What follows are even more approaches that can win concessions in any negotiation involving a seller’s or merchant’s firm price continuing with the example of testing a department store price on a refrigerator.
19. Service Contract. A service contract for two years at a reduced rate was obtained. Also a guarantee of service in six hours or the service call would be free of charge.
20. Specification Close-Out. The salesman found a somewhat different model which was reduced because it had not sold well.
21. Time Pressure. After trying all week with no success to get the price below $1400, they returned just before 4:45pm on Saturday on the last day of the month. The salesperson made the deal before the store closed at 5:00pm and won the February “Store Salesperson” prize. The final price was $1200 with the ice maker thrown in for only $50 more.
22. Go to Jakarta. They found an item that was amazingly similar to what they wanted in Jakarta or Bangladesh.
23. Spare Parts. They arranged to buy future spare parts such as a compressor at today’s price schedule.
24. Special Options. Though they didn’t buy the ice maker today, they got an option to purchase it within a year at today’s price or at a wholesale price with installation thrown in.
25. Satisfaction Guaranteed. They obtained a guarantee that if they weren’t pleased, their money would be refunded.
26. Price Protection. They prevailed on the salesperson to include a clause stating that if the product went on sale within a month, they would be given the benefit of the lower price.
27. Price Guarantee. They obtained a guarantee that is a competitor sold the same model at a lower price the department store would meet the lower competitor price and provide an extra 10 percent bonus on the price difference.
28. Exchange Privilege. They reserved the right to exchange the product for full credit (or some reduced credit) for a period of time.
29. Concession. They asked for another 5 percent discount and copper color at no charge. They didn’t get the discount but did get the copper color free. The salesperson was anxious to get the bargaining over with and go home.
30. Another Store. The merchandise they wanted at the lower price was sold out in the Macy store in Westwood, so they asked the salesperson to see if any of the other Macy stores in California still had it in stock. One store did.
In the next post, we will conclude our discussion on tackling a firm price.