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Anchoring and other negotiation tactics
Topic B - Team 1
Negotiation?
Negotiation
Even without realizing it, we negotiate everyday in our day-to-day lives.
How's that?
We negotiate with our partners...
...when shopping
...in our jobs
Negotiation can be tough...
We have a lot of questions in mind
How to start?
Should I be first to put a number on the table?
Should I negotiate in my territory?
Should I reveal my real needs?
Is there a better way to negotiate?
Should I put a number on the table first?
Should I negotiate on my territory?
Should I reveal my real needs?
Is there a better way to negotiate?
Should I put a number on the table first?
Should I negotiate in my territory?
Should I reveal my real needs?
Is there a better way to negotiate?
Should I put a number on the table first?
Should I negotiate in my territory?
Should I reveal my real needs?
Is there a better way to negotiate?
There are some best practices that can keep us from ruining our negotiations
Anchoring?
Anchoring
A tactic based on formulating the first offer...
This tactic modifies the
PERCEPTION
Psychological effect
the other party has of their bottom line.
Context
Perception?
What do we mean by that?
Let's take a deeper look
Is this a Big Ship?
Name
Position
And now? Is this a Big Ship?
Text
And now??
Name
Position
Text
...So, the VALUE
of something depends on
what you COMPARE IT TO
A.
?
20
Deal
15
20€
15€
Examples
Title
B.
?
40
Deal
20
40€
20€
C.
Deal
10
5
10€
5€
20€
15€
A
40€
20€
B
5€
10€
C
Some tips
Title
- Be well-informed in advance.
- Give your opponent the impression that you are well prepared.
- Notice early in the negotiation whether or not the other party is well-prepared.
- Decide if it is in your best interest to make the first offer.
- Make ambitious but realistic offers.
Tips for a Successful Anchoring
Other tactics
- Be well-informed in advance
- Give the impression of a well prepared opponent
- Notice early in the negotiation if whether or not the other party is well-prepared
- Decide if it is in your interest to make the first offer
- Make ambitious but realistic offers
Other Tactics
Other tactics
- Commit yourself inside the ZOPA
- Use credible threats
- Improve or weaken the BATNA