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Case - 4: Title: - Old Is Gold (Cycle) Executive Summary

The seller is trying to sell their old bicycle at a car boot sale for a minimum of €50. The bicycle originally cost €200 but is now 8 years old and well used. A buyer is interested in the bicycle but thinks it's only worth €100 due to its age and condition. The seller and buyer must negotiate a price for the bicycle that makes both parties happy.

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Hema Somawar
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234 views3 pages

Case - 4: Title: - Old Is Gold (Cycle) Executive Summary

The seller is trying to sell their old bicycle at a car boot sale for a minimum of €50. The bicycle originally cost €200 but is now 8 years old and well used. A buyer is interested in the bicycle but thinks it's only worth €100 due to its age and condition. The seller and buyer must negotiate a price for the bicycle that makes both parties happy.

Uploaded by

Hema Somawar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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CASE – 4

Seller- you are selling your old bicycle at a car boot sale although it cost €200, it is now 8 years
old and well used. The minimum price you would like to accept is €50.

Buyer – you have seen an interesting bicycle at a car boot sale. Negotiate a price with the seller.
It looks like it would be worth at least €100 but obviously. You would be happier to get it for
cheaper than that.

Title: - Old is gold (Cycle)

Executive Summary:-

According to this case there are 2 person the seller and buyer and here he wants to sell the old
bicycle at a car boot sale. Although it cost €200and it is now 8 years old and well used if anyone
is interested to buy this bicycle it is available at a car boot sale. The bicycle is well used so the
price of bicycle is €50.

Statement of the problem:-

As the bicycle is 8 years old and well used.

Some basic problems are

 Price / cost of bicycle.


 Looks of bicycle
 Damaged parts
 It’s a second hand bicycle.

Alternative Solution:-

From the above stated problems have its own solutions which can be applied to resolve the issue
and to sell it for a better assumable price like:-

 Damaged Parts:-
Proper oiling should be done in damaged parts for reuse as the mechanical parts will
work smoothly even if they are too old and should be taken care on a regular basis.
 Body polish/Teflon coating
In bicycles we can also apply a polish which costs up to €5 and ads up to the looks of the
bicycle. Or can be coated with a layer of Teflon due to which all the scratches will be
covered or minimized.
 Price / cost of bicycle

Price of the bicycle could be made perfect by firstly asking the purchaser about his price
expectation.

1. If the buyers offer a higher price than your expectations then negotiate with him in a light
sense. Because if negotiation is good, you can fetch a lot of money than you expected.
2. If the buyer offers fewer prices than your expectation then a hard negotiation should take
place. You have asked the price expectation of buyer and demand your price for the
bicycle. Ignore the offers made by the buyer but wait for the best counter by the buyer
which should be in your favor the most. And deal should be made at that point.

Best Solution:-
Better solution according to me should be all of the three I mentioned above. By polish,
oiling and price negotiation the best price can be achieved.

Conclusion:-
Bicycle is a thing which is used for daily purpose/ daily routine activities so, it should
work properly with all the parts cleaned, polished and taken care off.
“A better negotiation can bag a filthy amount at the state of hunger also”

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