According to the author, power is what you think it is. If people think they have power, they will even if they don't. Alternatively, if people don't think that they have power, they won't even if they do. There are several sources of power that a seller has that will strengthen their negotiation capabilities.

One source of power is that which your competition gives you. It is important to recognize that competition can work for you and that buyers do have limits. Buyers will not consider using a competitor because of a product not being reliable, of a dislike for the organization, or of the price of the product. A second power that a seller has is the power of commitment. You will have power in the negotiation process if you are committed to what you are selling and use the commitment of others. The commitment to your organization demonstrates your

Buyers have numerous tactics to which they implement to weaken the seller's position. When negotiating a sale, the buyer digs up all the negative points or weak points about the product to convince the seller that his product is not the best. This is done by demonstrating to the seller that his product is not the only product on the market and by telling the seller that his product is not worth the cost. One tactic a buyer uses to get what they want is referred to as the "bogey". In this scenario, the buyer compliments the product and indicates that this is the product they were looking for, but then the buyer poses a problem or dilemma to the seller. After the seller receives an ego boost, his reaction is one of wanting to solve the problem and to make the sale work. The seller then tries to consider options and typically, considers lowering his profit margin.

Although buyers with the intent to force the seller to lower a price or meet other needs use tactics, these tactics are still negotiable. The seller's job is to recognize the tactics of the buyer. When a seller recognizes a buyer's tactic, he may not want to bend to the buyer's demands. This does not end the negotiation process, as the seller will implement countermeasure to deal with the buyer's tactics. This is possible because throughout the negotiation process, the needs of the buyer and seller are always changing. A buyer is typically solely concentrating on the price in a negotiation and when the price is not negotiable, the seller may satisfy the needs of the buyer by offering other need fulfilling incentives to the buyer and therefore, the buyer is willing to pay the price. Making the customer believe as though they got a bargain is one way in which the needs of the buyer can be met.

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Successful Deals, power seller, negotiation process, power negotiation, seller product, sources power, buyer seller, sources power seller, power seller power, risks power, client business, seller power, tactic buyer,
Approximate Word count = 1197
Approximate Pages = 5 (250 words per page double spaced)