Concessions Tradeoffs

Nibbling

Definition: Asking for small additional concessions just before the final agreement.

Purpose: To incrementally enhance the value of the deal without significant resistance.

Example Scenario: Requesting free accessories after agreeing on a car purchase price.

How to Counter: Firmly state that the negotiation terms have been finalized.

Trade-offs

Definition: Exchanging concessions to achieve a balanced agreement.

Purpose: To maintain fairness and mutual satisfaction.

Example Scenario: Agreeing to a higher price if the payment terms are extended.

How to Counter: Evaluate carefully and propose balanced alternative trade-offs.

Bogey

Definition: Pretending a minor issue is significant to leverage concessions.

Purpose: To gain strategic advantage by conceding 'important' issues later.

Example Scenario: Acting very concerned about delivery dates to extract price concessions.

How to Counter: Ask detailed questions to gauge the true importance of the issue.

Quick Check 🚀

# What best defines nibbling? 1. [ ] Rejecting all concessions 1. [x] Small last-minute requests 1. [ ] Extreme initial offers 1. [ ] Immediate deal closure # The Bogey tactic involves: 1. [ ] Creating urgency 1. [x] Pretending a minor issue is major 1. [ ] Offering multiple options 1. [ ] Exchanging equal concessions # Trade1.offs are primarily used to: 1. [ ] Increase confusion 1. [x] Maintain balance in concessions 1. [ ] Speed negotiations 1. [ ] Finalize immediately # Scenario: After agreeing on a price, you request free delivery. You're using: 1. [ ] Bogey 1. [x] Nibbling 1. [ ] Trade-offs 1. [ ] Red Herring # Scenario: Your supplier claims delivery speed is critical but then agrees easily to delay it. They've likely used: 1. [ ] Trade-offs 1. [ ] Nibbling 1. [x] Bogey 1. [ ] Silence