How Do You Choose the Best Negotiation Strategy To Close Business Deal?

There are two things to consider when choosing the best negotiation strategy for a particular business negotiation environment. The first is what you and your prospect will discuss during the meeting. 

For example, if you plan to offer prospects a specific range of services and products based on their current business needs, inclusive negotiations are the best strategy. This particular business strategy takes into account the needs of today's customers. You can now look for the finest business negotiation strategy with the help of mediators. 

7 principles for effective negotiations - The Business Journals

Image Source: Google

From here, the two parties involved in the business negotiation sit down and discuss the most profitable options for both parties based on the demand that the customer is requesting and the costs your company will incur to provide it.

On the other hand, there are some business negotiations where the position or idea remains discussed, e.g. the price of a particular product or service that you offer your customers. In contrast to integrative negotiation, which must take into account the wants and needs of both parties, these wants and needs are negated during positional negotiation and have no weight in the negotiation. 

Therefore, this business negotiation strategy tends to be much more aggressive than the integrative negotiation strategy. It is also the most common type of negotiation that usually takes place in most industries, particularly manufacturing and packing.

Leave a Reply