Using the power of availability of future products in negotiations

Description

This Skill Bit shows that the power of future product availability is a potent negotiation strategy, leveraging access to coveted products or services. For instance, a tech firm might secure early access to cutting-edge components from a supplier in exchange for promising future business. This tactic capitalizes on urgency and scarcity, prompting concessions from the other party. Yet, transparency and feasibility are crucial to uphold trust and ensure commitment fulfillment. This approach fosters fruitful negotiations while respecting both parties’ interests and capabilities.

Duration approx. 2 Min.

Tier: proficiency