This episode of 'Master Negotiators' features discussions with negotiation experts Michel Poitras, who has over three decades of experience in high-stakes international deals, and Tony Perzow, a renowned international keynote speaker and negotiation trainer with clients including Apple and Red Bull. The discussion delves into price negotiation strategies, the importance of preparation, common negotiation errors, and the psychology behind negotiating both in a sales context and in daily life. The conversation also covers practical advice on how to approach negotiations, the concept of anchoring and its impact on negotiation outcomes, and ends with role play scenarios demonstrating negotiation tactics in various challenging situations. SCENARIOS 25:27 Scenario 1: Negotiating with No Alternatives 29:58 Scenario 2: Securing Fair Prices in Urgency 33:42 Scenario 3: Renegotiating After a Steep Increase 39:14 Scenario 4: Maintaining Profit on Bulk Purchases GUESTS https://www.linkedin.com/in/tonyperzow/ https://www.linkedin.com/in/michel-poitras-2aa53ba/ ABOUT Master Negotiators features seasoned negotiators role-playing common negotiation scenarios. Our negotiation experts provide concrete advice on a range of topics, from managing everyday conflicts to mastering complex business negotiations. This series is recorded as part of the Master Negotiators Live weekly stream, hosted by J.N. Reyt, an associate professor of management at McGill University. FULL UNEDITED STREAM https://youtube.com/live/kM4LBYBnAsI LINKS Web: https://masternegotiators.live LinkedIn: https://www.linkedin.com/in/jnreyt Youtube: https://youtube.com/@jnreyt Facebook: https://www.facebook.com/jnreyt Twitter/X: https://twitter.com/jnreyt TIMESTAMPS 01:03 Diving Into Today's Topic: Price Negotiation 01:25 Can All Prices Be Negotiated? Insights and Strategies 04:17 Common Mistakes in Price Negotiation and How to Avoid Them 11:27 The Power of Anchoring in Negotiations 17:49 Navigating Deadlocks and Understanding When to Walk Away 20:37 Preparation: The Key to Successful Negotiation 25:27 Scenario 1: Negotiating with No Alternatives 29:58 Scenario 2: Securing Fair Prices in Urgency 33:42 Scenario 3: Renegotiating After a Steep Increase 39:14 Scenario 4: Maintaining Profit on Bulk Purchases --- Send in a voice message: https://podcasters.spotify.com/pod/show/jnreyt/message