"What's your best price?"
"That's too expensive."
"Your competitor is selling the same thing for…."
Most salespeople and business owners hear statements like this every day. That means it is important to learn how to negotiate more effectively.
Negotiation is defined as a discussion among individuals, each one trying to present his best idea to come to a conclusion benefiting all. An individual gains nothing out of conflict and misunderstanding; instead it leads to stress and anxiety. It is always advisable to compromise to the best extent possible and try to find out an alternative which satisfies all.
An individual needs to adopt certain skills for a successful and effective negotiation. In this lesson Ceema brings out some important points for an effective negotiation.
An individual before starting with the negotiation must be very clear with the agenda (topic) of the negotiation. Ask yourself - why this negotiation? What is the objective of the negotiation? One must be well informed. Try to find out more about the competitor’s products or services.
Let us suppose you want to buy a Parker pen for your friend’s birthday. Before purchasing, it is always better if you check out the prices of other brands as well for instance Mont Blanc. Also check out its features; it will help you in better negotiation with the store owner. Don’t go blank; the other party might fool you.
Before any important deal, do make it a habit to go through as many details as you can. The second party might ask you anything, you must be well prepared to clear all their doubts and convince them. If you yourself are confused, he would never bother to listen to you.
Enjoy the lesson!
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