Negotiations

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rinky05
Posts: 27
Joined: Mon Nov 18, 2013 3:05 pm

Re: Negotiations

#1 Postby rinky05 » Wed Mar 19, 2014 9:49 am

"What's your best price? i can get the service for "

"That's too expensive."

" Your prices are too high."

"Your competitor is selling the same thing for…."

Most business owners and salespeople hear statements like this every day. That means it is important to learn how to negotiate more effectively.To sell your product and services at best prices possible .Negotiation has been viewed as an art, a science and a game. Sales negotiations might take place over meetings, conversations and phone calls, or can begin and end within minutes. Only key to success in the negotiation is to make sure the person you're negotiating with has the authority to close the deal, because dealing with the right person is very important in sales.

ajit123
Posts: 41
Joined: Sat Nov 16, 2013 1:14 pm

Re: Negotiations

#2 Postby ajit123 » Wed Dec 11, 2013 9:47 am

Not actually... Providing higher quotations and negotiate is not the only solution. Depending on the percentage of disagreement.. some steps required to deal with hard negotiators:-

1. Deal according to the requirement and budget of the prospect.
2. Provide alternative package if prospect is unsatisfied with your offer.
3. Provide good discounts or value-additions.
4. Commit for a better service and quality.

gaurav786007
Posts: 4
Joined: Fri Mar 08, 2013 4:47 pm

Re: Negotiations

#3 Postby gaurav786007 » Fri Mar 08, 2013 5:13 pm

If you bring only a single proposal to the table, you may likely end up with a rotten deal or no deal at all. You need to have an alternative plan waiting in the wings.(quoting high price is similar to give a single proposal) This is where BATNA( Best alternative to a negotiated agreement ) comes in action.
It can also be your trump card to make the deal happen to your advantage,When you have a strong alternative solution to a lousy proposal, you have leverage to build a more potent proposal :ugeek:

bairola4
Posts: 3
Joined: Tue Feb 12, 2013 12:27 pm

Re: Negotiations

#4 Postby bairola4 » Wed Feb 13, 2013 3:00 pm

The ability to negotiate successfully can make the difference between success and failure .For the customer who are very hard negotiators,you should be well aware of your product qualities and differences from other competitor products ,quoting high price never works all the time ,so you should we well aware of your product ,don't afraid to ask the customer about his need & what he is looking for,listen to your customer,show the customer how their needs will be met,always open to customer questions ,never be in hurry .Remember, a major key is "perceived value" vs. actual value. A 10 lac car may be expensive, unless it has a perceived value that is much higher. Explain the details of the product (awesome stereo system, excellent fuel mileage, amazingly low mileage, newer year, etc.) to the customer and put a value on each.Do not take the issue or the other person's behavior personally.



Anil Bairola
Amcat ID - 10011209200665

archit
Posts: 144
Joined: Thu Dec 13, 2012 4:25 pm

Re: Negotiations

#5 Postby archit » Tue Jan 29, 2013 11:00 am

Dear Members thanks for your valuable suggestions..

One thing is clear Quoting high and negotiating is not very effective and ethical practice...Hard Negotiator always compare your offering with competitors..Being a good sales person you should know your battle cards very well against competition..Try and convince client on the quality and value which he will be getting after buying your product and services...

Rajesh
Posts: 22
Joined: Mon Mar 08, 2010 10:01 am

Re: Negotiations

#6 Postby Rajesh » Tue Jan 29, 2013 10:52 am

One should never quote price as per the client's profile..Pricing of any ethical company has to be fixed and one should always quote accordingly..

To handle hard negotitators..as a sales person one should try and convince the client on the quality and the value adds we shall be proviinge with our services..Try to negotiate by offering some add on services if available or else one doesn't have a choice but to offer something very special for hard negotitators but that should be done as the last option once we are convinced that he'll surely be closing the deal..In this case before offering the special price as a slaes person one should also be negotiating on the payment/po terms like how fast we can receive the payment n all.

ashish
Posts: 44
Joined: Sat Nov 03, 2012 12:00 pm

Re: Negotiations

#7 Postby ashish » Tue Jan 29, 2013 10:13 am

Qouting high wont solve the problem. First of all one should understand that a customer only buys a product when it meets his needs including the price range that he is willing to invest.

Hence when negotiating try to understand if you have alternate smaller options which can meets his needs incase budget is the concern. Once product is
finalized some customers would take hard negotiation stand to get as much possible discount. To do so they try invest more time in negotiation &
looks for more number of times discounts. One should figure out such costomers & use the negotiation tactics accordingly.

Also there are many customers who are trying to understand & explore the market, evaluating all pros & cons of options available to him. Sometimes they take the hard negotiation stand either he is are just trying to understand how much lower price can be qouted by the salesman so that if in future he needs it he can try to get that price again or he has already decided on other lower price product which comes in his range but is just trying to find if the salesman with higher quality product can arrive at that price. In both cases customer anyway would not buy the product in near time.

prashant
Posts: 50
Joined: Sat Nov 03, 2012 11:57 am
Location: Noida

Re: Negotiations

#8 Postby prashant » Tue Jan 29, 2013 9:48 am

Not actually Archit, gone are the days when people use to follow these tactics..

In today's era the customer is wise, sharp and well aware of the market. Before procuring any product he go out in the market and research well, he go for a comparative analysis.

Thus if such tactics of high quotes are followed to sell a product, it will fetch you no where... My suggestion is don't try to sell a product, rather opt a consulting approach. Wherein make the prospect aware of the the actual deliverable you'll offer, the quality you'll offer. You can use comparative analysis, to show how you are ahead of the other service providers..

Above all trust me for one thing, if you've suggested him the product which he actually needs, then you've already done your job well.

As the customer is smart enough he'll get to know what is right for him. And He will go for your product without negotiation..because he knows quality never comes cheap..

Enjoy Happy Selling :)

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avinash
Posts: 72
Joined: Sat Nov 03, 2012 12:01 pm

Re: Negotiations

#9 Postby avinash » Tue Jan 29, 2013 9:48 am

Once a client said to me .. we are into an Indian Market, we have rights to negotiate, what's the best in this...:)

But quoting high never works all the time, there are various situations and behavior of customer when it comes to negotiation.

Situation 1 :: When he is interested in the product but due to strict budget constraints he forces you to meet his target cost.
Solution :: In these cases mostly deal gets closed by knowing the expectation and suggesting alternate options that can meet his requirements and targeting cost.. justify your product and show him the value for his money ... "" Budgets can be increased if needed "", hence if he is convinced, will definitely work out to procure your services.


Situation 2 :: When a customer is not so keen in buying but negotiates if he can get the price which is not at all possible for the product that he is looking for.
Solution :: They are passive buyers, don't have any immediate requirements quote them your prices keeping something in your hand so when they come back, you have much better to offer them than the previous one.

deepak
Posts: 72
Joined: Sat Nov 03, 2012 11:59 am

Re: Negotiations

#10 Postby deepak » Tue Jan 29, 2013 9:37 am

In this case what I generally do, I never offer rock bottom price to these type of customers means I always keep some discount in my hand which I discuss the moment customer is done with his negotiation.


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