Albert,sales representative of an FMCG company,is calling on one of the distributors.The distributor asks for a credit term of ninety days.Albert knows the maximum credit period offered by his company is 75 days although 50 days is the preferred norm.Without much effort,he convinces the distributor to agree to 75 days of credit.Albert is not bothered to attempt a lower credit term,although it is worth trying.Albert's inefficiency in bargaining can be attributed to ________.

Question

Quizplus · Accepted Answer

Albert's behavior of accepting the distributor's request for a credit term of 75 days instead of trying to negotiate for a lower credit term can be attributed to satisficing. Satisficing is the concept of accepting a satisfactory or good enough option instead of striving for the best possible outcome. In this scenario, Albert may have felt that 75 days was a satisfactory option for both parties, and he did not make an effort to negotiate for a better option.

Albert,sales Representative of an FMCG Company,is Calling on One of the Distributors.The