Negotiation Tactics used

 In our last class, we did two negotiation simulations.   A technique I used in both negotiations was probing/testing.  In the used car negotiation, I attempted multiple times to gain more information on the buyers goals and other information.  I asked if she "had other cars in mind" to know if there was competition and could sell for a higher price. 

In the second negotiation, I used probing/testing to see if Knight had talked to any other sellers or had any other offers.  I knew that if I did not get this sale, I would have to sell the pistons for very cheap and would lose money, so wanted to verify the leverage I had. 


I also utilized a quick close during the second negotiation.  As stated, I knew I needed to make a deal, but my partner was not budging.  We were stuck at 600$ a piston, and I was reluctant to go lower.  Rather than lower my price, I offered waived fees in exchange for us to agree on the price and sign the contract, to which he agreed. 

Comments

Post a Comment

Popular posts from this blog

Scorecard reflection / Revised offer

 If I were to go back, I think I would alter how I arranged my resources.  Going into the negotation, I wanted to make a deal with RR.  After seeing others negotaite it, I realized the Four Com would be preffered and a better alternative.  With that said, I would have gave less points towards making an agreement with RR and overall less points on the table, knowing that the four com offer is a better fit.  The original offer would have yielded 5 points, with the only thing covered being the relocation, and a partial relocation coverage at that.   The revised offer would have yieleded 17 points, which is still much lower than ideal.  The four com offer would have yielded 43 points, which is signifigantly higher than the other options.   Doing this negotiation over again, I would have needed a much better offer from RR to even consider, knowing how ideal the four com offer is.  
Read more

Week 6 Blog - Readings

 While reading 4.1 "Women Don't Ask", it was very surprising to me the statistics behind women asking for things less than men.  Prior to reading this, I would have predicted the metrics to be the opposite.  Another shocking finding was the salary.  I did not think, before reading this, that the statistics would be so drastic due to a simple negotiation.   I would say the school of negotiation I fit most into is the 'What goes around, comes around'.  I feel my strategy typically has shades of the poker school, but I tend to try to be more cooperative and make the deal work for both sides.  I often find myself thinking that if I blatantly mislead the other side, that is going to leave a sour taste in their mouth and encourage them to become more competitive against me.  As the text mentions, credibility is crucial in negotiation.  Personally, credibility is a large factor for me, as well as morals.  I prefer to tell the truth while negoti...
Read more

Checklist and Scoring system

 Scoring system for Joe Tech Title - 25 point maximum Product Manager - 25 points Associate Product Manager with guaranteed end year bonus - 15 points Associate product manager with 6-12 month review process - 10 points Associate Product Manager - 0 points Salary - 10 points maximum 98-101k - 10 points 94k-97k - 7 points 90k-93k - 5 points 88k - 0 points Assignment - 20 points maximum Immediate switch to business development - 20 points Start in Product management with a 6-12 month transition plan - 15 points Verbal commitment to transition- 5 points no movement - 0 points Signing bonus - 10 points max 18k+ - 10 points 15-17k - 8 points 11-14k - 5 points 10k (No change) - 0 points Relocation - 10 points Full relocation - 10 points Move covered - 8 points Partially covered - 5 points No change - 0 points Year-end bonus - 13 points Guaranteed 15-20% bonus - 13 points Guarnteed 10% - 8 points  Guarenteed 5% - 5 points No guarantee - 0 points Stock options - 7 points Any increase ...
Read more