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Complete Guide For Mastery In Negotiation In Retail

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Good Buyer Great Negotiator – Fact Based Negotiation Skills – Black Belt In Retail Series

Negotiation is a critical activity of every retail Buyer.

What you’ll learn

  • Determine the most effective strategic approach by applying understanding of the relative importance of outcomes and relationships.
  • Identify the relative importance of power elements in a negotiation and apply them to the specific negotiation context.
  • Understand the influence of personality style on communication within negotiation and apply that knowledge to improve outcomes.
  • Identify the variables within a negotiation and prioritise them by developing a negotiation map.
  • Use concession trading to improve outcomes without compromising your objectives.
  • Use knowledge of how suppliers are trained in order to control the negotiation and improve outcomes.
  • Apply tactics that are appropriate to your objectives leading to improved outcomes whilst maintaining the relationship..

Course Content

  • INTRODUCTION –> 1 lecture • 1min.
  • THE MEANING OF NEGOTIATION –> 2 lectures • 7min.
  • SUPPLIER RELATIONSHIPS AND NEGOTIATION –> 3 lectures • 7min.
  • COMMUNICATION SKILLS –> 4 lectures • 14min.
  • PLANNING THE NEGOTIATION –> 6 lectures • 22min.
  • THE TACTICS OF EFFECTIVE NEGOTIATION –> 4 lectures • 20min.
  • WHAT MAKES A TOP NEGOTIATOR –> 1 lecture • 3min.
  • ASSESSMENTS –> 1 lecture • 17min.

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Requirements

Negotiation is a critical activity of every retail Buyer.

Why? Because the extremely competitive retail marketplace environment will continue to put increasing downward pressure on margins.

Most Buyers won’t only be negotiating with Suppliers, but also with their managers, stores, logistics departments and other internal departments.

For the purpose of this course however, we will focus on the negotiations that take place between Buyers and Suppliers.
Retail negotiation is not just about achieving better purchasing prices; it is a continuing activity required to resolve problems and develop new opportunities with Suppliers.

How skilful a Buyer is at negotiating has a major bearing on Supplier relationships and merchandise profitability.

Retail Professionals are constantly in a stage of negotiation, not just with customers, but also internal and external stakeholders, but more importantly with critical suppliers.

Negotiation is an essential skill when it comes to drawing up contracts and building key long term relationships.

The success of a negotiation is not just through potent convincing power but through managing the process, expectations and the perceptions of all parties in the negotiation.

This course will introduce methods and tactics used by professional negotiators.

It focuses on careful analysis and good process management to arrive at the best possible deal for both sides in a negotiation, an agreement that is enthusiastically implemented and accepted.

Negotiation is not just the gift of the gab, but it holds a great accountability to putting together an offer that is seen as a win/win and achieves closure without damaging the on – going relationship between the parties concerned.

Negotiation has a lot to do with persuading, bargaining, and trading concessions to achieve the best outcome that will satisfy both parties.

Negotiation therefore involves a degree of mutuality. Both parties must be prepared to live with the result.

Unfortunately, in many instances the mutuality element is missing and what passes for negotiation ends up being not far removed from an ultimatum or a form of blackmail.

This situation usually happens because the Supplier (or in some cases the retailer) has become dependent on the other party for their survival.

This sort of dependence can result in irrational decisions being made by the dependant party.

Learning Objectives :

  • Determine the most effective strategic approach by applying understanding of the relative importance of outcomes and relationships
  • Identify the relative importance of power elements in a negotiation and apply them to the specific negotiation context
  • Understand the influence of personality style on communication within negotiation and apply that knowledge to improve outcomes
  • Identify the variables within a negotiation and prioritise them by developing a negotiation map
  • Use concession trading to improve outcomes without compromising your objectives
  • Use knowledge of how suppliers are trained in order to control the negotiation and improve outcomes
  • Apply tactics that are appropriate to your objectives leading to improved outcomes whilst maintaining the relationship.

 

 

Curriculum Outline :

 

LESSON 1. THE MEANING OF NEGOTIATION

part 1. The meaning & importance Of negotiation

part 2. the context for negotiation

LESSON 2. SUPPLIER RELATIONSHIPS AND NEGOTIATION

part 1. supplier selection

part 2. knowing the supplier

part 3. how suppliers are trained

 

LESSON 3. COMMUNICATION SKILLS

part 1. the map of reality

part 2. skilful questions

part 3. active listening

part 4. observant seeing

 

LESSON 4. PLANNING THE NEGOTIATION

part 1. the planning checklist

part 2. market and product knowledge

part 3. identifying the supplier’s needs and assessing relative power

part 4. identifying the negotiating variables

part 5. establishing objectives

part 6. setting up the negotiation

 

LESSON 5. THE TACTICS OF EFFECTIVE NEGOTIATION

part 1. negotiation styles or modes

part 2. the organisational mode

part 3. the personal mode

part 4. important tactical issues

 

LESSON 6. WHAT MAKES A TOP NEGOTIATOR

part 1. What makes a top negotiator

 

LESSON 7. ASSESSMENTS

part 1. Assessments

 

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