Mastering the use of power of size or volume in negotiations

Description

This Skill Bit shows that leveraging size or volume in negotiation involves utilizing your company’s scale to secure better terms or prices. For instance, as a large buyer, you can negotiate discounts based on order volume. Conversely, large sellers can dictate favorable payment terms or prices due to their extensive customer base. To succeed, understanding market dynamics and demonstrating value is crucial. However, avoid creating an unfair dynamic by fostering collaborative negotiations, ensuring mutual benefit, and maintaining respectful relationships.

Duration approx. 2 Min.

Tier: proficiency