Negotiation Strategy Article Analysis - Essay Example

For this study, two articles that clearly describe a negotiation situation will be compared and contrast. After comparing the different negotiation strategies employed in two different scenarios, ways on how these strategies could apply in my work setting will be tackled in details. Because of the tight competition in the market today, the ability of businessmen and sales personnel to negotiate on prices becomes very important. The article written by Jennifer Davies entitled “How can I haggle for better price?

” discussed the importance of creating a situation that could trigger the need to negotiate, the importance of not being afraid to bargain the price and be prepared for the negotiating part, and talking with the right person who could offer you big discounts (Davies, 2009). Similar to the article written by Davies (2009), another article posted on The Week also acknowledged the importance of haggling for prices (The Week, 2009). Whenever a person negotiates for price, both articles revealed that having confidence while in the process of negotiating the price is important.

To do so, one needs to know the existing market prices of the product and services being negotiated with the seller. Being confident while negotiating the prices does not necessarily mean that the buyer will be under the power of the seller but to consider the interests of both the buyer and the seller. There is a thin line between being confident and persistent in closing a business deal as compared with being over confident which could often be wrongly perceived as being “boorish brute” (The Week, 2009).

Therefore, buyers who need to negotiate the price with the seller need to have the charm, intelligence, and wit. Having all these positive characteristics is not always effective unless the buyer is dealing with the right person who has the legitimate authority to offer a bargain price. Once a buyer asks for a very high bargain like 50% discount off the