Using the power of market leadership in negotiations

Description

This Skill Bit shows that in negotiation, leveraging market leadership as a source of power is essential for securing favorable deals. Emphasizing dominance, customer base, and industry expertise can bolster bargaining strength. Being prepared to walk away communicates seriousness, while establishing credibility fosters trust. Employing market power ethically and respectfully ensures mutually beneficial outcomes and positive relationships. Strategic use of market leadership enables effective negotiation, securing advantageous deals and fostering productive partnerships.

Duration approx. 3 Min.

Tier: proficiency