Deck 5: Closing Deals: Persuading the Other Party to Say Yes

Question 1

Successfully closing a deal or settling a dispute requires you to convince the other party why or how your proposal satisfies your interests.

Answer 1

False

Question 2

Negotiating parties who are more concerned about the risk of change than they are about the risk of failing to change are being influenced by:

A)Too many alternatives.
B)Fear of losing face.
C)The default bias.
D)Status quo bias.

Answer 2

D

Question 3

Pointing out that the other party will incur costs if he or she takes time to think over the deal is an effective way to prevent losing the deal.

Answer 3

True

Question 4

The best closing tactics:

A)Involve "closing early and often."
B)Avoid giving the other party a push.
C)Avoid backing off.
D)Avoid alienating the other party.

Question 5

Drawing diagrams and providing word pictures that demonstrate the positive outcomes that the other party will realize are especially effective methods for overcoming which of the following objections?

A)It does not work for me.
B)I need more time.
C)It is too expensive.
D)Too much information too fast.

Question 6

Requiring a short deadline for the other party's review of a complex proposal will typically work in your favor.

Question 7

Understanding and overcoming objections and persuading the other party to say yes is most effective when done:

A)During the initial stage of the negotiation.
B)During the final stage of the negotiation.
C)Throughout the negotiation.
D)When you are closing the deal.

Question 8

"You can put 20 percent down and get a 7 percent interest rate or put 30 percent down and get a 6.75 percent interest rate" is an example of which of the following closing tactics?

A)Cost-benefit.
B)Comparison.
C)Multiple equivalent options.
D)Sweetener.

Question 9

Emphasizing to the other party how much the party will save relative to the party's costs is an example of:

A)Compromise.
B)A sweetener.
C)Framing.
D)Splitting the difference.

Question 10

"If you accept the transfer,you will not only get a raise,but you will also get a promotion and an added week of vacation." This is most likely an example of appealing to the other party's:

A)Position.
B)Emotions.
C)Interests.
D)Options.

Question 11

If your opening offer for a car is $15,000 and the dealer starts the price at $20,000,and you agree on $17,500 without either party making any other concessions,the dealer and you have used which of the following closing tactics?

A)Compromise.
B)Comparison.
C)Balance sheet.
D)Default option.

Question 12

How you close the deal is related to how successfully the terms of your agreement are implemented.

Question 13

Which of the following is not a typical cause of a party's reluctance to agree to the offer?

A)Insufficient involvement in developing the solution.
B)Loss of face.
C)Your offer does not solve their problem or satisfy all of their interests.
D)The solution appears too easy.

Question 14

Closing the negotiation begins:

A)During your preparation for the negotiation.
B)After both parties discuss their issues.
C)After both parties discuss their positions.
D)After both parties agree on the solution.

Question 15

"If we do not receive your signed mortgage application and application fee by 5 p.m.today,the interest rate will increase by a quarter of a percent." This is an example of:

A)An assumptive question.
B)A multiple alternative offer.
C)An open-ended question.
D)An exploding offer.

Question 16

Exploding offers and sequential questions not are advisable to use if:

A)The other party refuses to budge from his or her offer.
B)You want to preserve or build the relationship between parties.
C)The other party objects to your offer.
D)You want to appear to be "selling" your offer.

Question 17

The sequential questions closing tactic involves:

A)Responding to the other party's objections with questions.
B)Asking a series of questions,all of which are designed to elicit a "yes" from the other party.
C)Beginning with an easy question and designing subsequent questions to be progressively more difficult.
D)Beginning with a difficult question and designing subsequent questions to be easier.

Question 18

Inviting the other side for constructive criticism of your proposals as you develop them is a good tactic for overcoming the other party's objections to your proposals.

Question 19

Which of the following is an example of a default option?

A)"Check this box if you do not want to receive our weekly email newsletter."
B)"Once you have had a chance to get used to your new sound system,we will return to adjust the settings to your liking."
C)"Will you take the red dress or the blue one?"
D)"I will agree to your job offer,provided I get a signing bonus."

Question 20

Proposals that did not involve the other party's input are more likely to be:

A)Accepted.
B)Rejected.
C)Implemented.
D)Negotiated.

Question 21

Describe how to overcome objections that stem from unmet interests.

Question 22

Offering to compromise is an example of a closing tactic.

Question 23

It is not always necessary to use closing tactics.

Question 24

Using closed-ended questions is recommended once negotiators reach the closing stage.

Question 25

Explain what it means to view objections objectively,how it affects the way you respond to the other party and why it improves your ability to negotiate effectively.

Question 26

Splitting the difference between the last two offers is an even split only if the opening offers were equidistant from a theoretically correct settlement point,and if the concessions that both parties make are equal.

Question 27

Reframing your offer is an effective way to overcome objections.

Question 28

Describe several ways in which you can demonstrate to the other party that you care about satisfying his or her needs.