Concession Strategies & Tactics Flashcards
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What is the primary purpose of making a concession during a negotiation?
Answer: To move negotiations forward and build mutual agreement
Concessions are strategic moves designed to advance negotiations toward a mutually acceptable agreement, not to signal weakness.
Which concession pattern most clearly signals to the other party that you are approaching your reservation price?
Answer: Making decreasing concessions over time
Progressively smaller concessions signal to the other party that you are nearing your walk-away point and have little room left to move.
What is a 'token concession' in negotiation?
Answer: A small, low-cost concession made to demonstrate goodwill
Token concessions are minor give-aways used to maintain momentum and demonstrate goodwill without sacrificing significant value.
When is it most advisable to avoid making the first concession in a negotiation?
Answer: When your opening position is already close to fair market value
If your opening position is already near fair value, conceding first may signal to the other party that your position was inflated, undermining your credibility.
The negotiation tactic known as 'nibbling' refers to which of the following?
Answer: Requesting small additional concessions after a deal appears finalized
Nibbling involves asking for small extras after the main agreement is reached, exploiting the other party's strong desire to close the deal.
Reciprocal concession-making in negotiation is grounded primarily in which principle?
Answer: The norm of reciprocity, where a concession invites a counter-concession
The norm of reciprocity creates social and psychological pressure to respond to a concession with a concession of your own, driving negotiation movement.
Which of the following best describes a 'conditional concession' in negotiation?
Answer: A concession offered only if the other party makes a specific concession in return
Conditional concessions link movement to reciprocal action ('If you do X, I will do Y'), protecting value while still advancing negotiations.