Fabriq - Negotiation Skills Assessment Pollen

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Questions and Answers

What should you create in order to claim value during negotiation?

Impact on the top-line growth

Impact on the bottom line

Non-tangibles like reputation and brand

All of the above (correct)

How is success measured in negotiation?

By the product or service offered

By the negotiation approach

By the sales cycle

Differently depending on the stakeholders (correct)

What are the two approaches mentioned in the 'Negotiation approach' theory capsule?

Collaborative negotiation and interest-based bargaining

Hard / soft bargaining and positional negotiation (correct)

Positional negotiation and interest-based bargaining

Hard / soft bargaining and collaborative negotiation

What does the 'Hard / Soft bargainers' theory capsule compare?

My interest vs. yours Signup and view all the answers

What is one key factor to consider in negotiations?

Emotions and biases of the negotiators Signup and view all the answers

What is a strategy to handle objections in negotiations?

Understand objections, explain and defend, explore compromises, and reflect Signup and view all the answers

What is a high-pressure sales call likely to fail due to?

The principle of reactance Signup and view all the answers

What should be done after a negotiation round to decrease reactance?

Give the customer more options to choose from Signup and view all the answers

What are some best practices for successful negotiations?

Setting the frame, agreeing in meetings but delaying response, using higher authorities, and putting all issues on the table at once Signup and view all the answers

What is a key aspect of decision-making in negotiations?

Prioritizing timing for optimal outcomes Signup and view all the answers

What is a power base in negotiations?

Identifying high or low influence and authority of the person being negotiated with Signup and view all the answers

Why do high-pressure sales calls often fail?

Reactance principle is not relevant in sales calls Signup and view all the answers

What should be done after a negotiation round?

Anticipate objections Signup and view all the answers

What should be used to decrease reactance in negotiations?

Allowing the other party to feel they have a choice Signup and view all the answers

What is a recommended approach for handling requests for discounts in negotiations?

Managing requests for discounts effectively Signup and view all the answers

What should be prioritized in decision-making during negotiations?

Timing for optimal outcomes Signup and view all the answers

What is the main focus of Amy Cuddy's study?

Emotional regulation through power poses Signup and view all the answers

What are power poses?

Nonverbal cues that can induce various emotional feelings and change hormone levels Signup and view all the answers

According to the 7-38-55 rule, what percentage of what makes us like or dislike someone is accounted for by body language and face?

55% Signup and view all the answers

What is mirroring?

Imitating another person's speech patterns, body language, and tone of voice Signup and view all the answers

What are important skills in negotiation, as people want to be understood and accepted?

Perspective-taking and empathy Signup and view all the answers

What does research show about people talking about themselves?

People enjoy talking about themselves and it activates reward areas in the brain Signup and view all the answers

How can managing emotions in negotiations be achieved?

Validating the other party's emotion, understanding why they are reacting, and proposing positive and solution-based thoughts Signup and view all the answers

What is the focus of the 7-38-55 rule by Albert Mehrabian?

% of communication based on words, tone, and body language Signup and view all the answers

What do high-power poses represent?

Expansive and open body language Signup and view all the answers

According to Amy Cuddy, what can power poses impact?

Feelings and hormone levels Signup and view all the answers

What is the main purpose of mirroring?

To build rapport and trust Signup and view all the answers

In negotiations, what is important for managing emotions?

Validating the other party's emotion, understanding why they are reacting, and proposing positive and solution-based thoughts. Signup and view all the answers

What is the key focus of the Gradual bargain Win / lose game negotiation approach?

Understanding and addressing the interests of all involved Signup and view all the answers

What is the ZOPA in negotiation?

Zone of Possible Agreement Signup and view all the answers

What does BATNA stand for in negotiation?

Best Alternative to a Negotiated Agreement Signup and view all the answers

What is the purpose of presenting clear options in negotiation?

To reveal customer priorities Signup and view all the answers

What is the role of probing questions in negotiation?

To uncover counterparts' interests Signup and view all the answers

What is the significance of long-term relationships in successful negotiations?

They are essential for successful negotiations Signup and view all the answers

What does BATNA help in determining in a negotiation?

A reasonable reservation point and estimated ZOPA Signup and view all the answers

What is the aim of expanding the pie in negotiation?

To expand the potential value of the negotiation Signup and view all the answers

Why is information considered power in negotiation?

Being well-informed is essential Signup and view all the answers

What is the best use of starting prices in negotiation?

Careful use of starting prices Signup and view all the answers

Why is it important to tailor proposals to the customer's context?

To tailor to the customer's context Signup and view all the answers

What is a key factor in building rapport as part of a negotiation strategy?

Identifying the counterpart's negotiation style accurately Signup and view all the answers

Study Notes

Gradual bargain Win / lose game: a negotiation approach that aims for a "win" outcome for both parties, developed by Fisher & Ury
Key focus: understanding and addressing the interests of all involved
Hidden similarities: despite contrasting positions, parties often have common interests
Probing questions: asking these can help uncover counterparts' interests
Value-generating options: brainstorming before committing to an agreement can lead to beneficial deals
Long-term relationship: a healthy one is essential for successful negotiations
Expanding the pie: involves expanding the potential value of the negotiation, rather than focusing solely on the price
Position-based negotiation: can be transformed into an interest-based negotiation
ZOPA and BATNA: crucial concepts in negotiation
- ZOPA: the zone of possible agreement, determined by the parties' walkaway positions and competitors' prices
- BATNA: the best alternative to a negotiated agreement, helping determine a reasonable reservation point and estimated ZOPA
Building a winning proposal:
- Information is power: being well-informed is essential
- Simplify proposals: make them simple to read and understand
- Anchoring: careful use of starting prices
- Unique selling propositions: present three
- Customization: tailor to the customer's context
- Use odd numbers: avoid round numbers
Business & commercial decision criteria: important factors include alignment to budget and ROI, and time frames
Packages: bundling offers can avoid feature-by-feature discussions and maintain flexibility
Power of options: presenting clear options helps reveal customer priorities
Key components of a proposal: include an official description, unique value propositions, scope, pricing, T&Cs, and packages
Negotiation strategy: essential practices include preparation, identifying the counterpart's negotiation style, and building rapport.

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Description

Test your negotiation skills with this quiz that covers various aspects such as human nature, power bases, assumptions, and strategies for dealing with the negotiating party as both an opponent and a partner. Evaluate your ability to handle emotional counterparts, build influence, and avoid making assumptions during negotiations.