After visiting their websites (Surprisingly, they have their own website), I decided to buy a table plant. I searched the Internet to try to find an approximate average price for table plants. I found that Amazon offers the cheapest price – around 30 dollar. The price from other online flower shop are much higher than 30, some are more than 70. Before leaving for my destination, I put 40 dollars cash in my pocket. B. What was your strategy going into the negotiation? Why? My planning strategy Is first to see if they have some table plant that I have seen fore, because I will feel more confident about negotiation on a familiar Item.
Then I will show the price on Amazon to them, because this will show them that I know how much this thing really value. The price on line is usually the lowest. Then I will show them I only have 40 dollars (maybe less than 40) and will walk away if they don’t offer this price. C. How/Where/When/Walt whom did your negotiation take place? On March 28 afternoon, I went to Alice Flowers. That was my flirts time to go there. When I entering the store,
She guided me to the place and I started looking for what I want (what I know). Then I found something like ivy and asked her how much it is. She told me it is 79. I was thinking about switching to something cheaper, but after looking around, I found that most of their table plants are more than 60. I told her that I went to other flower stores and their prices are much lower. The women started talking about the difference between her ivy and other’s. I heard she saying there are various types of ivy and her ivy is rare species. She also said that the lantern is made in metal and can be hung up using cords.
I started feeling that I can never get it with 40 dollars. Then I told her I do not have enough cash, how much is her minimum offer. She said 75. Then I did not talk any more and started looking seconds’ silence, she told me she can offer me 70 if I can bring her some other customer next time. I told her I wanted to think about it and then left the store. D. What was your asking price? Target Price? Reservation price? B. A. T. N. A? I did not tell her how much I could afford for the table plant, because I think it would e a little stupid to give a price that is only half of the original price.
My target price is less than 40. I will buy it as long as the price is less than 40. My reservation price is also 40 because I only have 40 dollars. My best alternative to a negotiated agreement is to not to buy it. Since I am not in desperate need of that table plant, it will be okay to me if no agreement is reached. Also, I think this is also the reason that why I did not negotiate further as well as that why I did not get what I want on a good price. E. What was the outcome of the negotiation? Describe the process.
The outcome of the negotiation is that I did not get the table plant for the price I want. The process is like what I described in the answer for question C. F. Specifically, in what ways were you satisfied/dissatisfied with the outcome? One thing I am feeling dissatisfied is that even I could not buy the puff ivy for 40 dollars. I should have negotiated further and see what would happen. Additionally, I am dissatisfied that I did not do as what I planned to (show the price on Amazon from mobile phone and show her I only have 40 dollars).
The feeling of embarrassment and the fear made me fail to be assertive enough during negotiation. One thing I am satisfied is that at least I negotiated instead of paying what the owner of the flower shop offer. From 79 to 70 is an accomplishment. G. Explain the things you did well in the negotiation. I think one thing I did well is that I kept silence after the owner of the flower shop giving an offer of 75. The silence made her think that I am still interested in buying the puff ivy, but not satisfied with the price. H.
Specifically, explain what you did during the negotiation that could use improvement. One improvement is that I could tell her how much I can afford (even though it is hard) and offer some benefit I can give her, like I could tell her I could bring my friends to her flower shop next time before she saying so. I should try to think about what I can do to satisfy her as exchange for her lower offer price. Mutual satisfaction is something I forgot during negotiation. Negotiation? First, I will choose something I really need or I really want as something I will agitate on.
Second, I will do more research before negotiation. Third, I will try to avoid feeling embarrassed or afraid when negotiating with others. (Though it is hard. And I think things will get better after several practices). J. Finally, what did you learn in this negotiation that could help you in your career? One thing I learn is that to think about the other’s benefit or satisfaction during negotiation. Whenever negotiation with any one, this rule should come to mind first. And I still need more practice to make myself get used to this.