Vocabulary and acronyms
Clase 2 de 26 • Curso para Ventas y Negocios en Inglés (2020)
This class will help you learn and understand some of the most common vocabulary and acronyms used in sales and negotiations. There are many more and more to come. Remember to take a look at the additional links we are leaving for you. I have carefully curated this list especially for you, based on my coaching and teaching experience and my experience as a salesperson as well. Look out for other expressions I will be using in class and try to find out what they mean. Check out when I use these new expressions throughout the course and learn more about how to use them.
VOCABULARY
Bargaining To negotiate the terms of a purchase, agreement, or contract not to create value but to claim value. Also haggling.
Blind Spot An opportunity missed or overlooked due to a lack of information, perspective, intellect, or emotional appeal.
Bluffing To pretend to be in a better position than one is.
Bottom line The underlying or ultimate criterion or reason.
Bundling Offering two or more products or services together, in a single package, at one price or for only a little more money.
Capitulate To accept terms and conditions you previously resisted or rejected.
Cherry Picking A tactic where the client selects the parts of an offer he likes and rejects the parts he does not.
Common Ground The terms mutually agreed upon by all parties in a negotiation.
Compromising To come to an agreement by mutual concession.
Concessions Something agreed to, that usually you do not like, but will help you reach an agreement or improve a situation.
Consensus Mutual agreement by all parties.
Counter proposal An alternative solution offered when you are not content with the original proposal.
Counter offer An offer made as a response by one who has rejected the original offer.
Deadlock A situation where you cannot move forward because the parties will not reach an agreement due to lack of compromise.
Distributed Negotiation When the interests of each party are in absolute conflict. If one gains, the other loses. Also called Zero-Sum Negotiation or Win-Lose Negotiation.
Hidden Agenda An interest or goal that you do not want the other party to find out about.
Highball To ask for a lot more than you think you will be offered.
Lowball To offer much less than you think is acceptable.
(Hot) Buttons The issues or ideas that generate a reaction on the other party, most likely, an emotional reaction.
Leverage An advantage that gives you power in a negotiation. Also, upper hand.
Position The set of conditions a party demands or is not willing to concede to.
Reservation Value The least favorable point for your negotiation.
Stakeholders All those who have an interest in the negotiation.
Stalling To request more time simply to avoid reaching an agreement or postpone a decision.
Stonewalling To show you are not open to other options to see if the other party compromises or yields.
ACRONYMS
BATNA Best Alternative to a Negotiated Agreement.
BPA Best Possible Agreement.
LAA Least Acceptable Agreement.
MDO Most Desired Outcome.
MEEP or MEEO Multiple Economically Equivalent Proposals / Off.
RFI Request for Information.ers.
RFP Request for Proposals.
RFQ Request for Quotation.
SWOT Strengths, Weaknesses, Opportunities and Threats assessment.
ZOPA Zone of Possible Agreement. The zone where the terms and conditions would make an agreement satisfactory to both parties.
You can follow these links to learn more sales and negotiation related vocabulary:
37 Useful Words and Phrases for Business Negotiations in English