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Develop Your Negotiation Skills By Using This Advice On Dealing With The Vice Tactic In Your Transactions
The Vice Tactic is a negotiation tactic that is regularly used in support of business related transactions. Have you ever been in a discussion where you have been asked to better your offer without being given a specific target?
Example: Buyer to Seller
'Thank you very much for your proposal. We like what we see but unfortunately we need you to improve your bid. Please go away and come back with an improved offer. '
To the new sales person this may seem like a fantastic buying signal and that by lowering the price they will ensure that they get the tender. However, what happens in truth is that when the sales person gets back to them with a better offer the whole tactic is repeated again.
Example: Buyer to Seller:
'Thanks very much for improving your offer. I have discussed it with our Finance Director and she believes that if you can further improve your bid we will be able to get much closer to reaching an agreement.'
It is obvious that the buyer is increasing the Vice tactic all the time without giving the sales person a budgeted price. This means that the buyer will continue to ask for an improved price as long as each request is met with a markdown.
To avoid falling in the trap to the use of the Vice tactic you must ensure that you ask for a budget in reply to a request for a markdown and you will better your negotiation skills at the same time.
Example: Buyer to Seller
'Thank you very much for your proposal. We like what we see but unfortunately we need you to improve your bid. Please go away and come back with an improved offer. '
Seller's Reply
'I am not sure whether it will be possible for us to increase our offer to such a degree that it meets your objectives. To help me in understanding whether it will be possible for us to bridge the gap between our current tender and your preferred outcome it would be very helpful for our business to appreciate what level of offer you would be prepared to accept.'
Enhance your negotiation training by deploying this counter tactic at the next deal.
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