Phase one:

In your future employment you will examine the strategy of how to professionally purchase a car and minimize the more powerful party's strengths while maximizing your own opportunities.

In this case, you must identify your $$business needs$$ and the market intelligence required to formulate the best total value for the buyer.

$1.$ Identify the opportunity.

$2.$ Clearly identify your current state versus your proposed future state.

$3.$ What are your business needs? In other words, what are your needs when choosing a car? Distinguish your needs from your wants. Please choose $10$ needs and rank them from the most important to the least important. Explain why your need at the top of the list is the most important. Please see the example below.

$4.$ Perform market intelligence research.

$5.$ Research safety and reliability. Choose three brands of car manufacturers that can meet your top $10$ needs. Research the most popular models. Explain why you chose these brands. Please see the website listed in the Assignment Resources.

$6.$ Choose one model of car per brand that meets your top $10$ needs. Why did you choose these models? To be as fair as possible, all models must be similar.

$7.$ What information will help you make an informed decision? What information will help you add value? What information will provide you with negotiating power?

$8.$ Now that you have gathered your market intelligence and reflected on your research, what is your procurement strategy?

Phase Two:

$4.$ Formulate an RFI letter that you would send, and in your report, summarize the three brands you chose and why. Please see the example below of an RFI letter.

$5.$ Formulate an RFP letter that you would send, and in your report, summarize the three models you chose and why. Please see the example below of an RFP letter.

$6.$ Create a ranking system for the three models, or three preferred dealerships you have chosen, to determine best value. Based on your research and your knowledge to date, you can quantify the dollar amounts or simply rank them. Primary considerations for your evaluation scorecard must include, but are not limited to:

a$.$ Final all$-$in price. Use your best estimate from the internet and dealership$/$manufacturer websites. Please include the source of your information by following the APA Style Guide requirements. $($Please refer to the APA Formatting and Style Guide, $7$th Edition$)$

b$.$ Total estimated maintenance cost for the first $5$ or $8$ years $($or longer$)$ depending on your goals; then calculate yearly average. This information can be found on the internet or by reaching out to any service centre.

c$.$ Insurance cost $$ get an online quote or call your provider.

d$.$ Mileage and cost of fuel per year $$ see car specification, type of fuel, and apply the local gas price and multiply by the estimated number of miles driven per year.

e$.$ Shuttle service $$ do they have one?

$7.$ Which of your seller options is ranked the best and why?

Now that you have identified your preferred suppliers, create a negotiation strategy. How will you leverage your knowledge and use it to create the greatest value for the buyer?

Phase Three:

$8.$ Considering your first assignment, as well as the more detailed work you have just completed, create a negotiation strategy.

a$.$ What negotiation strategies and tactics would you employ? Why?

b$.$ How would you leverage your knowledge?

c$.$ Is there something you would avoid? Why or why not?

$9.$ Summarize your thoughts.