Student id

  • Category:
    Marketing
  • Document type:
    Assignment
  • Level:
    Masters
  • Page:
    3
  • Words:
    1540

Negotiations

Table of Contents

2Executive summary

2Introduction

3Discussions

4Conclusion

5Recommendations

6References

Executive summary

The report is about negotiation where the elements affecting the efficiency of negotiations are analysed. The report is trying to interpret the primary elements that affect the way negotiations are done to achieve the set objectives. The challenges facing effectiveness of negotiations are adequately explored in the report to give more insights to the reader about the challenges affecting negotiations. The various factors that do influence the power of negotiations among individuals are analysed where communication is considered as the major determinant of the effectiveness of negotiations. The key concepts in planning negotiations are analysed. Besides, strategies necessary for adaptation and preparation of negotiations are clearly explained in the report. The various perspectives and factors that do influence the effectiveness of negotiations are discussed in the report.

Introduction

Negotiations are applicable in different situations in the management of organizations of different sizes. Many organizations are looking for the employees who have excellent negotiation skills especially for a position that involve interactions. For instance, marketing officers need to possess excellent negotiation skills that can ensure that they are in a position to negotiate for various deals. Negotiations are considered essential in different decision mag processes. The employees who have excellent negotiation skills are in a position to ensure that their opinions and views are considered in the decision-making processes (Kopelman, 2006). A position like marketing needs employees who can be in a position to negotiate prices and other things related to the products of the company. Communications are considered essential in the process of developing the negotiation skills. This is because negotiators rely on the power of communicating to ensure that they are in a position to convince the other parties in negotiations.

Discussions

The negotiations with Riggs shaped my negotiations skills. We were striking a deal with Riggs where I was representing Vericomp Company. I the negotiations I was trying to make Riggs understand the benefits of the computer chips manufactured by the company. Riggs was opposing the set prices where he wanted me to lower the prices. I tried to exercise my convincing power that could ensure that Riggs could be in a position to understand the many benefits of the products (Saner, 2012). Riggs was arguing that I had lower the prices a bit, but I ensured that I gave the benefits associated with products that could ensure that he was convinced to buy the computer chips at the said prices. In my arguments, I made sure that I communicate the benefits of our products over those of the competitors.

During the arguments, I had to inform Riggs the advantages of buying the products from my company and the differences that existed between my products and those of the other businesses in the market. This includes the pocket-friendly prices of our products considering the services the buyer could get from the products. Also, I made Riggs aware of the unique services offered by the company to the buyer to ensure that the customers can be repeat customers due to the excellent services (Van, et al. 2004). I ensured that I offer alternative options that he could be in a position to choose among various alternatives hence convincing Riggs better through offering various service options that were mainly towards meeting his price focus during the negotiations. My arguments during the negotiation were focusing on making Riggs understand the value associated with the products and how the buyer could benefit from the various options entailing the payment schedule (Gates, 2011). Riggs finally was convinced and agreed to purchase the products as I was in a position to make him understand the benefits of the products.

Before the negotiations with Riggs, I did not know the benefits of having convincing power in striking deals. I managed to convince Riggs to purchase the products due to my high convincing power. Besides, I was not aware of the benefits of ensuring that I understand the customer properly. I realized that understanding the customer before making the argument is crucial to ensure that the arguments can be in a position to be convincing (Davidson, 1999). After the negotiations, I realized the benefits of negotiation skills in making decisions. For instance, in the case involving me and Riggs, the direction of the final decision was entirely dependent on my convincing power. I managed to convince the buyer who was Riggs to make the decision of making the purchase at the prices I was telling him during the negotiations.

Besides, after the negotiations, I came to understand the benefits of excellent communication skills in the process of ensuring convincing arguments during negotiations. I also realized the possible challenges that are likely to affect the negotiation process making the negotiations fail to achieve the set objectives. I realized the benefits of ensuring proper control of emotions especially during negotiations (Barry, et al. 2004). Failure to control emotions can be a challenge in the process of ensuring that the negotiations are successful. Besides, providing proper interpersonal skills during the negotiations can be crucial in making sure that the necessary body languages are expressed during the negotiations. The use of body language and expression can be critical communication tools making the other party feel much convinced.

Conclusion

Negotiations have proved to be useful in organizations especially in the marketing field. Marketers are expected to make various strategies aimed at ensuring that the products are competitive in the market. The main purpose of negotiation is to make sure that one is in a position to persuade the other party involved in the negotiations. The negotiation skills can only be developed properly if the negotiator has excellent communication skills (Bazerman, et al. 2000). A reasonable argument can be made possible by the use of effective negotiation skills by the parties involved in the negotiations. Many negotiators are finding it hard to convince the other parties in the negotiation process due to the lack of the necessary communication skills (Allred, et al. 1997). With proper communication skills, one can be in a position to convince the other parties involved in the negotiation process.

Recommendations

Negotiators need to ensure that they consider the necessary factors that can guarantee successful negotiations. This factor that the negotiators can consider ensuring successful negotiations can include pausing before persuading can be crucial in ensuring that the negotiations are successful. It ensures that the negotiators have the necessary time to assess the available counter arguments before making the persuasions. Pausing assists in arranging the necessary points that can help to ensure that the arguments are reasonable and convincing. Besides, pausing ensures that the necessary planning for the negotiations where the ideas of the negotiator can be arranged in a proper way that can guarantee successful negotiations (Atkinson, 2005). Planning ensures that the necessary ideas that the negotiator has to communicate are not left out due to the proper arrangement of the ideas to be commutated.

Second, considering the opposite can be very critical in ensuring that the arguments are relevant. It ensures that the information communicated by the other party in the negotiation is considered to ensure that the argument does respond to the argument of the other party. The argument can then be made consistent with the arguments presented by the other parties of the opposite side. This can involve weighing the arguments communicated to ensure that the arguments put forward can be convincing (Albarracin, 2003). Besides, negotiators need to develop their communication skills to make sure that they can be in a position to have convincing arguments. They should be in a position to make sure that they control their emotion so that they can accommodate the diversity that exists in the personalities of individuals.

References

Albarracin, D.; Kumkale, G.T. (2003). «Affect as Information in Persuasion: A Model of Affect Identification and Discounting». Journal of Personality and Social Psychology 84 (3): 453–469.

Allred, K. G.; Mallozzi, J. S.; Matsui, F.; Raia, C. P. (1997). «The influence of anger and compassion on negotiation performance». Organizational Behavior and Human Decision Processes 70: 175–187. 

Atkinson, Gerald G., (2005).The Effective Negotiator. The practical Guide to the strategies and Tactics of conflict bargaining. London; Quest Research Publications.

Barry, B., Fulmer, I. S., & Van Kleef, G. A. (2004)
 I laughed, I cried, I settled: The role of emotion in negotiation. In M. J. Gelfand & J. M. Brett (Eds.), The handbook of negotiation and culture (pp. 71–94)

Bazerman, M. H.; Curhan, J. R.; Moore, D. A.; Valley, K. L. (2000). «Negotiation». Annual Review of Psychology 51: 279–314. 

Davidson, M. N.; Greenhalgh, L. (1999). «The role of emotion in negotiation: The impact of anger and race». Research on Negotiation in Organizations 7: 3–26.

Gates, Steve (2011).
 The Negotiation Book. United Kingdom: A John Wiley and Sons, LTD, Publication. p. 232

Kopelman, S., Rosette, A., and Thompson, L. (2006). The three faces of eve: Strategic displays of positive neutral and negative emotions in negotiations. Organization Behavior and Human Decision Processes (OBHDP), 99 (1), 81-101.

Saner, Raymond (2012). Expert Negotiator (4th Edition). Leiden, NLD: Martinus Nijhoff Publishers. ProQuest ebrary. Web. 13 April 2016.

Van Kleef, G. A.; De Dreu, C. K. W.; Manstead, A. S. R. (2004). «The interpersonal effects of anger and happiness in negotiations» (PDF). Journal of Personality and Social Psychology 86: 57–76.