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.



   

MBA Brief offers accurate and concise definitions of MBA concepts, frameworks, methods and models.

We love to keep things really short, but provide links to learn more about your subject and to similar concepts.





© 2021 MBA Brief - Last updated: 21-10-2021  -  Privacy   |   Terms