bargaining-techniques

Vocabulary Word

Definition

'Bargaining techniques' are the tactics, both verbal and non-verbal, employed to negotiate or haggle. They can involve persuading, compromising, playing hardball, or using silence as a tool.

Examples in Different Contexts

In international trade, mastering bargaining techniques is crucial for securing favorable trade agreements. A trade negotiator might comment, 'Understanding cultural nuances and strategic patience are essential bargaining techniques in international negotiations.'

Practice Scenarios

Tech

Scenario:

We have discussions lined up with the software vendors next week. Their licensing cost is slightly higher than our budget.

Response:

If we incorporate good bargaining techniques, we could possibly negotiate a license cost within our budget.

Leadership

Scenario:

There's a disagreement about project priorities between the development and design teams. We need to find a balanced solution.

Response:

Perhaps we can use collaborative bargaining techniques to guide both teams towards a compromise.