Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Price Too High? Budget Tight? Negotiate for a Better Deal

27.09.2011
According to the Federal Reserve, economic growth remains slow and signs point to continuing weakness.

Unemployment rates remain elevated, and household spending has been increasing at only a modest pace. While this may affect your household budgeting, it could also work in your favor. Charles Lankau, a business professor and expert in negotiation at Wake Forest University, says in this economy, consumers should be assertive when shopping for just about everything.

These days retailers and service providers are willing to negotiate to get your business, says Lankau. “As a consumer in today’s economy, people need to ask themselves, ‘Am I about to spend some money?’ If the answer is ‘yes,’ negotiating is almost always appropriate. Price, terms, perks or extras—most of the time they are there if you just ask.”

For those new to bargaining, Lankau offers the following tips:

Give yourself permission to negotiate. Bargaining is one of many valuable budget-stretching tools available. Use it.

Focus on the result, not on any misplaced embarrassment for asking. Think of how good it will feel if you get something for your efforts. Even if you are successful, it’s a win-win situation. In most cases, the seller will still be making a profit.

Touch a chord. Choose your words carefully to reach the emotional side of the person you are dealing with, for example: ‘I’m just not sure I can afford this. Can you do any better?’ Practice different approaches in the car to see how they sound.

Practice. Just like in sales, keep trying, and your ‘ask’ will improve.

Track your results. Keep a note card in your glove box and jot down every time you purchase an item for less than the asking price. It adds up! Seeing your savings grow is a great motivator.

Lankau says large purchases, like cars and homes, or competitive services for television or telephone, are expenses where people expect to negotiate, but deals can also be found in retail shops. “My mother never hesitated to point out a flaw, if there was one, in a blouse or sweater, and she almost always received at least a ten percent discount.”

Kim McGrath | Newswise Science News
Further information:
http://www.wfu.edu

More articles from Business and Finance:

nachricht How Strong Brands Translate into Money
15.11.2016 | Kühne Logistics University - Wissenschaftliche Hochschule für Logistik und Unternehmensführung

nachricht Demographic change depresses tax revenues
04.11.2016 | Fraunhofer-Institut für Angewandte Informationstechnik FIT

All articles from Business and Finance >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Significantly more productivity in USP lasers

In recent years, lasers with ultrashort pulses (USP) down to the femtosecond range have become established on an industrial scale. They could advance some applications with the much-lauded “cold ablation” – if that meant they would then achieve more throughput. A new generation of process engineering that will address this issue in particular will be discussed at the “4th UKP Workshop – Ultrafast Laser Technology” in April 2017.

Even back in the 1990s, scientists were comparing materials processing with nanosecond, picosecond and femtosesecond pulses. The result was surprising:...

Im Focus: Shape matters when light meets atom

Mapping the interaction of a single atom with a single photon may inform design of quantum devices

Have you ever wondered how you see the world? Vision is about photons of light, which are packets of energy, interacting with the atoms or molecules in what...

Im Focus: Novel silicon etching technique crafts 3-D gradient refractive index micro-optics

A multi-institutional research collaboration has created a novel approach for fabricating three-dimensional micro-optics through the shape-defined formation of porous silicon (PSi), with broad impacts in integrated optoelectronics, imaging, and photovoltaics.

Working with colleagues at Stanford and The Dow Chemical Company, researchers at the University of Illinois at Urbana-Champaign fabricated 3-D birefringent...

Im Focus: Quantum Particles Form Droplets

In experiments with magnetic atoms conducted at extremely low temperatures, scientists have demonstrated a unique phase of matter: The atoms form a new type of quantum liquid or quantum droplet state. These so called quantum droplets may preserve their form in absence of external confinement because of quantum effects. The joint team of experimental physicists from Innsbruck and theoretical physicists from Hannover report on their findings in the journal Physical Review X.

“Our Quantum droplets are in the gas phase but they still drop like a rock,” explains experimental physicist Francesca Ferlaino when talking about the...

Im Focus: MADMAX: Max Planck Institute for Physics takes up axion research

The Max Planck Institute for Physics (MPP) is opening up a new research field. A workshop from November 21 - 22, 2016 will mark the start of activities for an innovative axion experiment. Axions are still only purely hypothetical particles. Their detection could solve two fundamental problems in particle physics: What dark matter consists of and why it has not yet been possible to directly observe a CP violation for the strong interaction.

The “MADMAX” project is the MPP’s commitment to axion research. Axions are so far only a theoretical prediction and are difficult to detect: on the one hand,...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

ICTM Conference 2017: Production technology for turbomachine manufacturing of the future

16.11.2016 | Event News

Innovation Day Laser Technology – Laser Additive Manufacturing

01.11.2016 | Event News

#IC2S2: When Social Science meets Computer Science - GESIS will host the IC2S2 conference 2017

14.10.2016 | Event News

 
Latest News

NTU scientists build new ultrasound device using 3-D printing technology

07.12.2016 | Health and Medicine

The balancing act: An enzyme that links endocytosis to membrane recycling

07.12.2016 | Life Sciences

How to turn white fat brown

07.12.2016 | Health and Medicine

VideoLinks
B2B-VideoLinks
More VideoLinks >>>