MKTG 313 Study Guide - Final Guide: Best Alternative To A Negotiated Agreement, Iceberg, Zopa
Marketing 313 Final
Negotiation
working to reach an agreement that is mutually satisfactory to both buyer and
seller, one of the most effective ways to create value
salespeople usually bad at this, buyers are more skilled
zone of possible agreement (ZOPA)
the space between the seller's walk-away point and the buyer's highest
willingness to pay
Best Alternative to Negotiated Agreement (BATNA)
What alternatives will be acceptable to you if your negotiation does not succeed
walk-away point (reservation value)
represents the lowest offer a party would be willing to accept
Understand the problem
Create alternative solutions that add value
Review acknowledged points of agreement
Do not make concessions too quickly
Remember most negotiations will conclude in final 20% of time allowed
Know when to walk away
Steps of Conducting the Negotiations
service
-show how product creates value and is superior
product
-prove they need it through savings, increased profits
source
-identify problems your product can solve and benefits
time
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