rules for barganing - Pre-negotiation: Preparation is...

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Pre-negotiation: Preparation is essential in order to efficiently bargain or negotiate, the more information you have the more likely you are to achieve better results in negotiation. Researching what you negotiating will give a realistic view of what you’re objectives in the negotiation will be. A lack of realistic goals may result in leaving the negotiation with nothing at all. Consider what is valuable to your business, not the costs. You may end up losing something in the negotiation that is more valuable to your business than money. It could be a reliable client or your company reputation. Knowing which are the best times to negotiate, for example, bargaining at the end of the day in a flea market that when seller want to get rid of the extra stock that was not sold, will give you a very strong bargaining position.
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Rules for bargaining: 1- Research the product you are thinking of buying. Find out how much the product is worth to avoid being fooled to pay a higher price. And by having knowledge of the market price you can say that you have seen this product at a cheaper price in an other place even if its not true. Salespeople won't want to lose the sale to another store who will, in turn, be gaining you as their customer. 2- Try to find defects or problems with the product. a rip in a shirt or a stain on a pair of pants will make your bargaining position much better and is an easy way to get cheap prices on expensive products 3- Set a realistic goal price for the product. Before you start bargaining you should know what deal you want and why it is realistic. Suggest a price low enough for there to be a difference between your maximum price and the paying price, but not too low that you are being ridiculous and insulting the salesperson. An offer between 15 and 25
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percent below what you’re prepared to pay is a common tactic 4- Act relaxed and look like you don’t “have to have” the product. If the seller is not lowering the price, don’t be afraid to leave. Most salespeople would rather make less money on a sale than totally lose a sale, so chances are, the salesperson will change his mind. 5- Timing. If you are bargaining at a flea market for example, the best timing is at the end of the day, just before the seller leaves. At the end of the day the seller will want to sell the remaining stock specially if he had a very slow day. 6-
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This note was uploaded on 03/28/2011 for the course MANAGEMENT MN 1015 taught by Professor John during the Spring '11 term at Royal Holloway.

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rules for barganing - Pre-negotiation: Preparation is...

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