Quiz 12: Formal Negotiating

Business

Selling is not an easy task and requires a lot of tricks and persuasion to get the products sold to the customers. To gain good sales, the seller has to make the buyer realize that he is dealing into a profitable product and the buying of this product is beneficial for the buyer. The given statement could be explained by stating that an individual during a negotiation should try to gain such a deal wherein the opponent party should feel that they had cracked a deal and gained maximum profits, but in reality, the individual should have made a little sacrifice at the initial level so that he could gain more in the later part of the negotiation. During this process, the opponent party should be under a perception that it has gained much out of the negotiation and in the deal, they are at weights, and to make the opponent party feel the same, the individual has to make meagre sacrifices and insignificant concessions and later grab big concessions from the opponents.

Negotiation refers to the bargaining process through which both buyers and sellers resolve areas of conflict and arrive at a agreement which serves as a win-win situation for both. It is necessary for any negotiation process to be successful that the sales person have good knowledge about their product, competitors product and what is the minimum level to which they can negotiate, the person should present his point well to the other party to arrive at a conclusion. Some of the traits which the sales person should have involve creativity, it helps the negotiator to get the desired negotiation outcome from other party by providing creative solutions and alternatives, knowledge seller must have the complete knowledge about all their products features, benefits, costs and also that of competitor's, they should also know what alternatives are available for their product, so that if customer want to move to competitor they can represent facts for their point.

In the selling process, salespeople are often faced with situations wherein they have to choose between right and wrong, good and bad options and also between ethical and non-ethical way of functioning. This choice of the salesperson depends upon his principles and standards in life and professional arena. This statement could be explained by stating that it is important for salespeople to behave and act ethically and should not get attracted towards wrong means and methods to close sales deals. When the other party or the opponent in the negotiation process tries to make use of unethical means and even tempts the salesperson to get indulge in the same, it is better for the salesperson to leave the negotiation and do not proceed with it. This is because being ethical and legal in undertaking sales calls and making a negotiation is one of the important aspects of successful selling. The salespeople should be aware about ethics and legalities in undertaking sales and closing the deals so that this standard and principle will expose them towards big success later on.