Question

Explain the art of negotiating and an example to go with. :) ( A situation within very sophisticated work, mhm.)

Answer 1

Answer with Explanation:

The "art of negotiating" refers to negotiating while establishing relationships. This refers to providing a win-win situation between the negotiating partners.  Both the buyers and the sellers have different strategies in negotiating.

For example, if you are the buyer, you have to make sure that you know very well about the product or service that you are negotiating. If the seller senses that you don't know, it will be your weakness. Thus, preparation is a very crucial step.

On the other hand, if you are the seller, you also have to know whether the product you're selling is in high demand or not. If you are the only source of that product, then you have the "bargaining power." You can name your price. On the contrary, when the economy is depressed, the supply is usually high while the demand is low, so the buyer has a bargaining power in this situation.

Whatever the situation is, ensuring a win-win situation is needed in order to have a good deal. This is very important especially when you have to negotiate with the same person again and again.