Foreign trade negotiation skills and their application strategies
Foreign trade negotiation is a vital link in international trade. It not only represents the interests of buyers and sellers, but also reflects consultation, cooperation and trust. This article will combine the content of multiple articles to discuss techniques commonly used in foreign trade negotiations, such as the application of low-ball skills, leaving difficult problems to be solved until the end, the importance of specifying negotiation content, and how to use good faith war and differentiated price strategies, etc. means to improve the effectiveness of negotiations.
1. Side A and B of low ball skills
The low ball technique is a common and effective strategy in foreign trade negotiations. The core is to first attract the other party with an attractive price, and then propose some modifications that will not make the other party change their mind after the cooperation agreement is reached, in order to obtain more benefits. For buyers, using low-ball skills requires being good at pretending to sacrifice one’s own interests, showing a concession attitude, and then adding additional conditions to the contract that are beneficial to oneself. As for sellers, they need to remain vigilant and not be easily fooled by low prices. They need to carefully weigh various prices and take into account possible additional costs. Only on the basis of careful thinking can a mutually satisfactory deal be reached.
2. Don’t reveal your trump card too early, and guide negotiations step by step
We can prepare three price strategies: a price higher than the ideal price, an ideal price, and a price lower than the ideal price. In the early stages of negotiations, you can first promote the product’s advantages and display a price list that is higher than the ideal price to observe the customer’s reaction. Then, based on customer feedback, the price standard is gradually lowered and the ideal price is finally proposed. If the customer is still dissatisfied, then consider proposing the lowest price. This step-by-step guidance can not only maintain the flexibility of negotiations, but also ensure the interests of the company.
3. Be sincere and fight with sincerity
In negotiation, sincerity and sincerity are crucial. When customers show a tough or cold attitude, we can adopt a sincerity strategy, express our willingness to value cooperation, and emphasize our efforts to obtain the best terms. At the same time, some difficulties or challenges can be appropriately demonstrated to increase customer understanding and sympathy. When necessary, some small benefits or gifts can be given to express sincerity.
4. Leave the problems until the end
In foreign trade negotiations, we often encounter some thorny issues, such as price, product quality, transportation methods, etc. When faced with these difficulties, it is a wise strategy to put them aside for the time being and focus on solving other problems. This will not only help improve negotiation efficiency and reduce the fatigue of both parties, but also generate new creative ideas in subsequent negotiations, potentially solving previously shelved problems. Therefore, leaving difficult problems to be solved at the end will not only maintain the enthusiasm of the negotiation, but also be more conducive to the final success of the negotiation.
5. Set appropriate “bait” and take the initiative
In negotiations, cleverly setting “baits” can help us take the initiative. For example, when a customer makes a counteroffer request, we can set a higher discount expectation and make a counteroffer based on this expectation. This not only meets customer expectations, but also ensures the company’s interests. At the same time, we must also be alert to the “baits” that customers may set, keep a clear head, and not be easily influenced by them.
6. Know yourself and the enemy, and master the information advantage
Before negotiating, it is crucial to fully understand the client’s information and background. By collecting information from customers’ websites, social networks, search engines, etc., we can understand the customer’s business, market, products, etc. At the same time, we must also learn to proactively ask questions to customers during negotiations to further understand their needs and concerns and lay the foundation for cooperation.
7. Develop differentiated price strategies to flexibly respond to different customers
Different customers have different needs and expectations, so we need to develop differentiated price strategies to deal with them. For European and American customers, they tend to pay more attention to product quality, delivery and service, so we can increase the price appropriately while ensuring that the quality and service meet customer expectations. And for customers in some third world countries, they may pay more attention to price and quantity, so we can develop a relatively low price strategy to meet their needs. By formulating differentiated price strategies, we can better meet the needs of different customers and increase transaction rates.
8. Be sincere in solving problems and actively respond to customer complaints
In foreign trade, customer complaints are inevitable. When customers complain to us, we should face it with a positive attitude and show sincerity in solving the problem. First of all, we must listen carefully to customers’ complaints and dissatisfaction to understand the root and essence of the problem. Then, actively look for solutions to problems, propose practical solutions, and demonstrate our sincerity and efforts to customers.
9. Don’t waste customers’ time and advance the negotiation process efficiently
In negotiations, we should respect the customer’s time and avoid unnecessary delays and waste. Before communication begins, it is best to determine the client’s schedule in advance and try to accommodate it. After we have negotiated all the details with our customers, we must implement and execute them as soon as possible to ensure that the negotiation results can be transformed into actual business in a timely manner. By advancing the negotiation process efficiently, we can win the trust and respect of our customers and create more opportunities for future cooperation.
10. Learn to exchange conditions to achieve a win-win situation
When customers make unacceptable demands, we can try a quid pro quo strategy. That is, while meeting a certain requirement of the customer, you also put forward your own conditions or requirements. This can not only balance the interests of both parties, but also promote the smooth progress of negotiations. By exchanging terms, we can achieve a win-win situation so that both parties can get satisfactory results.
Conclusion
To sum up, the flexible use of various techniques and strategies in foreign trade negotiations can better coordinate the interests of both parties, resolve various problems, and ultimately achieve the goal of win-win cooperation.