Sales And Sales Management Chapter 3: Negotiation Andrés Cor

Sales And Sales Managementchapter 3 Negotiationandrés Coronelnegotia

Sales And Sales management Chapter 3: Negotiation Andrés Coronel Negotiation Negotiating is leading other’s thoughts and actions toward an agreement Mutual discussion and arrangement of the terms of a transaction or agreement A process used by parties in an attempt to reach agreement Negotiation strategy Clearly define the purpose of trading; the goal Gather the necessary information Motivate the other to close the deal Choose the method of negotiation Good negotiation You can reflect on the following questions: Did I close the deal? Did I get what I expected at the beginning? Did the other get satisfied with the deal? Will he make deals with me again? Negotiation stages Prepare Information exchange and validation Bargain Conclude Execute Some advices Always negotiate with ethics Reject the first price Everything is writing Avoid concessions without immediate compensation Create links Take care of image Do not make promises that you cannot keep Put yourself in the other shoes During negotiation Do not argue Don’t make the first offer Lead the negotiation Be eloquent Demand respect Do not get angry Extend the negotiation Listen to the other Wait in silence Do not be naïve Read between lines Do not admit cheating At the end of negotiation Maintain your limits Concessions after closing Make new contacts Stand firm Be kind Analyze your data Win-win negotiation Make multiple offers simultaneously Include a matching right Try a contingent agreement Negotiate damages upfront Search for post-settlement settlements Closing techniques Prevention for objection Narrowing choices Emphasizing key features Handling a third party Getting the signature or approval Common causes for objections The buyer lacks trust in the company or the salesperson. The buyer has a natural resistance to change in her purchasing habits. The buyer does not have the required financial capacity to make the purchase. The buyer does not need the product or service. The buyer needs more information or fails to recognize her needs. The buyer assigns a higher priority to the purchase of other products Considerations for handling objections Show a positive attitude, is normal for a prospect to have objections Objections can be minimized providing enough information All objections should be carefully analyzed, especially to determine if the buyer is close to buying but is deliberately delaying a decision by presenting superficial objections Proof benefits of the product or service by demonstration, comparison and appealing the prospect’s need. Methods for answering objections Agree and qualify Agree that the objection is valid Delay the answer Politely deny that the objection is valid Pass up or ignore the objection Ask questions for further information Make the objection serve as a selling point Ethics Week 5 Review Questions Answer the following question in a short answer format. 1) Describe the basic themes of Karl Marx’s theory of worker alienation 2) What is the primary theme of the GM bailout case? 3) Describe and provide an example of the following: a. Perfect competition b. Pure monopoly c. Oligopoly 4) Give an example of the principle of diminishing marginal utility 5) Give an example of the principle of increasing marginal costs 6) Describe the ethical weaknesses of monopolies 7) What is the most common cause of an oligopolistic market? 8) Provide a number of examples of anti-competitive behavior that has been exhibited by corporations 9) What was the purpose of the Sherman Anti-trust Act of ? Discuss each of the three views of the role government should play in curbing oligopoly corporations Assignment 1 Watch the art of negotiation video and compare with the information you have study in this week(negotiation.pptx). Comment on the most remarkable points and what will you use in your life. A whole page essay. Assignment 2 (Unit 4.- International System.pptx) Answer the following questions: 1.- What is a state? What are the four elements of a state? 2.- What are the four main theories of the state origin? 3.- What is a nation state? 4.- What are the war reasons? 5.- What specific roles can you envision for yourself, over your lifetime, to help make a more sustainable and equitable Earth?

Paper For Above instruction

The comprehensive understanding of sales and sales management, particularly the negotiation process, plays a pivotal role in achieving successful business transactions and building long-term customer relationships. Negotiation, as defined, involves leading the thoughts and actions of others toward a mutually agreeable outcome, requiring strategic planning, effective communication, and ethical conduct. This paper explores the stages of negotiation, key strategies, techniques to handle objections, and the importance of ethical bargaining, providing insights applicable to both sales professionals and individuals in everyday interactions.

The stages of negotiation typically encompass preparation, exchange of information and validation, bargaining, conclusion, and execution. Effective negotiators begin with thorough preparation, gathering relevant data and understanding the needs and objectives of all parties involved. During the exchange, parties share information, clarify misunderstandings, and validate their positions. The bargaining stage involves proposing offers, making concessions, and finding common ground. Concluding the negotiations requires summarizing agreements and formalizing commitments, followed by executing the agreed terms. Each stage demands tact, patience, and precision to ensure the outcome aligns with strategic goals.

Strategic negotiation involves clearly defining the purpose, setting specific goals, and selecting appropriate methods such as competitive, collaborative, or integrative approaches. Good negotiators ask themselves reflective questions: Did I secure the deal? Did I meet my initial expectations? Was the outcome satisfying for both parties? Will the other party be willing to engage in future dealings? These evaluative questions facilitate continuous improvement in negotiation skills. A key aspect of successful negotiation involves ethical conduct—rejecting the first unreasonable offer, documenting all agreements, avoiding concessions without immediate compensation, and maintaining a positive image.

Throughout negotiations, certain behaviors can bolster success, including listening skills, empathy, and patience. Negotiators should avoid arguments, make the first offer strategically, and lead conversations with eloquence and respect. Silence, reading between the lines, and maintaining composure are essential tools in discovering underlying interests and ensuring a win-win outcome. Post-negotiation, it is crucial to analyze data, stand firm when necessary, and make concessions that foster long-term relationships.

Techniques such as making multiple offers simultaneously, including matching rights, and contingency agreements help craft mutually beneficial deals. Handling objections skillfully involves understanding common causes—lack of trust, resistance to change, insufficient financial capacity, or unrecognized needs—and responding ethically by providing additional information, demonstrating benefits, or politely dismissing invalid objections. Effective objection management builds trust and paves the way for successful close.

In conclusion, negotiation is an art combining strategic planning, ethical behavior, emotional intelligence, and effective communication. Whether in sales, business, or personal contexts, mastering negotiation enhances the ability to reach agreements that satisfy both parties, foster long-term relationships, and create value.

References

1. Fisher, R., Ury, W., & Patton, B. (2011). Getting to Yes: Negotiating Agreement Without Giving In. Penguin.
2. Lewicki, R. J., Barry, B., & Saunders, D. M. (2015). Negotiation. McGraw-Hill Education.
3. Thompson, L. (2015). The mind and Heart of the Negotiator. Pearson.
4. Shell, G. R. (2006). Bargaining for Advantage: Negotiation Strategies for Reasonable People. Penguin.
5. Carnevale, P., & Pruitt, D. (1992). Negotiation in Social Conflict. Open University Press.
6. Shell, G. R. (2018). Negotiation: Techniques, Skills, and Strategies. Routledge.
7. Malhotra, D., & Bazerman, M. H. (2007). Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining Table and Beyond. Bantam.
8. Rubin, J. Z., & Brown, B. R. (2015). Negotiation: Readings, Exercises, and Cases. Routledge.
9. Thompson, L. (2013). The Truth About Negotiations. Pearson.
10. Fisher, R., & Ury, W. (1981). Getting to Yes: Negotiating Agreement Without Giving In. Penguin Books.