An event where buyers (or sellers) compete against one another to "win" by having the best price. Today many companies use online "reverse auctions" to source (buy) products or services from sellers - a reverse auction will drive down the price of the product or service being purchased.
BATNA is an acronym popularised by Roger Fisher and William Ury which stands for 'Best Alternative to a Negotiated Agreement'. BATNA answers the question: 'What would you do if you weren't able to agree a deal with your negotiation counterparty?' Your BATNA is the alternative action you'll take should your proposed agreement fail to [...]
Your Bargaining Zone is the range or area in which an agreement is satisfactory to both negotiating parties. The bargaining zone is essentially the overlap area between walk away positions in a negotiation
When someone gives you a "last and final offer," don't accept it at face value. Test it. It could be they are simply asking you to play "chicken" to test your resolve. When you are given a last clear chance to take a final offer or risk the consequences, you are in this "chicken" situation. [...]
A seller suggests a superior grade product to test how much money the buyer has to spend.
When offered a price the buyer asks, "What if I double the order?" or, "What if I take all you have?" This sometimes helps identify the seller's true cost, or the seller's flexibility in reducing a quoted price.
A negotiator starts a negotiation by using a "big pot" filled with numerous issues—some real and some made of straw. This accomplishes several goals: it tends to reduce the other party's aspirations; it builds trading room into the negotiation; it demonstrates to others in their own organization that they are good negotiators; and it [...]
A missed opportunity or idea that one is not open to, not because of a physical eyesight problem, but due to a lack of information, perspective, intellect or emotional appeal.
A tactic in which one side pretends that they may do or agree to something that they really have no intention of doing. To pretend to be in a better position than one is. Asserting things that are not true. Used like the "Decoy" to test the other party. Business bluffing is part of negotiating. [...]
Nonverbal cues into the emotional state and feelings of another person.