TEL T 343 1nd Edition Lecture 16 Outline of Current Lecture I Media Negotiations II 5 Steps to Negotiation Process III Information Current Lecture I Media Negotiations a Most clients are long term i It is important to build lasting relationships b Product is perishable i Once today is over and inventory ad spots aren t sold the opportunity is gone II 5 Steps to Negotiation Process a 1 Approach the Process with Knowledge b 2 Preparation i Provide more information c 3 Maneuvering for Dominance Control i Maintain your control over the situation steer the conversation in the way you want it to go d Bargaining e Closing Getting Commitment III Information These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute a Information must be at the foundation of your approach b Information about your client i Remember Discovery is always ongoing c Information about your client s competition i You must have knowledge about what your client s competition is doing in order for you to position your offers in a way that helps your client beat their competitors p 216 d Information about your competitors i Just because you aren t bad mouthing your competition does not mean you not aware of what they are doing IV 10 Steps to Preparing for Negotiation a 1 Assess the Situation i Important to perceive balanced concerns ii Low vs high stake b V Objectives a Measurable b Attainable c Demanding d Consistent with Company Goals e Under YOUR Control f Deadline VI Leverage a Positive or Negative b Ways of improving leverage c BATNA i Best alternative to a negotiated agreement d Tit for Tat tactic i Repeat their demands
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