Sometimes walking out or forcing an impasse (deadlock) can be done for strategic purposes. When used as a strategy to test the other side's resolve, or to buy yourself more time, it is important to plan in advance how you will reopen the negotiation at a later date.
People don't like to waste their energy. Once they have worked on something, they want the effort to pay off. The more work they have done in a negotiation, the more they want agreement. Once a negotiator has invested a great deal of time, effort, emotional equity, and money in a negotiation, the more desperate [...]
Suggest a solution or option to see how the other side responds. Exploring potential opportunities or alternatives. This technique is a way to get information from the other party that ordinarily might not be given. Good "What If?" questions provide insights into the other party's business practices and motivations. These questions can open up new [...]
An emotional, physical, and verbal reaction to an offer, then silence to see how the other side may modify their offer.
Remorse after reaching agreement that you could have gotten better terms. For buyers and sellers, often referred to as buyer's remorse and seller's remorse. Occurs when an under aspiring negotiator sets their target or aspirations too low at the outset of a negotiation and is granted an immediate agreement by their negotiating counterpart.
Win-Lose refers to a distributive negotiation where one negotiator gains the other negotiator’s loss. Both negotiators are typically competing to take away or claim the most value from their negotiation. Also called the fixed-pie scenario, in that there is only a limited amount to be distributed. The term ‘win-lose’ was popularized by “game theory”. [...]
A negotiation in which both parties strive to reach an agreement that satisfies everyone. Also called interest-based, value-based, and mutual gain negotiating.
A buyer finds out what a seller will take by offering to consider a somewhat lower quality item, and then tries to buy the higher quality item for the lower price.
Part of planning your negotiation strategy. Worth analysis is different from cost analysis. In worth analysis, all economic and psychological factors are considered. Worth is the power to satisfy wants. Its value depends upon what is considered useful or desirable to a person in a particular situation. Cost is only one of the many elements [...]
Yields and Shields ᵀᴹ The idea of trading lower value items for those of higher value is universal in all negotiations. TableForce has labeled these negotiable items as Yields and Shields. "Yields" are low value, willing to give up, let go, concede and "Shields" are must haves, cannot conceded, the boss says "never"! [...]