Mgt557

In: Business and Management

Submitted By mtthwkirkland
Words 374
Pages 2
Band members as Constituencies managing their Agent
The band members as group had to decide rather to all come together or one member of the group would represent all three discussing the renewal of the contract with agent. The band member determined that it will be best for the group, since all three band members had different expectations of a salary increase the group decided each band member will speak with agent and be present. When negotiating salary as a group; the agent and band members must be on the same accord, and be ready to put everything on the table for a successful negotiation. The agent and band member working together as a team to ensure a successful negotiation is known as a collaborative strategy. “Collaborative strategy is represented by a desire to exchange meaningful and accurate information in order to reach an agreement that is best for all parties involved” (Marks and Harold, p. 373). At this point the band members will let the agent speak on behalf of the band. The agent will began the negotiations with discussing the bands fans, loyalty, and all background information of the band success.
The band members and agent discussed the path ahead and centered on specific items; the band is extremely popular, especially on social media. This turns into more exposure and more fans over time. As a band they are relevant in all media. Being that their followers increased on social media, the band member’s project more sold out performances and albums. The label can also find the data and the steady trends of fan loyalty in both marketplace and entertainment industry. Based on this information, the band members suggested a short-term contract, of 24 months, and a percentage increase range of 12 – 15%. The final percentage increase would be based on the label group agreeing to pay travel costs. The agent was informed by the band members to…...

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