Sales Negotiation 2

Question 1

What is the 'anchoring' technique in negotiation?

Accepted Answer

Setting an initial reference point that influences the entire negotiation

Answer

Anchoring means making the first offer to set a reference point that psychologically biases the negotiation in your favor.

Question 2

In a salary negotiation, a candidate states 'I'm looking for $90,000–$100,000.' The employer responds with $85,000. What should the candidate do next?

Accepted Answer

Restate the lower bound of their range ($90,000) and justify it with market data

Answer

Restating the lower bound of the original range keeps the anchor in play and signals the candidate's minimum acceptable offer.

Question 3

Which of the following best describes 'BATNA' in negotiation?

Accepted Answer

Best Alternative to a Negotiated Agreement

Answer

BATNA (Best Alternative to a Negotiated Agreement) is the course of action you'll take if the current negotiation fails.

Question 4

A prospect says, 'Your price is too high.' What is the most effective response?

Accepted Answer

Ask 'Compared to what?' to understand their benchmark

Answer

Asking 'Compared to what?' uncovers whether price is a real objection or a negotiating tactic.

Question 5

What does 'logrolling' mean in a sales negotiation?

Accepted Answer

Trading concessions on issues of different priority to both parties

Answer

Logrolling involves trading concessions where each party gives up something they value less to gain something they value more.

Sales Practice Test

Sales Practice Test

Sales Negotiation 2