Success in business is contribution of various factors such as promotion, marketing method and negotiation, needless to mention if negotiation is suitably performed can fetch better margin or saving on cost. We must see negotiation and two side of coin where as one part is negotiation under selling and another function is purchase department.

Before adoption of the art of negotiating, one must keep in mind negotiation consequently result in win- win situation for both the parties, for long term effectiveness and negotiation outcome should assured that its mutual gain and solution acceptable to both parties.

All negotiation practices should offer substitutive benefits to the opposite party, for instance if given quotation is not acceptable to buyer due to incumbent competition, the quotation should accompany some form of substitute benefit, that in form of extended credit period, logistic support etc.

One must accept that art of negotiation is not intelligent quotient but it is emotional quotient, hence right timing, favorable occasion and perfect break through are requisite for initiative. We are well aware that during negotiation lot of resistance from opposite party shall be confronted hence be ready with various options before being part of session, hence alternative solution can be offered if preferred solution is not acceptable.

Cool headed and calmness is pre-requites for negotiation session, it may lead to offend the other person if leads to proving ones point right. Although assertiveness has to be there without demeaning others point.

Marketing fundamentals says “different approach to different people”, hence as primarily preparation phase identify the personality traits and put forward the negotiation approach likewise, this not only helps in keeping the right track for successful negotiation but helps discover the variance from one customer to another for all future deals.

Negotiating is certainly an intricate process with very low degree of perception that it would turn out to be successful or not, but certainly for any sales/purchase person worth mastering.

However if ones professional profile demands the perfection in this task and part of work profile the success of same matters lot and with various case studies one can learn the facts responsible for success or failure of negotiation, and if followed the above tips, the process becomes easier.