Question

Amit is a very hard working and effective sales person. He possesses amazing negotiation skills. Before entering a bargaining meeting, he always prepares for the meeting and collects information regarding buyers’ objectives, attitudes, personality, financial position, expectations, likes and dislikes etc. While the discussion is in progress, he tries to get views and ideas of opponents. What further steps should he follow to ensure effective negotiation? Explain.

Answer 1

Steps of negotiation discussed in the case are ‘Preparing for a meeting’ and ‘Discussion’. Further steps to be followed for effective negotiation are as follows

1. Active listening - to listen actively to the other party during discussion. It helps to find out the areas for compromise to strike a deal. 

2. Proposing – to send a proposal for final negotiations. The important rule of bargaining is to put all your terms and conditions as true statements and not as questions. 

3. Emotional control - to keep the emotions in check during negotiations. At times the situation may be frustrating but he has to control his emotions during the meeting to avoid unfavorable results. Efforts should be to reach a compromise formula instead of breaking down the communication between the parties. 

4. Problem-solving - to seek a variety of solutions to problems. He should use negotiating skills in solving the problems i.e. agree to a compromise quickly to end a stalemate and close the deal.