Useful English Expressions for PRICE NEGOTIATION - Bargaining | SHOPPING VOCABULARY

Summary

This video teaches essential English phrases for effective bargaining in business or daily transactions. Viewers will learn key expressions such as 'Would you sell it for...', 'It's out of our price range,' and 'I don't think we can go that low,' among others. The video also covers terms like 'rock bottom price,' 'meet halfway,' and 'match the price,' helping negotiators secure the best deals. Mastering these phrases through consistent practice can lead to successful business transactions and stronger relationships with clients and partners.

Takeaways

• 😀 Asking for a specific price: Use the phrase 'Would you sell it for [price]?' to politely propose your desired price in negotiations.
• 😀 When a price is too high: If the seller’s price exceeds your budget, let them know with expressions like 'It’s a bit out of our price range.'
• 😀 Gently rejecting a price: If a price is still too high, refuse politely with 'I don’t think we can go that low.'
• 😀 Negotiating for a better deal: Ask 'Is that the best you can do?' to encourage the seller to reconsider and offer a lower price.
• 😀 Coming to terms on the price: Once negotiations are nearly complete, say 'Let’s come to terms on the price' to finalize the deal.
• 😀 Understanding the rock bottom price: The term 'rock bottom price' refers to the lowest price a seller can offer, and it’s often used to indicate no further discounts.
• 😀 Meeting halfway: If the price gap is significant, suggest meeting halfway with 'Let’s meet halfway at [price].'
• 😀 Matching competitor prices: Bring up competitors' prices and ask the seller to match them to get a better deal, e.g., 'We can match the competitor’s price.'
• 😀 Negotiation is an art: Like any skill, effective bargaining requires consistent practice and learning to master.
• 😀 Communication is key: Using the right phrases at the right time in negotiations helps foster professional and respectful conversations, increasing your chances of success.

Q & A

What is the main goal of bargaining in business?

The main goal of bargaining in business is to negotiate the price of a product or service in a way that benefits both parties, potentially leading to larger orders, increased profits, or long-term business relationships.

What does the phrase 'Would you sell it for [price]?' signify in a negotiation?

'Would you sell it for [price]?' is a polite and professional way for a buyer to ask the seller to lower the price of a product to a specific amount.

When should you use the phrase 'It’s a bit out of our price range'?

This phrase is used when the offered price is either too high or too low compared to the buyer’s price range, signaling that the deal may not be possible unless the price changes.

What does the phrase 'I don’t think we can go that low' mean in a negotiation?

'I don’t think we can go that low' is a polite way for the seller to refuse a buyer's request to lower the price further, indicating that the proposed price is not acceptable.

Why would a buyer ask 'Is that the best you can do?' during a negotiation?

A buyer asks 'Is that the best you can do?' when they believe the seller could offer a better price, and they want to push for a lower price or a better deal.

What does it mean to 'come to terms on the price'?

To 'come to terms on the price' means that both parties have agreed on the final price after negotiation, and they are ready to proceed with the deal.

What is a 'rock bottom price' in a business negotiation?

A 'rock bottom price' refers to the lowest price the seller is willing to accept, often indicating that no further discounts will be offered.

What does it mean to 'meet halfway' in a negotiation?

To 'meet halfway' means that both the buyer and seller agree to settle on a price that is between their initial offers, compromising to find a mutually acceptable price.

Why might a seller say 'We can match our competitor’s price' during negotiations?

A seller may offer to match their competitor’s price to remain competitive and secure the sale, ensuring the buyer is getting the best deal available.

What is the key to mastering negotiation, according to the script?

The key to mastering negotiation is consistent practice and continual learning. Knowing the right phrases is important, but being able to confidently use them in real situations is what makes a successful negotiator.