Step 3: Currencies/Options
Each side must consider their needs and those of the other side. From the Seller’s side, based on what they know about the Buyer, they might ask, “What currencies might we offer to meet the Buyer’s needs?” The Seller might consider:
Priority status in system development so that the Buyer can meet their aggressive timetable.
24-hour responsiveness to technical problems.
Technical support during peak periods.
Network administrator training.
From the Buyer’s side, based on what they know about the Seller, they might ask, “What currencies might we offer to meet the Seller’s needs? The Buyer might consider:
Being a reference for other noncompetitive customers.
Serving as a demonstration site.
Allowing release of information about the new Spectrum system after the winter catalog is issued.
Analysis of Step 3
In the planning phase, we have just scratched the surface of available currencies. In the dialog that would occur in the actual negotiation session, the parties might uncover a number of currencies and options to meet their needs.
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