12 Questions
What are the key topics covered in Session 1 of the negotiation course?
Definition and nature of negotiation, reasons for negotiating, negotiation in business contexts
Explain the concept of negotiation as a problem-solving process.
Negotiation is seen as a process to resolve issues and reach agreements.
What is the focus of Session 2 in the negotiation course?
Understanding and evaluating what is at stake in international business negotiations
Describe the difference between an insincere and a sincere but unfounded objection in negotiation.
Insincere objections are excuses, while sincere but unfounded objections stem from lack of knowledge or preconceived ideas.
What are some key concepts related to conflict management in international business negotiations?
Structure and content adaptation, price objectives, limits, and conflict resolution
How can negotiation skills be used to influence customer attitudes?
Negotiation skills can be employed to address objections, handle arguments, and make concessions.
How should you handle an insincere objection in a negotiation?
Ignore or minimize
What is the recommended approach when facing a sincere but unfounded objection during a negotiation?
Inform
How should you respond to a sincere and founded objection in a negotiation?
Understand, accept, compensate
What does the vinegar-honey negotiation strategy involve?
Starting with the cheapest possible product or service that still benefits the prospect
How does the Good Guy/Bad Guy negotiation strategy work?
One member takes a hard line while the other is friendly, offering a deal that seems too good to refuse
What is the purpose of using the defer negotiation strategy?
To allow time for reevaluation of positions
Study Notes
Negotiation Sessions
Session 4: Preparing for a Negotiation Meeting
- Power cursors in international business negotiation: size, choice, information, influence
- Developing effective negotiation strategies
Session 5: Handling Objections
- Types of objections: insincere, sincere but unfounded, sincere and founded
- Handling objections:
- Insincere objection: ignore or minimize
- Sincere but unfounded objection: inform and explain
- Sincere and founded objection: understand and compensate
Session 6: Negotiating Effectively
- Strategies for effective negotiation:
- Vinegar-honey approach: start with a basic offer and add benefits
- Pinpointing needs: focus on the need and benefits
- Challenge: respond to challenges with concessions
- Limited authority: defer decision to gain time
- Good guy/bad guy: use a tough and gentle approach
- Defer: delay decision to reevaluate positions
- Maintaining negotiation lightness and building rapport
Session 7: Negotiating Under Pressure
- Techniques for negotiating in high-pressure situations
- Identifying pressure sources, managing and reducing pressure, common negotiation mistakes
Session 1: Introduction and the Role of Negotiation in Business
- Definition and nature of negotiation
- Reasons for negotiating in business contexts
- Negotiation skills to influence customer attitudes
Session 2: Understanding and Evaluating What is at Stake
- Preparing an international business negotiation scenario
- Tactics of international negotiation
- Nature of conflicts in international business
- Structure and content adaptation, price structure, and conflict management
Session 3: The Negotiation Process
- Understanding objections and argumentation in negotiation
- Setting limits and maintaining them
- Identifying and handling objections
- Argumentation strategies, evaluating and overcoming objections
- Knowing when to make concessions
Test your knowledge on the fundamentals of business negotiation, including definitions, nature, reasons, and contexts. Explore topics such as the problem-solving aspect, customer attitudes, and skills for influencing customer perceptions in negotiations.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
