Gain or Loss? Mastering the Art of Framing in Negotiation
This podcast episode explores the negotiation tactic of framing, which involves strategically presenting information to influence the other party's perception and guide them towards a decision that benefits you. The podcast host, Philip, discusses this technique with Keenan, a former law student and participant in Philip's negotiation workshops.
Here's what listeners will gain from this podcast:
- Understanding different framing approaches: The episode distinguishes between positive framing, which highlights the gains of accepting a proposal, and negative framing, which emphasises the potential losses of not accepting it.
- Learning about loss aversion: The podcast explains the psychological principle of loss aversion, where people are more motivated to avoid losses than to achieve gains, making negative framing a potentially powerful tactic.
- Practical application through examples: Keenan shares examples from negotiation competitions where he successfully used framing, illustrating how to apply this tactic in real-world scenarios.
- Emphasis on practice: Both Philip and Keenan underscore the importance of practicing negotiation skills, highlighting that it helps identify effective tactics and builds confidence. The Negotiation Club is mentioned as a platform for individuals to safely practice and refine these skills.
By listening to this podcast, individuals can gain a deeper understanding of framing as a negotiation tactic, learn how to apply it effectively, and recognise the importance of practice in honing negotiation skills.