Develop Your Negotiation Skills By Using This Advice On Overcoming The Vice Tactic In Your Transactions
The Vice Tactic is a negotiation tactic that is frequently used in support of business related negotiations. Have you ever been in a situation where you have been asked to improve your previous offer without being given any specific target?
Example: Buyer to Seller
'Thanks very much for your tender. We like your tender but unfortunately we need you to improve your offer. Please 'sharpen your pencil' and come back with an improved offer. '
To the inexperienced sales person this may seem like a good buying indicator and that by reducing the rate they will guarantee that they get the business. However, what happens in reality is that when the sales person returns with an improved offer the whole tactic is repeated again.
Example: Buyer to Seller:
'Thank you very much for bettering your proposal. I have discussed it with our Finance Director and he thinks that if you can further improve your offer we will be able to get much closer to reaching a deal.'
What is happening is the buyer is tightening the Vice tactic continuously without giving the sales person a target price to aim at. This suggests that the buyer will continue to ask for a better price as long as each demand is met with a discount.
To avoid falling prey to the use of the Vice tactic you should always ensure that you ask for a budget in response to a request for a reduction and you will improve your negotiation skills at the same time.
Example: Buyer to Seller
'Thanks very much for your tender. We like your tender but unfortunately we need you to improve your offer. Please 'sharpen your pencil' and come back with an improved offer. '
Seller's Response
'I am not confident that it will be possible for us to increase our bid to such an extent that it meets your targets. To assist our business in understanding whether it will be likely for us to close the difference between our current tender and your objectives it would be very supportive to me to understand what level of offer you would accept.'
Enhance your negotiation training by deploying this counter tactic at the next opportunity.
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