Is it me or is there a new generation of people who think replicating the “BBC Apprentice” style of negotiating is a good way to approach business?!
If you’re looking to purchase a product that you have not procured previously (ideally) you should do some research on the product, price and marketplace before embarking on the purchase process.
In principle, this sounds very basic. However, recently I have experienced buyers looking to purchase large numbers of reconditioned IBCs in an urgent situation, who had no idea what an IBC was and they certainly had no understanding of the reconditioned IBC marketplace and the price points.
In addition to this, they also approached the pricing conversation with a ” 50% off request”. I understand the concept of “do not accept the first price”, albeit this in itself is not applicable in all purchasing situations. To expect discounts of over 50% especially if you do not understand the product or the marketplace is not just naïve, it’s also unprofessional.
This new style of “must not accept the first price” and “must source high discounts and continue to haggle hard” might make for good programme viewing on the BBC but it doesn’t work in day-to-day business, particularly if looking to purchase limited availability products in high volumes.
Business negotiations should be based on two-way information, good communication and rapport. The people on both sides of the purchasing discussion should listen and understand each other’s issues, points of view and guidance. This ensures all negotiations are professional and courteous.
What are your thoughts and experiences of this?