โ Sales & Brand Management learning pathSales & Brand Management ยท Module 7 of 10
Negotiation and objection handling
Reaching agreements both sides accept.
๐ Key ideas
- Negotiation aims for an agreement both sides can accept, not for one side to win everything.
- Know your walk-away point before you start.
- Trade, do not just give: if you reduce price, ask for something such as advance payment or a longer contract.
- Common objections are about price, timing, trust and need.
- Listen fully, acknowledge the concern, answer with evidence, then confirm it is resolved.
๐ก Real-life example: Like bargaining at a market in a respectful way: both the seller and buyer leave feeling the deal was fair.
Walk-away pointThe limit beyond which you will not agree
ConcessionSomething given up in a negotiation
Win-winAgreement good for both sides
Social proofEvidence that others trust the product