Concepts of negotiation

Introduction Negotiation is a familiar term that transcends common business parlance. In the context of business, negotiation is found as a sub-branch in marketing where it refers to the wider steps applied toward agreement in decisions about buying and selling.Advertising We will write a custom essay sample on Concepts of negotiation specifically for you for only $16.05 $11/page Learn More Several situations normally arise where individuals have to negotiate (Gregor, pp79). This may entail negotiating within ones-self or with other parties. In this case, it is therefore important that one understands their ability in terms of negotiation skills and if possible find ways of bettering it. Body The modern day marketer is faced with several situations that require great skills of negotiation. How are you able to strike a deal with your prospective clients? How effective are you in convincing the buyer that whatever you are offering is the best deal availabl e? Are you able to respond to the growing wave of market complexities in the scramble for a market share? Such are the questions that a marketer is forced to come to terms with. It therefore brings the concept of negotiation into greater perspective. In negotiating within ones-self, one has to weigh the benefits and the costs inherent in all the available options and pre-evaluate the effects of a given decision (Graham, pp76). That is what normally creates the conflict of interest between ideals and interests. Negotiation between two parties is a common day occurrences. A marketer has to be acquainted with certain skills to enable effective negotiation transpire. Filching is an important aspect in the subject of negotiation (Graham, pp45). It involves making the buyer feel that the bargain they are proposing is very unreasonable. Since it is common norm that people will always seek to spend less while marketers will always want to maximize their profits, the two parties have to stri ke a bargain. Flinching will help the marketer in persuading the buyer to concede faster to his stance. Negotiation is also enhanced when the marketer endeavors to get as much information from the buyer as possible. From that information, he can make a dim perspective of the buyer’s psychological orientation that will help him know how much to stress (Gregor, pp83).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It therefore elicits a lot of demonstration of inner feelings, ideas, views and other intrinsic aspects to the alternate party (Gregor, pp69). As such, a marketer should not make the buyer feel that he is quite desperate to sell. He should be ready to walk away without giving room for too much concession. After all, he is out on a profit mission. Moreover there will always be better bargains. The process of gauging one’s negotiation ability is not an easy process. How ever, through the use of certain simple ways, it is possible to assess it. By experimentally convincing a buyer to purchase a product and successfully striking a bargain that goes to your interest can be a clear indication that one is not worse off (Gregor, pp71). Conclusion It can therefore be said that negotiation is a virtue that is endowed on different people in different proportions. As a very important aspect in a world of limited resources, negotiation skills come in handy in various aspects of the day to day life. Business people as well as other partakers in business will always be engaged in situations that require them to critically apply their negotiation parameters (Graham, pp56). It is therefore quite imperative that the horn such skills so as to be able to bargain more and transact better in an increasingly competitive world. Works Cited Graham, Larry. Marketing Strategies: A New Outlook. New York: Paragon Books, 2003. Gregor, G MC. Marketing in the Wider Perspective. Cambridge: Cambridge University Press, 1999. This essay on Concepts of negotiation was written and submitted by user Teagan Cantrell to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.