Example response for question delving into Negotiation Skills with the key points that need to be covered in an effective response. Customize this to your own experience with concrete examples and evidence

•  Background of the negotiation: Provide a brief overview of the situation and the parties involved in the negotiation
•  Challenges faced: Explain the specific difficulties or obstacles encountered during the negotiation
•  Strategies employed: Describe the strategies or tactics used to overcome the challenges and achieve a successful outcome
•  Negotiation process: Outline the steps taken during the negotiation process, including any key meetings or discussions
•  Key achievements: Highlight the positive outcomes or achievements resulting from the negotiation
•  Lessons learned: Discuss any valuable lessons or insights gained from the experience

  What the Interviewer is trying to find out about you and your experiences through this question

•  Problem-solving skills: Assessing my ability to handle challenging sales negotiations and find successful resolutions
•  Conflict management: Evaluating my capability to navigate difficult situations and maintain positive relationships with clients
•  Sales acumen: Determining my expertise in closing deals and achieving favorable outcomes in complex sales negotiations

  How to avoid some common minefields when answering this question in order to not raise any red flags

•  Lack of specific details: Avoid giving a vague or generic response without providing specific details about the negotiation
•  Negative attitude: Avoid speaking negatively about the other party involved in the negotiation or portraying yourself as overly aggressive or confrontational
•  Lack of ownership: Avoid not taking ownership of your role in the negotiation and not highlighting your contribution to the successful outcome
•  Inability to handle objections: Avoid not addressing any objections or challenges faced during the negotiation and not explaining how you overcame them
•  Lack of adaptability: Avoid not demonstrating your ability to adapt your approach or strategy during the negotiation to achieve a successful outcome

 Related

  Other questions asked for the Territory Sales Manager in Sales function. View details for the Territory Sales Manager here

• Tell me about your experience in sales.
• How do you approach building and maintaining relationships with clients?
• Can you describe a successful sales strategy you have implemented in the past?
• How do you handle objections from potential customers?
• What techniques do you use to identify new sales opportunities?
• Tell me about a time when you exceeded your sales targets.
• How do you stay motivated in a competitive sales environment?
• What CRM software have you used in the past?
• How do you handle rejection in sales?
• Tell me about a time when you had to resolve a conflict with a customer.
• What steps do you take to ensure accurate sales forecasting?
• How do you stay updated on industry trends and competitor activities?
• Can you describe a time when you had to work collaboratively with other departments to achieve sales goals?
• What strategies do you use to build and expand your sales pipeline?
• How do you handle customer complaints and ensure customer satisfaction?
• Tell me about a time when you had to meet tight deadlines in a sales project.
• What metrics do you use to measure your sales performance?
• How do you adapt your sales approach to different types of customers?
• How do you prioritize your sales activities and manage your time effectively?