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Download Commercial Negotiation Exam Dumps
NEW QUESTION 43
There are no commitments in hypothetical questions. Is this statement true?
- A. Yes, because hypothetical questions generate a specific response
- B. No, because the party who makes hypothetical questions cannot withdraw their proposals
- C. No, because hypothetical questions are made explicitly to the other party
- D. Yes, because hypothetical questions only mention possible situations
Answer: D
Explanation:
Explanation
There are four types of questions that can be used in a commercial negotiation:
Hypothetical questions, where you ask about a possible situation or abstract concept, are very useful at the testing and proposal phases. Hypothetical question does not state any commitment as it is only about 'if something happens, then ...'. This type of question can be useful at giving suggestion.
Text Description automatically generated
LO 3, AC 3.3
NEW QUESTION 44
Economic growth can be measured by...?
- A. GDP
- B. The PPI
- C. SBLI
- D. The CPI
Answer: A
Explanation:
Gross Domestic Product (GDP) is the monetary value of the goods and services manufactured or supplied in a financial period. In general terms, when the GDP rate falls or slows down, there will be a fall in demand forgoods and services demanded in the economy, with a fall in firms' revenue and profit margins. When GDP is rising, there will be an increase in demand.
Consumer Price Index (CPI) is weighted measurement that evaluates the average cost of a basket of goods bought by a consumer.
Producer Price Index (PPI) is average changes in prices that a producer receives in return for its goods or services.
Small Business Lending Index (SBLI) is an indicator of small business lending trends.
NEW QUESTION 45
XYZ Ltd needs to purchase a bundle of IT products from suppliers. The procurement manager requests details of costs regarding designing and managing those products. After receiving reports from suppliers, she realises that they have charged up to a 1,095% mark-up on IT products. In order to ensure value for money, which of the following should be a priority pricing arrangement of the procurement manager in the negotiation with these IT suppliers?
- A. Cost plus arrangement
- B. Market skimming
- C. Market penetration pricing
- D. Premium pricing
Answer: A
Explanation:
In the scenario, the main cost driver is suppliers' mark-up. The priority should be limit the margin to be added.
XYZ Ltd can agree "cost plus"contracts with their suppliers to ensure no IT product purchased exceeds an agreed maximum margin level. Procurement teams can use their benchmarking tools to police these contracts.
Cost plus contracts are agreements where the contractor's pricing is based on itemising allowable costs and then adding an agreed margin.
Market penetration pricing - pricing low to win a large share of the market Market skimming - pricing a new product high in order to make a large profit from the purchases by initial customers. This is an effective strategy only in the absence of competition.When competition appears, market skimmers usually drop their prices Premium pricing - usually pricing high because the market is prepared to pay extra for the kudos associated with the product, thanks to, say, a reputation for quality, or a highly fashionable brand name, and so on
NEW QUESTION 46
Commercial negotiation ends at the award of a contract. Is this statement true?
- A. No, because real commercial negotiation begins after the contract is awarded
- B. Yes, because there are no rooms for negotiation after the contract is awarded
- C. No, because improvements can be achieved through post-award negotiation
- D. Yes, because the supplier will comply with legally binding obligations
Answer: C
Explanation:
Explanation
Negotiation doesn't end after the contract is awarded. The needs for negotiation can arise in anypost-award stages. For example, at supplier development and relationship management stage, improvement in supplier capability, capacity, and product/service range can be negotiated. Negotiations with long-term strategic critical suppliers should be carriedout in a partnering style, with a win-win starting point assumed.
In some sectors such as transport, utilities and infrastructure, tenderers may 'bid low' or even make a loss to win major contracts with a view to negotiating lucrative changes, variationsand 'add-ons' over the life of the contract when the supplier is bedded in and the buyer is in the weaker position to push back or challenge. Even in less complex contract, it is very likely that there will be a need to negotiate with that supplier again after the awarding of the contract.
LO 1, AC 1.1
NEW QUESTION 47
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