Date 01/04/2015

Group and Cohort Group 6 | MGB | SBR 1

CEO:
Anish Sharma
Team Members: Ameya Sonkusale, Pooja Murthy, Sahil
Gupta, Sakshi Dalal, Yibo

Some of the common problems faced by the sales team in any company is the major demand for
concession on the products by potential customers. Generally, this would often result in profits but
at the same time triggers more demand for future concessions, while not offering any concession
could cost companies to lose good business.
Our team analysed the article and discussed key points that would result in win-win situation for the
customer and the company. Below are the strategies for negotiating with difficult customers:

Empathy has no
place in
negotiations

Listen to the
customer rather
than you talking

Ask appropriate
questions to
under the
customer's
requirements

Always analyze
concessions
before closing
out on the deal

1. Explore all the variables before negotiating: Negotiations take up resource costs, money and
time. Invest on all the variables only if it can positively influence the business and
build/preserve relationships. Avoid those that cause unreasonable wastage of these variables.
2. Listen and explore the customers agenda and needs: This can best be summarized as seek
to understand. Understanding and carefully listening to the customers needs and
requirements always result in the best businesses. Once we try and understand what the
customer is really looking for, we can put together a sales proposal that could result in a
successful deal.
3. Always look to preserve the customer: Customer loyalty could always result in wonders for a
company, in the form of new customers (through word of mouth affairs) as customer paths
always tend to cross frequently. If the negotiation is on with a long term customer then it is
of paramount importance to preserve the relationship as it is 5 times harder to retain the
existing customer than cracking new ones.

4. Establish and preserve the companys credibility: Support and substantiate any stand that
we take with appropriate foundations. Keep in mind the companys interest and express the
same to the customer in the most subtle way.
5. Always hold the nerve till the end of the negotiation process: Always be specific by putting
the stand that we wish to adopt and never give in to the emotions of negotiations.
6. Manage the concession process such that we dont give them away without getting anything
in return: Always learn to break deadlocks in any negotiation. This is however the last but the
most important step in any negotiation process i.e. negotiating the final terms of the deal.
Always offer terms of discount and concession in a realistic manner keeping in mind the
impact this may bear on the company as well. Make reasonable concessions and offers that
result in a complete win-win situation for the customer and the company and move forward
towards sealing the deal.