Question

When Oludapipo goes into a car dealership to shop for a new truck, the price sticker on the vehicle that he wants says $32,000 even though he thinks it should really be closer to $25,000. As he negotiates with the salesperson, Oludapipo offers 30,000 rather than starting at $25,000. In this example, the number on the price sticker has served as a(n) __________.

Answer 1

Answer:

An anchor

Explanation:

Anchor is used to establish a reference point around which a negotiation will revolve and to make necessary negotiation adjustments. In this case, Oludapipo was presented with $32000 as first offer at the beginning of the negotiation which served as an anchor.