Negotiation Strategy in Market Research

"I have already used some of the suggested language in a negotiation. One of our clients demanded a 20% reduction or they would not proceed. After a short call, we are proceeding with zero reduction." Darren Flood, Adelphi Real World

This one-day intermediate level course equips delegates’ for the challenges of negotiating market research contracts - it also provides unique insight into how to work effectively with procurement. Negotiation Strategy in Market Research concentrates on effective negotiation, whether it be for a project, a cost estimate or an annual retainer fee.

You will be able to prepare for negotiations, understand the key techniques and be more confident at the negotiating table. If you want to secure the best value for your delivery and organisation, this course is essential.   

Run by arch negotiator David Meikle, Negotiation Strategy in Market Research lifts the lid on procurement practices and equips you with win-win tools to defend your profits and service delivery.

Who will benefit

Senior level staff responsible for the negotiation of significant, long-term client contracts, projects or cost estimates.

Course details:

• Key principles - setting out the common context and language for the breadth and depth of client business problems, their risk profiles, investment strategy and what they mean to clients’ business. Looking at the dynamics of the research/procurement/agency triangle.
• The right context - for fee, project and budget negotiations. The importance of understanding the commercial and personal interests of your client in research or procurement.
• Money - how successful research agencies make money. Looking at the difference between value-based pricing and value-based remuneration. The difference between time, effort and value.
• Understanding procurement - lifting the lid on what makes procurement tick and the knowing-doing gap between what they generally do and what they usually deliver for their companies.
• Commercial principles - Establishing a set of common principles for projects and fees in research. Looking at profit margin in fees vs profitability, how to defend and justify profits.
• Negotiation principles - What makes a ‘good’ negotiation? Why is a win-win result usually in the client’s best interests? How can we help them understand that?
• New business strategy - Understanding how negotiation power changes in the new business process and how to master it.

Level
Business