Date 01/04/2015

CEO:
Anish Sharma
Group and Cohort Group 6 | MGB | Team Members: Ameya Sonkusale, Poo
SBR 1
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 winwin 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 winwin situation for the customer and the company and move forward
towards sealing the deal.