Countering a Low Offer
You can find this storyboard in the following articles and resources:
How to Prepare for a Negotiation
by Nathanael Okhuysen
This is our go-to negotiation guide with storyboards. Plan out your next negotiation with business tools like SWOT, Johari Window, BATNA, and more. Using storyboards in your preparation is useful to share your ideas with colleagues and fellow negotiators.
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Storyboard Description
A narration of the package deal NextWidget will offer to counter Fabricorp's anticipated low-ball offer
Storyboard Text
- Slide: 1
- THEIR LIKELY APPROACH
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- I anticipate Susan will take a hard approach in the negotiation.
- Slide: 2
- THE ANTICIPATED DIFFICULTY
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- She will probably try to establish an increased rate as an anchor point. She might justify this based on vague factors like "the economy" or "increased costs".
- Slide: 3
- COUNTER WITH A PACKAGE DEAL
- I need to respond with a very different deal to keep the negotiation from being a back-and-forth about a number.
- Slide: 4
- THE PACKAGE: 1 - LONG TERM
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- A two-year requirement contract
- Slide: 5
- THE PACKAGE: 2 - FAIR RATES
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- Peg the cost to the current rate, adjusting for average industry standard calculated by a prearranged reference or formula.
- Slide: 6
- THE PACKAGE: 3 - SECURITY AND OPPORTUNITY
- This protects us from unreasonable cost increases, but allows FabriCorp to pocket the difference if they outperform.
- Slide: 7
- THE PACKAGE: 4 - OUR ACCOMMODATION
- We can be a little flexible on fulfillment to accommodate slack production...
- Slide: 8
- THE PACKAGE: 5 - THEIR ACCOMODATION
- ...if they cover storage when there is excess. We know they probably have the warehouse space sitting idle to accommodate seasonal fluctuations.
- Slide: 0
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