Consider Before Bargaining - Business Negotiation Skills

What to Consider Before Bargaining?

For any negotiation, bargaining process is the core. Actually it is the actual meaning of a negotiation. Before understanding to the pressure, necessities and targets affecting your opponents, you may suppose to gain some knowledge about their negotiating approach.

By asking the below questions to yourself, you can gather the information -

  • Are the other party starts with an unreasonable offer?
  • Will they rush to any conclusion?
  • Are they going to manipulate the matter to their own advantage?

It needs a lot of trials and errors to find out the above issues however, if you have any contacts that already have an experience with your opponent then you can ask them for their views regarding how they negotiate.

Views Negotiation

Some people tend to rush the things and you can possibly take advantage of that. If you are stiff on your deal, they might feel pressure on them and make the deal on your terms.

Before negotiating with opponents, try to identify and break down your opponent’s necessities, pressure and targets. By chance if they spill out any information in the beginning itself, you can use it to your advantage.

Note down that information and make use of it in later stages of the negotiations. More the information, more you are going to benefit, no information goes wasted in a negotiation.

The First Offer Technique

  • The First Offer Technique is usually implemented when you are aware that you can’t avail the offer. We can also hope that there is a deal between Banta and Wanta, will be offered highest you can pay for. These deals will make the competitors roll out the equal and counterattack offers.
  • The exaggerated First Offer Technique is usually implemented being totally aware that you can’t meet the offer. There is also hope that somewhere between the BANTA and WANTA, the dealer will offer you the highest you can hope for. This makes the competitors to often counterattack by making an equally exaggerated offer. A negotiator may be tricked into making a deal which is profitable for the person using the technique.
  • Negotiators might deceive the person by saying “Well, I would never usually go this low, but as I am fond of you, I’m going to do this for you”.
  • Few techniques are applied while dealers are having a negotiation; however it is crucial that you apply the most appropriate one. You should also know on how to tackle difficult situations in a high-pressure negotiation.

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Business Negotiation Skills Topics