PowerPoint Presentation

Enjoy Bargaining?

Bargaining

Sample Dialogues

Introduction & Theory Vocabulary & PhrasesExercises

Me? I love to bargain with people. It is just so much fun, if you do it with a smile. I try to bargain with people all the time and we have fun and most times I pay what I am willing to pay for the product.Haggling is a word for bargaining over prices. Negotiating is the polite word.

Most of the people in the world haggle over prices, especially in bazaars and markets where there are many vendors.

In the United States, people do not haggle in stores like Walmart. Most American retailers use Sales to offer their best prices.

But haggling is an ancient custom. Are you good at it? Do you enjoy doing it?

Introduction & Theory

If you only worry about the sellers feelings, it is going to be hard to get the price down.

The experts say, The person who cares least always wins. If a seller doesnt reallyneedthe sale, or cares less than the buyer, then the seller wont come down in price.

In bargaining, it is important to be fair and ethical. Do not take advantage of someones need to make a profit.

Try to not hurt peoples feelings. Watch your body language, make eye contact and be sincere. Do not overdo it. Keep the exchange pleasant. You are better off if you know the value of the item. Try and get to a fair price, not necessarily the lowest price.

If you do not bargain, you will not know if you paid the right amount. You have a 50/50 chance of lowering the price if you bargain. If you believe the seller is expecting you to haggle, the whole process will be enjoyable.

Garage andyard sales are good places to start .

How do you ask for a discount at the posh Mall next door with your head held high? How do you convince your client that your services come at a fixed charge? After all, you do not indulge in any kind of bargaining when it comes to offering your consultancy.What about striking a deal? Negotiating a deal or agreement with business groups and organizations or Government representatives; involves the use of technically professional language.You are at a flea market and see a vase you like. The vendor tells you its $20. You think the price is rather expensive. How do you bargain his price (you might also try to haggle the price)?

Take a look at these expressions:

1. Start from the lowest price: Ill give you $8. The vendor will then either accept it or counter with another price.

2. Let say, he counters you with another price, you may say Is that the best price you can give me? How about $10? Thats my last offer.

Another situation: You are at an automobile dealership, and the salesman quotes you a price on a new Cadillac.

Heres how you want to handle that situation:

1. When he tells you the price, you raise your eyebrows with surprise, as if you cant believe what youre hearing. You then ask him is that the best you can do?

2. When he starts making excuses, you interrupt and mention the salesman at (name a competing dealership) quoted you a price that was $3,000 less for a fully loaded Lincoln. (Lincoln is a car comparable to a Cadillac, but made by a different manufacturer.)

3. When the salesman tells you thats the best he can do, you thank him for his time, then turn and start to leave. Most of the time, he will stop you and say Hold on, let me talk to my manager, I think we can do business.

VocabularyPhrases

Bargains

Negotiations

Bargaining word meaningalternatives other optionsWe can't offer you the raise you requested, but let's discuss some otheralternatives.Amplify expand; give more informationCould youamplifyon your proposal please?Arbitration conflict that is addressed by using a neutral third partyWe're better to settle this between us, because a formal arbitrationwill cost both of us money.Bargain try to change a person's mind by using various tacticsWebargainedon the last issue for over an hour before we agreed to take a break.

bottom-line the lowest one is willing to goI'll accept a raise of one dollar per hour, but that's my bottom-line.collective togetherThis is acollectiveconcern, and it isn't fair to discuss it without Marie present.compensate make up for a lossIf you are willing to work ten extra hours a week we will compensateyou by paying you overtime.comply agreeI'd be willing tocomplyif you can offer me my own private office.compromise changing one's mind/terms slightly in order to find a resolutionWe are willing tocompromise on this issue because it means so much to you.

concession a thing that is granted or acceptedI think we can offer all of these concessions,but not all at once.conflict resolution general term for negotiationsIt is impossible to engage in conflict resolutionwhen one of the parties refuses to listen.confront present an issue to someone directlyIconfrontedmy boss about being undervalued, and we're going to talk about things on Monday.consensus agreement by allIt would be great if we could come to aconsensusby 5:00 P.M.cooperation the working togetherI have appreciated your cooperationthroughout these negotiations.

demands needs/expectations that one side believes it deservesThey had some last minute demandsthat were entirely unrealistic.counter proposal the offer/request which is presented second in response to the first proposalIn theircounter proposalthey suggested that we keep their company name rather than creating a new one.counterattack present other side of an issueBefore we could start our counterattackthey suggested we sign a contract.counterpart person on the other side of the negotiationsI tried to close the discussions at noon, but mycounterpart would not stop talking.cordially politelyIn the past I have had little respect for that client, but today she spokecordiallyand listened to my point of view.

.flexible open/willing to changeWe have always beenflexible in terms of your working hours.deadlock point where neither party will give inWhen the discussions came to a deadlockwe wrote up a letter of intent to continue the negotiations next week.dispute argument/conflictI was hoping to avoid discussing last year'sdispute, but Monica is still holding a grudge.dominate have the most control/stronger presenceMax has such a loud voice, he tends todominatethe conversationsentitled be deserving ofMy contract says that I am entitledto full benefits after six months of employment.

indecisive has difficulty choosing/making a decisionThey were soindecisivewe finally asked them to take a break and come back next week.haggling arguing back and forth (often about prices)We've beenhagglingover this issue for too long now.hostility long-term anger towards anotherI want you to know that we don't have anyhostility towards your company despite last year's mix-up.high-ball make a request that is much higher than you expect to receiveI'm planning tohigh-ballmy expectations when I open the discussion.impulse quick decision without thought or timeI acted onimpulsewhen I signed that six-month contract.

mutual agreed by both or allThe decision to call off the merger wasmutual.leverage (bargaining power) something that gives one party a greater chance at succeeding over anotherWe have a little bit ofleverage because we are the only stationary company in town.log-rolling trading one favour for anotherAfter a bit oflog-rollingwe came to an agreement that pleased both of us.low-ball offer something much lower than you think the opponent will ask forI was expecting my boss to low-ballin the initial offer, but he proposed a fair salary increase.mislead convince by altering or not telling the whole truth about somethingTheymisledus into thinking that everything could be resolved today.

receptive open to/interested in an ideaHis positive body language demonstrated that he was receptiveto our suggestions.objective goal for the outcomeMy primeobjectiveis to have my family members added to my benefits plan.point of view person's ideas/ thoughtsFrom mypoint of viewit makes more sense to wait another six months.pressure work hard to convince another of an ideaHepressuredme to accept the terms by using intimidation tactics.proposal argument to presentWhile I listened to their proposalI noted each of their objectives.resentment anger held onto from a previous conflictMary'sresentmentstems from our not choosing her to head the project.

trade-off terms that are offered in return for something elseLower payments over a longer period of time sounded like a fairtrade-offuntil we asked about interest charges.resistance a display of oppositionWe didn't expect so much resistanceon the final issue.resolve end conflict, come to an agreementBefore you canresolveyour differences you'll both need to calm down.tactics strategies used to get one's goals metThere are certaintacticsthat all skillful negotiators employ.tension feeling of stress/anxiety caused by heavy conflictThere was a lot oftensionin the room when George threatened to quit.

yield to give in to another's requestsThe client will onlyyieldto our conditions, if we agree to work over the holiday weekend.ultimatum a final term that has serious consequences if not metHisultimatumwas that if I didn't agree to give him the raise he asked for, he'd quit today without two weeks notice.unrealistic very unlikely to happenIt'sunrealisticto think that we will have all of our demands met.victory a winWe considered it avictory because they agreed to four of our five terms.

good faith- being honest about your intentions"If we negotiate in good faith, we are sure to reach an agreement eventually."commitment- an obligation to do something or deliver something"We've made a commitment on this point. If we don't do it, the agreement will fall apart."equivalent- a proposed agreement that is different from, but equal in value to, a previous proposal"We can't agree to that proposal, but here we would like to suggest an equivalent package for you to consider."facilitation- a process where people, called facilitators, try to make it easier for two people to reach an agreement"You may not reach a better agreement with facilitation, but you will reach an agreement faster."final agreement- the results of the negotiation that everyone agrees to put into action"After six long months, we now have a final agreement."

mediation- when a neutral person or group comes in to identify the issues, explore options and clarify goals"If we use mediation, it may help to move the negotiations forward.impasse- when two sides hold different positions that they are unwilling to change"We were close to an agreement but we suddenly hit an impasse over payment terms."intermediary- a person who communicates between the two sides of a negotiation"They've been negotiating through an intermediary after that big argument last week.issue- a topic that needs to be discussed in a negotiation"Money is the biggest issue in this negotiation, but resources and responsibilities are important issues too."

tentative solution- an agreement that depends on some conditions, so that it might not be a final agreement"At last we've reached a tentative agreement. Perhaps these long negotiations will be over soon."offer- one or more options that is sent by one negotiator to the other"Let's offer them a one-year service contract and see how they respond."package- a combination of options that has been offered as a solution"John put this package together last night. Let's look at each option and see if we really want to offer this."party- either side in a negotiation is called a party, whether one individual or a whole group"If party A accepts party B's proposal, then the negotiation is finished."

NegotiationsWord MeaningagentPerson or company that acts for another and provides a specified service.agreementArrangement between two or more people or companies.bargain priceReduced pricebedrock priceLowest possible price.commitmentEngagement or undertaking; to commit oneself.compromiseEach party gives up certain demands in order to reach an agreement.

conditionA stipulation or requirement which must be fulfilled.contractWritten agreement between two or more parties.counter-offerOffer made in response to an offer by the other party.counter-productiveHaving the opposite effect to that intended.dealA business transaction.discountReduction in price.estimateApproximate calculation of the cost.

feasiblePossible, something that can be done.figure outFind a solution; estimate the cost.know-howPractical knowledge or skill.joint ventureA way of entering a foreign market by joining with a foreign company to manufacture or market a product or service.negotiateDiscuss a business deal in order to reach an agreement.point outDraw attention to something (e.g. the advantages of your proposal).

quoteGive an estimated price (a quotation).rangeA selection of products sold by a company.rebateReduction or discount.supplyProvide customers with goods or services.supplierPerson or company that supplies goods or services.tenderA written offer to execute work or supply goods at a fixed priceturnkeyEquipment ready for use or operation (e.g. a plant or factory).

underestimateMake too low an estimate of something (cost, danger, difficulty).work outCalculate (e.g. price of something); find a solution.

PhrasesHow much is it?

How much is it?

What is the price?

How much will you let it go for?

Can you lower the price for me?

I'll give it to you for...

I'll let you have it for...

discount

bargain (n)

open-air market

sale

fixed prices

to lower

to bargain (negotiate)to give (as a gift)

2 for 1

on sale

on sale

free

my last offer

percent

Ill give you $8.

Is that the best price you can give me? How about $10? Thats my last offer.

is that the best you can do?

Hold on, let me talk to my manager, I think we can do business.

Is that your best price?

Can you lower the price?

Can you make it lower?

Thats too expensive. How about $?

Is there any discount?

Can I get a discount?

How much is this and this (pointing at the items) altogether?

Well, I was just going to look around, I wasnt sure Id be buying today. If only it was $10 less

Im still looking around, I think I might be able to find it at a better price. Thanks for your time.

"Our company's policy is..."

"True, but we do not work on these conditions..."

"Sorry Sir, our Terms and Conditions are fixed..."

Im a regular customer, Cullen. $2,00 is too much.

I come here almost every day! Lets make it $1,75!

Thats a lot of money for an old car

I dont think I want to pay that much. Thanks, anyway

Ill have to go to the bank, and Ill be back in a little while.

Ill be right back with the money.

Thats really expensive for this place. I was thinking something more like $700.000,00.

Well, I dont think Ill go any higher than $720.000,00. Talk to the owner and let me

Language to use to show understanding/agreement on a point:I agree with you on that point.

That's a fair suggestion.

So what you're saying is that you...

In other words, you feel that...

You have a strong point there.

I think we can both agree that...

I don't see any problem with/harm in that.

Language to use for objection on a point or offer:I understand where you're coming from; however,...

I'm prepared to compromise, but...

The way I look at it...

The way I see things...

If you look at it from my point of view...

I'm afraid I had something different in mind.

That's not exactly how I look at it.

From my perspective...

I'd have to disagree with you there.

I'm afraid that doesn't work for me.

Is that your best offer?

Language to use in closingIt sounds like we've found some common ground.

I'm willing to leave things there if you are.

Let's leave it this way for now.

I'm willing to work with that.

I think we both agree to these terms.

I'm satisfied with this decision.

I think we should get this in writing.

I'd like to stop and think about this for a little while.

You've given me a lot to think about/consider.

Would you be willing to sign a contract right now?

Let's meet again once we've had some time to think.

body languagepossible meaningavoiding eye contactlyingnot interestednot telling the whole truthserious eye contacttrying to intimidateshowing angertouching the face / fidgetingnervousnesslack of confidencesubmissionnoddingagreeingwilling to compromiseshaking the head / turning awayfrustratedin disbeliefdisagreeing with a point

Bargaining in ChinaBargaining for Local PotteryPrice BargainingHow much are those apples?Car for SaleCar for Sale part 2Buying a HouseDialogues in Bargaining

Jerry: Fay, I heard that people have to bargain whenever they go shopping in China. Is that true?Fay: Well, you don't have to bargain when you go to a department store or a supermarket, but in most other places, you can try to get a better price.Jerry: We rarely do that in the States. I'm not really sure how to do it. Could you give me some pointers.Fay: Sure, it's easy. Anybody can do it. The first thing you must do is some research. Ask around and find out what a fair price is for what you want to buy. When you know what a normal price is, you are ready to bargain.Jerry: That makes sense. If I don't know what a fair price is, the seller can ask for any price, and I would probably pay it! So, now I'm ready to go to a market. What's next?Fay: First, ask how much something is. In Chinese that's, "Duo xiao qian?". If the price is much higher than you're willing to pay, say so. In Chinese you would say "Tai guay le". Then you ask for a lower price. You should offer less than what you really want to pay.Jerry: That way, I can bargain up to my price, right?Fay: Right! The seller will make a counter-offer. If you think it's still too high, and the seller refuses to go any lower, just walk away. If the seller is really able to meet your price, he or she will call you back. In that case, don't give in. Keep trying to get your price.Jerry: What if the seller doesn't call me back?Fay: You can always try again with the next vendor. If the seller's last price is not too high, you might accept it. Just be sure you don't pay too much!Jerry: That seems pretty easy. Bargaining sounds like a lot of fun!Fay: It is! And just like with learning a language, you'll get better at it the more you practice

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Vendor:Hello, Madam, What can I do for you today?Customer:(picking up a beautiful hand-painted plate) This is quite lovely. Where was it made?Vendor:Oh, I see you have excellent taste. Yes, that is beautiful, isn't it? It's local pottery. I think it was painted here by a local artist.Customer:It's really something... do you have anything else by this artist?Vendor:Well, I'm not really sure who exactly painted which pieces of pottery, but here are some similar pieces.Customer:No, they're really not the same.Vendor:Well, how about these here? I had them brought in just this morning.Customer:Yes, those are quite nice. What about the prices?Vendor:Obviously, it depends on what you would like to buy. That plate that you were first looking at costs $50.Customer:$50! That's quite expensive. I can't afford that.Vendor:Remember these are hand painted pieces of pottery, that kind of handicraft work doesn't come cheaply.Customer:Yes, I understand that. But I really think that $50 is just too much.Vendor:Listen, I can see that you are in love with that plate.Let's just make it $45. I'd really like you to take that home with you.Customer:How about $35. I really can't go any higher than that.Vendor:I really can't, I mean that would be selling at cost.Customer:Well, $38 is absolutely the most I can spend.Vendor:All right. I really shouldn't. The artist is going to have me put out of business for selling his wares at such low prices.Customer:Come, come. Let's not exaggerate.Vendor:You're a clever one, aren't you?Customer:I'm just someone who pays close attention to what I spend.Vendor:There's no shame in that. Here you are. (hands the plate to the customer)Customer:Thank you very much.Vendor:Thank you, have a pleasant day.

Lucy: Does thiscome inany other colors?Man: Yeah, wehave thisoneinwhite and blue. I also have this other style in green.Lucy: How much is the blue one?Man: It's $32.Lucy: $32? What about the green one?Man: That's $30.Lucy: That seems a little high.Can you do better on the price?Man: This is a designer bag and it's good quality. It's abargainat that price.Lucy:Is that your best offer?Man: That's the best I can do.Lucy: Well, I don't know. I think I'llshop around.Man: Okay, how about $28.Lucy:That's still more than I wanted to spend.What if I take the blue one and the green one?Man: I'll give you both of them for $55.Lucy: That's not much of abreakon the price. How about $50 for both?Man:You drive a hard bargain.The best I can do is $54. You won't find it cheaper anywhere else.Lucy: Why don't wesplit the differenceand make it $52?Man: Okay, okay.You've got a deal.

Martha:How much are those apples?Cullen:Theyre $2,50 a pound.Martha:What about those bananas?Cullen:Theyre $2,00 a pound.Martha:Thats so expensive! I bought bananas for $1,50 just yesterday!Cullen:The prices went up today. I have to charge more.Martha:Hey, Im a regular customer, Cullen. $2,00 is too much.Cullen:Ok, Mrs. Patterson. How does $1,80 sound to you?Martha:Well, it does sound better, but $1,70 would be fairCullen:Mrs. Patterson, youre killing me here! Wheres my profit?Martha:Come on, Cullen! I come here almost every day! Lets make it $1,75!Cullen:All right! You win! You drive a tough bargain, Mrs. Patterson! How many pounds you need?Martha:Give me 2 pounds.

Ginna:Excuse me. I was driving by and saw the For Sale sign on your car. How much are you asking?Vinnie:Well, its a classic. And its almost in mint condition.Ginna:Theres a dent over here. How much?Vinnie:Im asking twenty five grand.Ginna:Thats a lot of money for an old carVinnie:An old car?! What do you mean? Im only selling it because Im getting married. This is a great car!Ginna:Ill give you fifteen!Vinnie:Fifteen!!?? Lady, I cant sell it for fifteen! The tires are brand new and everything in it is original! Ill let it go for twenty three. Not a penny less.Ginna:Well, I dont think I want to pay that much. Thanks, anywayVinnie:Lady, have a heart! Wait! Well, how about twenty two?Ginna:Twenty one and Ill pay cash.

Vinnie:So, youll pay twenty one grand cash?Ginna:Seems fair to me.Vinnie:Ok, then. Deal. Do you have the money on you?Ginna:Of course not! Ill have to go to the bank, and Ill be back in a little while.Vinnie:While you do that, Ill get the papers so we can sign. Ill wait for you here.Ginna:Do you have an extra set of keys?Vinnie:Yes! I have everything. Even the manual is still in the glove compartment.Ginna:Great! My husband is going to love it!Vinnie:Its a gift for your husband? Wow, hes a very lucky guy.Ginna:I knowIll be right back with the money.

John:So, what do you think? The house is really well located, and the schools in this neighborhood are great.Duke:How much do they want for it?John:Theyre asking $820.000,00.Duke:Thats really expensive for this place. I was thinking something more like $700.000,00.John:Its not expensive at all. And the house was just refurbished. Everything is new.Duke:Well, I dont think Ill go any higher than $720.000,00. Talk to the owner and let me know.John:Well, Ill talk to him. But thats way below what he expects. And besides, thats market priceDuke:Talk to him. Call me when you know something.

Exercises Bargaining at a Flea-MarketVocabulary Negotiations

This quiz will test your understanding of what you learned on thevocabularyslides.1. The parties came to_________________ after five hours of negotiating. a hostility b bottom-line c consensusc2. It was___________________ decision to settle our differences out of court.

a a flexable b a mutual c an unrealistic b3. One______________that always works is to ask your counterpart to speak first. a tactic b bargain c resistance a4. We would have more__________________ if we had some more recent statistics to use.

a haggling b concession c leveragec5. They were_________________to our proposal until we made our last demand.

a hostile b receptive c resistantbCheck Answers

6. We were___________________over prices all afternoon. a misleading b conflict c haggling c7. I wasn't expecting our opponents to_______________+so quickly.

a amplify b yield c arbitration b8. When I_______________________the client about their promise they agreed to honour it.

a log-rolled b entitled c confronted c9. If that is your only________________I would be happy to concede.

a pressure b objective c victoryb10. The negotiations had already ended in a____________________within ten minutes of starting.

a deadlock b counterpart c collective aCheck Answers

Are the following statements True or False?1. During negotiations, one should treat an opponent with respect and consideration at all times.

True FalseT 2. In "competitive" negotiations, the two parties try to establish a common goal.

True FalseF 3. Prior to engaging in negotiations it is wise to consider one's own "bottom-line".

True FalseT 4. When in salary negotiations, employees should "low-ball" in their opening remarks.

True FalseF 5. Markus had no "bargaining power" compared to his boss, Louis.

True FalseF Check Answers

6. One key to effective conflict-resolution is to deal with issues rather than personalities.

True FalseT 7. It may be possible to detect that a counterpart is lying by observing body language.

True False T 8. One should never admit to agreeing with an opponent during the course of negotiations.

True False F 9. Markus intimidated Louis into accepting his terms by threatening to quit.

True FalseF 10. Louis used last-minute tactics such as acting as though he was "Mr. Nice Guy".

True FalseT Check Answers

Bargaining at a Flea-MarketQ: What's the customer interested in? a Some local pottery b Some hand-painted cups c Some handmade clothesQ: What's special about the items? a They're handicraft work. b They're produced in Germany. c They're porcelain.Q: Which price do they settle on? a $50 b $35 c $38

Q: What does the vendor say the artist is going to do? a Put him out of business b Give him a raise c Provide a refundQ: Why does the customer demand a lower price? a The customer pays close attention to what he spends. b The customer is very poor. c The customer claims the plates are made in a factoryCheck Answers A A C A A

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