Anchor Point and Target Point in Negotiation

The video tutorial explains the importance of target and anchor points in negotiation. It discusses how to set target points by understanding interests and objectives, emphasizing the need for them to be specific, achievable, and verifiable. The tutorial also covers the role of anchor points, highlighting the advantage of having superior information. It concludes with strategies for managing the bargaining range to achieve a win-win agreement.

What is the primary goal of setting a target point in negotiation?

• To determine the reservation point

• To establish a starting offer

• To understand individual interests

• To achieve the greatest collective value

Why is it important for interests and objectives to be specific in negotiation?

• To ensure they are easily achievable

• To prevent wavering in negotiation goals

• To simplify the negotiation process

• To make them verifiable by the other party

What should you do if you have superior knowledge in a negotiation?

• Wait for the other party to make the first offer

• Set your anchor point

• Avoid setting an anchor point

• Focus on individual interests

What is the 'bargaining range' in a negotiation?

• The difference between the target and anchor points

• The initial offer and counteroffer

• The range between each party's anchor points

• The zone of potential agreement

What is the outcome if a negotiation falls within the zone of potential agreement?

• The negotiation is likely to fail

• A win-win agreement is reached

• The anchor point needs adjustment

• The target point is re-evaluated