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Improve Your Negotiation Skills By Employing These Examples On Overcoming The Vice Tactic In Your Business Negotiations
The Vice Tactic is a negotiation tactic that is regularly used to support business related transactions. Have you ever been in a discussion where you have been asked to improve your previous offer without being given a specific target?
Example: Buyer to Seller
'Thanks very much for your proposal. We like what we see but regrettably we need you to improve your bid. Please go away and come back with an improved offer. '
To the inexperienced sales person this may seem like a great buying signal and that by reducing the price they will ensure that they get the bid. However, what happens in truth is that when the sales person gets back to them with a better offer the whole tactic is repeated again.
Example: Buyer to Seller:
'Thank you very much for bettering your offer. I have discussed it with our Finance Director and she believes that if you can further better your bid we will be able to get much closer to reaching a settlement.'
It is obvious that the buyer is tightening the Vice tactic continuously without giving the sales person a budgeted price. This suggests that the buyer will continue to ask for an improved price as long as each request is met with a reduction.
To avoid falling in the trap to the use of the Vice tactic you must ensure that you ask for a budget in response to a request for a concession and you will better your negotiation skills at the same time.
Example: Buyer to Seller
'Thanks very much for your proposal. We like what we see but regrettably we need you to improve your bid. Please go away and come back with an improved offer. '
Seller's Response
'I am not convinced whether it will be possible for us to increase our offer to such a degree that it meets your aims. To help us in understanding whether it will be likely for us to close the gap between our current tender and your preferred outcome it would be very helpful for us to appreciate what level of offer you would be willing to accept.'
Enhance your negotiation training by deploying this counter tactic at the next opportunity.
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