Claiming Value in Negotiations Involves

question 19

Multiple Choice

Claiming value in negotiations involves

• A)cooperating to help both negotiators obtain the best possible outcomes.
• B)minimizing the time required to reach a settlement so that all parties can get back to doing productive work.
• C)reducing the costs associated with bargaining to maximize value.
• D)trying to obtain the best possible outcome for yourself and your constituents.
• E)trying to inflate positive aspects of what you are offering the other party.

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Definitions:

Prestige Pricing

A pricing strategy where prices are set higher than normal because the product or service is perceived to have a higher value or status symbol.

Odd Pricing

A pricing strategy that sets prices at odd numbers just below round numbers to make them appear smaller and more appealing to buyers.

Cost-Based Pricing

Formulas that calculate total costs per unit and then add markups to cover overhead costs and generate profits.