Optimize Your Leads Management Process in Vendor Negotiations

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stages of negotiation there are five important stages in the negotiation process preparation and planning definition of ground rules clarification and justification bargaining and settlements agreements and closer let's look at one by one the first stage is preparation and planning this is the first step in the negotiation process here both parties will organize and accumulate the information necessary to have an effective negotiation in which we have to prepare for negotiation with proper planning to achieve your best alternative to a negotiated agreement the second stage is the definition of ground rules in this step rules and procedures will be established for the plan negotiation consideration will be given to questions such as who will do the negotiation will we do it personally or invite a third party where will the negotiation take place will there be time constraints placed on this negotiation process will there be any limits to the negotiation if an agreement can't be reached will there be any specific process to handle that besides both parties will try to figure out what price should be the starting point for the negotiation the third stage is clarification and justification once initial positions have been exchanged the clarification and justification stage can begin both parties will explain clarify and justify the original position or demands the fourth stage is bargaining and settlements this is the essence of the negotiation process where the give and take begins both parties will use various negotiation strategies to achieve the goals established during the preparation and planning stages you can use all the information you gathered during the preparation and planning process to present your argument and strengthen your position or even change your position if the other party's argument is sound and makes sense the last stage is agreement on closure in which we finalize agreements and conclude a deal once an agreement has been met this is the stage in which procedures need to be developed to implement and monitor the terms of the agreement they put all of the information into a format that's acceptable to both parties and they formalize it formalizing the agreement can mean everything from a handshake to a written contract this is all about the negotiation stages thank you for watching this video at CS Global we support make in India for more details about Outsourcing and Expediting services from India please go through our website