Quiz 12: Formal Negotiating
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.
Formal negotiating stand for the process wherein the seller and the buyer has come to that point in a deal wherein they have to formally negotiate and final out the terms and conditions governing the contract and stating each party's obligation towards each other. A salesperson Mr. E was in a doubt about the success of the negotiation that he had with a prospect so he indulged in politics and unethical actions that could assure him getting the deal and winning the negotiation as per his terms and conditions. In this case, if Mr. Y was at the place of Mr. E and come to know that the deal is not going to be successful, then he would have patiently tried other methods of negotiation and this way would have tried to close the deal. He could have never taken any unethical, political, and illegal step to secure the sales deal and to win business. 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 followed by them take them towards big success later on.
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.