GOING, GOING, GONE Buyer Says: “I’m talking to [name of your competitor] later, and I’m confident we’ll go with them.” Description: A competitor-centric form of time pressure where “if you don’t accept the agreement, somebody else will.” Response Strategy:
• Decide if it’s a bluff or real—the buyer may be doing this with other vendors as well. • Know your BATNA (best alternative to a negotiated agreement). • Make a Best and Final offer, which may be one further value add or concession.
• Always be willing to walk.
2. RED HERRING Buyer Says: “We’re really concerned about this huge issue...” (But, in reality, they’re not.) Description: Buyer distracts the negotiation by introducing an unimportant issue to the seller, but making
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• Don’t cave - search for a better solution.
6. ONE LAST THING Buyer Says: “I can get that signed today if you give this one last concession...” Description: Buyer catches the seller at their most vulnerable point and uses eagerness to get the deal done to wring out final concessions. Response Strategy:
• Don’t be tempted to cave.
• Remind the buyer that the process to get to final includes flexibility on both sides.
• Respond with questions and a trade offer.
7. “CHERRY PICKING” Buyer Says: “I know I said our initial order would be 5,000 units with 5 components, but we’ll just need this piece first...” Description: Buyer tries to unbundle a solution, but assumes all will be the same price when it isn’t. Response Strategy:
• Make sure to respond that it won’t work immediately to address the issue.
• Note on proposals that price assumes “this solution and volume” and changes will affect the overall price structure.
• Engage discussion to work out appropriate pricing.
8. “WE’RE DONE” Buyer Says: “We can’t go forward with what you’ve proposed...” Description: Scare tactic to see if you’ll cave to the buyer’s communication that they will walk. Response