Negotiating can seem intimidating and most of the time, consumers pay the price marked on goods without question or abandon the sale and look for something cheaper. However, it is possible to get good and fair prices for goods through negotiating. For the trader asking for too much money for the watch we can negotiate until a lower price is reached. First, I will flinch at the mention of the watches price as if it is very disappointing. I will then put on a sad look and act shocked and then complain about how the price is high. Sometimes flinching can make traders drop the price immediately (Tracy 1). Then, I will also ask in a surprised and thoughtful way if the that is the best price the trader has to offer propose for the watch and if they can do better than that and then remain quiet so as to make them uncomfortable. Notably, this might make the trader fill the silence by trying to justify the offer and I will let him or her to keep talking and increase their insecurity. If the price is flexible, often the trader will drop the price immediately (Tracy 1).
If the trader is still adamant on the high price, I will tell them how I can get the watch cheaper somewhere else, maybe from their competitor in an attempt to demolish price resistance. When one tells a trader that they can get the same product at a cheaper price somewhere else, the trader loses their confidence and become more open to negotiating with the buyer for a better price which is better than losing the customer for them (Tracy 1). Similarly, I will be nice and friendly to the trader and try to establish a connection by finding some personal commonalties. By being polite and asking for price reduction in a pleasant way, it will be easier for the trader to concede to my request than if I am aggressive and confrontational. If after all my attempts the trader does not reduce the price of the watch I will walk away or verbally end the negotiation to motivate the trader to sate a lower price. The trader might or might not call me back for fear of losing a customer especially in the current state of economy. Therefore, I believe with my negotiation tactics I will be able to by the watch at a lower and fair price.
Tracy, Brian. “How to Negotiate Price: Get the Best Price | Brian Tracy”. Briantracy.Com, https://www.briantracy.com/blog/sales-success/how-to-negotiate-5-tactics-to-get-you-the-best-prices/.