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.


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


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