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Sales Negotiation Tactics
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The Anchoring Tactic
Start negotiations with an initial offer that sets the stage for the bargaining process. Use it to frame the negotiation terms in your favor from the outset.
Mirroring
Repeat the last few words your counterpart says. This encourages them to expound on their point and often reveals underlying interests or concerns.
Bracketing
When given an offer, counter with one that is equally far from your target price in the opposite direction. This suggests a fair middle ground over time.
Silence
Remain silent at strategic moments in the negotiation to compel the other party to fill the silence, often giving more information or making concessions.
Building Rapport
Create a connection with the buyer to establish trust and understanding, which can make them more open to your proposals and create a more favorable negotiation environment.
Flinching
Show a strong emotional reaction to a proposal or offer to indicate that it's unacceptable, prompting the other party to make a better offer.
Limited Authority
Claim limited decision-making authority to divert pressure and buy time. This can lead to more favorable terms as the other party may try to make their offer more appealing to 'higher authorities'.
Splitting the Difference
Propose to meet halfway between your offer and the counterpart's offer. This tactic implies fairness and often resolves a stalemate.
Take It or Leave It
Present your final offer and signal that no further concessions will be made. This tactic pressures the other party to make a decision but can also risk ending negotiations.
The Nibble
After largely agreeing on a deal, ask for a small concession that hasn't been previously discussed. Often, the other party will agree because they want to close the deal.
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