Price Negotiation

Definition: Price Negotiation is a common way and practice for individuals and organizations to receive a discount off the posted or initially offered price. It is typically the last stage of a negotiation or bargaining process.
There are certain things buyers can do to reach a lower price: Do your homework, Make the seller name a price first, Be quiet (use the power of silence), Ask for extras, Be willing to go away, Insist on reciprocation.
There are certain things sellers can do to reach a high price: Build value, Lead the negotiation, Effect emotions, Claw back money in other areas, Justify the price, Leave the customer feeling satisfied.

💡

Learn more about Price Negotiation.

More on negotiating and persuasion: BATNA, Bottom Line, Negotiating, Principles of Persuasion.

You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA.

MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration.

We like to keep things short, and provide links to learn more about your subject.

Add MBA Brief to your desktop / iPad