Quick Negotiating Tip

In any negotiation parties will almost certainly enter a bargaining phase at some point. This is when either parties ask for something that is in their own interest.

For example can you give me 10% off and we have a deal. This can put a lot of external pressure on you to agree to the discount in order to secure the business.

But what do you do if you cannot drop your price by 10%? Do you simply say no and risk losing the business or be seen as confrontational?

When responding to a request like this, there are a number of things one can do. Here is one negotiation technique that is worthy of consideration.

Offer Vague and Ask Specific

In the event that you have been asked the question:

Drop your price by 10% and we have a deal.

Respond with the formula “Ask Vague, Offer Specific”. Say something like this:

We may be able to consider discounts (vague) but we would need to increase the order by at least 30% in order to do that (specific). Would that be possible?

Alternatively

OK we may be able to look at our discount structure (vague) however we would need to agree a two year term in return (specific). Would that be possible?

You can play around with this “formula” by changing what it is that would be of interest to you. Hope you have found this negotiating tip useful.

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