What are common tactics employed in negotiation?

Anchoring, framing, and making concessions are widely recognized tactics in negotiation due to their strategic effectiveness.

Anchoring occurs when one party sets a reference point around which the negotiation will revolve. For instance, if a buyer makes an initial offer that is considerably lower than the expected price, that figure serves as an anchor, affecting the counteroffers that follow. This tactic can shape the perceptions and expectations of both parties regarding what constitutes a reasonable deal.

Framing involves presenting information in a way that influences how it is perceived. By framing an offer in a positive light or highlighting certain aspects, a negotiator can steer the discussion toward outcomes that favor their position. This tactic relies heavily on the psychology of perception, making the way information is presented crucial for influencing decisions.

Making concessions is another key tactic, as it allows negotiators to demonstrate willingness to compromise, which can facilitate a more collaborative atmosphere. By giving something up, even if it is small, a negotiator can encourage reciprocal concessions from the other party, ultimately leading toward a more satisfactory overall agreement.

These tactics are effective because they leverage psychological principles that influence decision-making, creating a more favorable negotiation environment.