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SE class > Lesson 10: Customer Negotiation > Flashcards

Lesson 10: Customer Negotiation Flashcards

1
Q

What is negotiation?

A

Dialogue between two or more parties

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2
Q

What is the intent of most negotiations?

A
  1. Reach an understanding
  2. Resolves points of difference
  3. Gain advantage in the outcome of dialogue
  4. Craft outcomes to satisfy various interests
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3
Q

What are some critical things to know when in negotiations?

A
  1. Knowledge or information
  2. Time or deadline pressure
  3. Strength or power
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4
Q

What are some things involved in negotiation in SE?

A
  1. Pricing & deal-making
  2. Reaching agreement
  3. Resolving conflicts & issues
  4. Building long-terms relationship
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5
Q

What are the different negotiation styles?

A
  1. Competing
  2. Accommodating
  3. Avoiding style
  4. Collaborating
  5. Compromise
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6
Q

Competing style

A

-Known as “win-lose” approach
- Involves assertive & uncooperative behavior, often seeking personal advantage
- Characterized by aggressive & dominant behavior

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7
Q

What are some advantages to the competing style?

A
  • Can lead to quick decisions
  • Good for non-repeat situations
  • Enables self-protection
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8
Q

What are some disadvantages to competing style?

A
  • Damages relationships
    -Short term focus
  • Potential for retaliation
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9
Q

Accommodating style

A

-Characterized by extreme cooperation, sometimes neglecting the negotiator’s own needs

-Demands considerable flexibility & readiness to cater to the other party’s needs

  • Preferred by individuals prioritizing relationships above immediate negotiation results
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10
Q

What are some advantages to the accommodating style?

A
  • Relationship preservation
    -De-escalating conflicts
  • Long-term gains
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11
Q

What are some disadvantages to the accommodating style?

A
  • Personal sacrifice
    -Risk of exploitation
    -May lead to resentment
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12
Q

Avoiding style

A

-Involves steering clear of conflict or negotiation
-Typically used by those who perceive negotiation as unpleasant or detrimental
-Often characterized by postponing, ignoring, or sidestepping the issue

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13
Q

What are some advantages to the avoiding style?

A
  • Reduces stress
    -Buys time
    -Appropriate for trivial matters
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14
Q

What are some disadvantages to the avoiding style?

A
  • Unsolved issues
    -Missed opportunities
    -Can damage relationship
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15
Q

Compromising style

A

-Viewed as a “ middle ground” approach
- Involves give & take with both parties willing to make a concession
-Typically used when time is limited or as a temporary solution when parties have equal power & similar goals

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16
Q

What are some advantages to the compromising style?

A

-Quick resolution
- Fairness
- Maintains relationships

17
Q

What are some disadvantages to the compromising style?

A
  1. May overlook better solutions
  2. Potential for exploitation
    - Risk of “splitting the difference”
18
Q

Collaborating style

A
  • Known as the “win-win” approach
    -Involves cooperation to understand both parties’ needs & wants
    -Seeks solutions that fully satisfy the interacts of all parties
  • Encourages open communication, trust, & mutual respect
  • Often leads to innovative solutions
19
Q

What are some advantages to the collaborating style?

A
  • High levels of satisfaction
  • Relationships building
    -Problem solving
20
Q

What are some disadvantages to the collaborating style?

A
  • Time-consuming
    -Not suitable for all situations
    -Risk of manipulation
21
Q

What are the different negotiation strategies?

A
  1. Anchoring
  2. Framing
  3. Mirroring
22
Q

Anchoring

A

Setting a reference point or starting to influence the perception of value or price

23
Q

When should you use the Anchoring strategy?

A

When initiating the negotiation or presenting an offer to shape the other party’s expectation & anchor them to a specific value

24
Q

Framing

A

Presenting information or issues in a particular context or perspective to influence decision-making

25
Q

When should you use framing?

A

When framing a proposal or presenting options to emphasize certain aspects or create a favorable perception of the options

26
Q

Mirroring

A

Mirroring the behavior, body language, or communication style of the party to establish rapport & build trust

27
Q

When should you use mirroring?

A

Seeking to establish a positive connection with the other party & foster a collaborative atmosphere

28
Q

What are the stages in the negotiation process?

A
  1. Preparation (gathering & analyzing information)
  2. Interacting (exchanging demands & constraints)
  3. Clarifications of goals (understanding each party’s needs & wants)
  4. Negotiate win-win outcomes ( striving for mutually beneficial results)
  5. Agreement- (finalizing terms & conditions)
  6. Implementation (putting the agreed terms into action)
29
Q

Why is preparation important?

A

-Reduces uncertainty
- Increases confidence
-Improves outcomes

30
Q

What are the steps involved in preparations?

A
  1. Gather information
    2, Analyze conflict
  2. Set objectives
  3. Assess knowledge, power, deadlines
  4. Identify bottom line & BATNA
31
Q

What does BATNA mean?

A

Best alternative to a negotiated agreement

32
Q

Interacting focuses on ____________ two way communication

A

Dialogue

33
Q

What are the 3 basic skills used in interacting?

A
  1. Active listening
  2. Tactful questioning
  3. Careful observing

SE class (11 decks)

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