Negotiating with Retailers

Description

Negotiating with Retailers — Negotiation Training

Negotiation is a core competence for retailers. They do it all the time, buying millions of dollars’ worth of merchandise for their businesses and the expertise they build rubs off on their colleagues in other functions such as IT and Finance. Many technology companies send their account managers to negotiate with retailers and then find out the hard way, just how good retailers are at this core skill. The net result is that vendors often leave margin on the table that could have been theirs to keep.

Who Is It Suitable For?

The course is designed for everyone selling or marketing products to the retail industry as well as those new to the retail industry.  The following will benefit:

• Consumer Goods companies selling to retailers
• Vendors selling and marketing to retail companies.
• Professional services teams working with retailers.

Course Objectives

By the end of this program learners will be able to:

• Describe the retail culture and mind-set with respect to negotiation
• Identify the pre-negotiation planning that will help them succeed and maintain control throughout the negotiation process
• Recognize the tactics retailers will use on them and help them interpret the tactics correctly
• Plan and deploy appropriate counter tactics
• And, as a result, conclude negotiations to create more of a win-win for both parties.

Detailed Content

The detailed content includes:

• Background to the retail culture including :

  Retailers’ experience of negotiations

  Dual vendor preferences

  Dangerous questions to answer which weaken your negotiating position

  How retailers purchase

  What constitutes a win-win scenario

  Mastery test

• Preparation for negotiation:

  Positioning for negotiation and what to look out for from the retailers

  What you should learn about them

  Yours and their strengths and weaknesses

  Your walk away position

  Your strategy and negotiating team

  Assumptions and the danger of making them

  Mastery test

• Buyer tactics:

  Intimidation

  Stepping up the pressure

  Raise objections

  Dutch auctions

  Unbundling

  Give me your best price

  Drive an early concession

  Gambits

  Switch gears

  Use the cash flow

  Mastery test

•  Your counters:

  Their real goals or objectives

  Your USPs

  Negotiating with the right people

  Your pricing

  Lower price? Take content away

  Lifecycle cost

  Dealing with objections

  Common objections and good responses

  Don’t get stressed – it’s what they want

  Concessions

  What concessions you can ask for and when to make them

  The power of silence

  How to signal you’ve been pushed too far

  Mastery test

• Common errors to avoid :

  Things you might say and how they get misinterpreted

  Share the risk

  Statements NOT to make

  Cost of technology over time

• Summary
• Mastery test
• Learners completing the mastery test and obtaining a 70% pass mark will also receive a mastery certificate upon completion.

Benefits of Studying This Program

Learners studying this program will improve their negotiation skills and achieve more profitable outcomes for their company and create a win-win situation with their customers.

Hours of Study

4 hours

Resources Included

The class includes the following downloadable resources for printing and review:

• Key performance indicators for the main retail segments

Pre-Requisites Necessary

Knowledge of the Introduction to Retail Financials class would be a benefit as would knowledge of the Key Performance Indicators for the retail segments of interest.

Video

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