for the negotiation of the endorsement contract; 2. Specific instructions about the desired endorsement contract fee and advertising campaign timeframe; 3. Information about the projected revenue to be raised from the advertising campaign; 4. Contact details of the agent appointed to represent the advertising company. Assessment Information Stage 1: Pre-negotiation You must answer the following questions: 1. What is your clients BATNA? What is your clients reservation value? 2. What is the other partys BATNA? What is the other partys reservation value? 3. What is the ZOPA range? What is your strategy for claiming the greater proportion of the ZOPA? Stage 2: Negotiation You must: 1. Enter negotiations with their counterpart for the endorsement contract; 2. Maintain a communications log that captures the date, method, items discussed, and outcomes of each communication.
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