Structure
Small talk to facilitate discussion.
What is Chit Chat?
Selling something you don’t own. This is fraud and deserves jail time!
What is Sell a Bridge?
Actions that are morally correct and good. It is profitable and should always be done in business deals to maintain a good reputation.
What is Ethical?
Claiming to be very poor or otherwise unable to pay high prices is called this.
What is Poor Mouthing?
Pretending that you have a better situation than you actually do.
What is Bluffing?
Getting your price on the table first, at a very favorable price.
What is Anchoring?
Asking for something more after you have already reached an agreement. Unethical!
What is Nibbling?
Actions that are NOT morally correct or good. It is ultimately unprofitable behavior.
What is Unethical?
The time people need to psychologically process a big change in their position.
What is Acceptance Time?
This indicates no room for negotiation.
What is Take It or Leave It?
Discussion aimed at reaching an agreement.
What is Negotiation?
Offering one thing and delivering something else once a customer has been drawn to the bait. Unethical!
What is Bait and Switch?
Something that gives your opponent value but doesn’t involve reducing your price.
What are Non-Price Factors?
When one member of your team is antagonistic and unreasonable and another member is conciliatory.
What is Good Cop Bad Cop?
Putting two products or deals together.
What is a Package Deal?
A timely gracious departure once you have a deal.
What is Shake and Go?
When one party keeps making better offers without the other party changing their position. This behavior is a terrible strategy of negotiation.
What is Negotiate With Yourself?
The situation you end up with if you don’t reach a deal in the current negotiation.
What is your Next Best Option?
Being stubborn, refusing to respond, or refusing to engage.
What is Stonewalling?
Asking for a short break to give yourself time to consider your next move rather than rushing to a decision under pressure.
What is a Recess?
The point at which you are out of time and must take your next best option.
What is a Deadline?
The practice of obtaining some reward (usually money) by force or threats.
What is Extortion?
Knowledge is power!
What is Understand Your Opponent?
Telling your opponent where they need to be. "You're a good 10% too high..."
What is Guidance?
Before negotiating, you can build up your _______ to bolster your advantage.
What is Next Best Option?