In the final part of this 3-part series, pricing and procurement expert Raymond Augustin demonstrates how stated price has tipped the scale towards sellers, creating an urgent need to return to a more symmetrical relationship between buyer and seller.
When the world was less standardized and more of an open market (say before 1861 when John Wanamaker introduced the price tag in Philadelphia), it was the norm for tradespeople to await the buyer’s first offer and then negotiate up. However, the subsequent swing towards an almost unified approach to stated price shifted negotiation power considerably over to the seller.
Should we be seeking a more balanced approach?
Author Raymond Augustin is a recognized thought leader, specializing in pricing strategy. He has an active interest in the research of the psychology of price and pricing motivations.