Round Brief

Round flow Round time: 90 mins

The round comprises two phases. The first phase is the Bargain phase while the
second phase is the Trade phase.
Each team is to rename themselves with the naming convention as mentioned
​TEAMNUMBER_B/T ​(Ex: 01_B, 01_T)
Here, B corresponds to the ​Buyer​ while T corresponds to the ​Trader​. Teams are
free to decide amongst themselves as to who will be the buyer and who is to be the
trader but once the round starts, they ​can’t interchange their roles​.
This naming convention is to be followed throughout the round and under no
circumstances are the team members to reveal their identity henceforth. ​Deviation
from this would lead to instant disqualification of the team. ​Thus, we
recommend you to change it directly from the settings of zoom.us website.
Also, the participants are required to keep their ​video​ ​ON​ throughout the round.
Teams have to follow the instagram page named ​The Orient Plaza
(​https://www.instagram.com/the_orient_plaza/​) to access the virtual MarketPlace.

Phase 1: Bargain Round

Rules Phase 1 Time: 45 mins
1. 12 Virtual Shops have been set up on ​The Orient Plaza.
2. The items available in each of the shops and their corresponding MRP’s are
posted on the instagram page as Carousel.
3. All products are exclusive and are to be treated as ​1 unit​, irrespective of the
packs mentioned.
4. To enter a shop, teams are expected to join the ​zoom link mentioned in the
shop’s post description.
5. The ​buyers can hop from shop to shop, negotiate with the seller present there
and try to get the best bargain possible for the product of their choice, while
the ​trader ​stays back in the main meeting.
6. Few constraints which the teams have to keep in mind
1. At any point in time, ​only one​ buyer can enter a shop.
2. A buyer can enter a shop ​only once and spend a maximum of ​9
minutes ​in that shop.
 3. Only ​1 unit​ of all the products listed is available.
4. Each team needs to purchase ​at least 1 product each, from any 4
shops.

7. A ​live google sheet will be displayed in the main meeting for ​Trader’s
reference, ​who may choose to ​coordinate with their team buyers about the
status of each shop/product availability/decision-making, etc.
8. If a team runs out of budget, then it’s ​most recent purchase is canceled​.
The product purchased during that transaction is made available again at the
shop.
9. Lastly, as the name suggests, there is ​no aspect of virtual money in this
round.

Objective of this phase

1. To purchase at least 1 product each from any 4 shops

2. To get the highest profits from the €500 at each team’s disposal

Scoring

Say the total MRP of the products you have purchased is worth 1200.

Team’s score would be: (1200-500)/500 * 100 = 140%. ​So, there’s no advantage
a team gains by saving money.
 Disclaimers
1. No inappropriate language is to be used during the course of the round.
2. Candidates are free to negotiate but cannot disclose any personal
details/details pertaining to LMS competition to the sellers.
3. The Buyer, the Volunteer and the Seller’s identity remain hidden at all points
in time.
4. Only acceptable languages for communication would be English and Hindi
5. The whole round is being recorded.
6. Under any circumstances of conflict the decision of NjM would be absolute.