Pharos-Tribune

Breaking News

Business

August 29, 2013

Consumer Reports: Bargaining can reap big bucks

Hate to haggle? You're not alone. Consumer Reports' recent national survey found that just 48 percent of shoppers tried bargaining for a better deal on everyday goods and services in the past three years, down from 61 percent in 2007.

But if you're chicken, you lose. Eighty-nine percent of those who haggled were rewarded at least once. Successful furniture hagglers saved $300 on average, as did those who questioned a health-related charge. Those who challenged their cellphone plans saved $80.

Savvy negotiators know that politeness, friendliness and a smile are harder to resist than tough talk. "A my-way-or-the-highway approach limits you, because if you then reduce your demands, you run the risk of losing face," says Steven Cohen, president of Massachusetts-based Negotiation Skills, which teaches corporate clients how to sharpen their bargaining techniques. "Negotiation isn't a competitive sport."

Consumer Reports suggests these other tips for smart bargaining:

Assume everything is fair game. Retailers drop prices all the time and call it a sale. "It's not in the seller's best interest to charge one price to all customers," says Stephen Hoch, a marketing professor at the Wharton School of the University of Pennsylvania. "You charge different prices to different people based on their willingness to pay. As long as you sell something for more than your cost, you are making a profit."

Don't be intimidated by a title. Hoch says that many people are reluctant to confront doctors or lawyers. But Dr. John Santa, director of the Consumer Reports Health Ratings Center, says that almost everyone in health care — whether physicians, hospitals, labs or imaging departments — will eventually accept less if you dispute an out-of-pocket charge.

Be willing to bargain for big bucks. You can't win if you don't try. A 23-year-old college grad (he didn't want his name used) was accepted into several law schools and was offered generous scholarships by some. As his commitment deadline loomed, two of the schools increased their offers, but his first choice didn't. He approached the admissions officers of his top pick, told them that another school had upped the ante, and asked for more ($40,000 a year), knowing it would never agree to that amount. The school, which had initially offered $30,000, countered with $33,000, and they sealed the deal.

Text Only | Photo Reprints
Business
  • BIZ-PT041314 SecFed3.jpg From the inside out: Rebranding transforming Security Federal The rope barriers are gone from Security Federal Savings Bank's downtown offices. Lettering on the floor replaced them, advising bank customers to wait a few feet back from the bank tellers' desks. Each teller's station is flanked by wood panels that

    April 13, 2014 5 Photos

  • Women's boutique open along Eel River A girls' and women's accessories boutique recently opened near the west entrance to the River Bluff Trail in Logansport. Glam Girl Boutique owner Megan Ramirez said she's focusing on selling inexpensive women's accessories and girls' accessories and

    April 13, 2014

  • BIZ-PT041314 Haley Jasmantas.jpg Business news in brief, April 13 Carroll chamber has Business After Hours FLORA -- The Carroll County Chamber of Commerce will have a Business After Hours event from 5 to 7 p.m. Monday at the Sycamore Industrial Park located on Ind. 75 just south of Ind. 18 in Flora. Visitors may to

    April 13, 2014 1 Photo

  • ON THE JOB: Keeping a work-life balance Being a working mom with a full-time career sometimes has me in a rut. I have to really focus on balancing work, life, family and, of course, "me" time. This task is a lot harder than I thought it would be when I first became a mom. One of my favorit

    April 13, 2014

  • Landing Downtown: Volunteers key to beautifying city April 6 through 12 is National Volunteer Week, which is an opportunity for all of us to thank the volunteers who impact our lives every day in a number of ways, both large and small. I'm always baffled by people who say "oh, I'm not a volunteer." Rea

    April 6, 2014

  • Etherington Farms-Hogs 03 jss [Duplicate] Where will the farm bill take us? Robin Roberts farms 1,000 acres in Marshall County, and the past five years have been good ones financially. But Thursday, Roberts was contemplating the end of direct federal payments to farmers, and the impact it’s going to have on his Plymouth farm

    April 1, 2014 2 Photos

  • BIZ-PT033014 hurd H.jpg 4 generations, 1 business For Juanita Hurd, family time isn't just on weekends and holidays. It's every day. Hurd, one of the partners in Dibble and Hurd Tax Services in Logansport, works with her daughter, granddaughter and great-granddaughter for long hours each tax season.

    March 30, 2014 2 Photos

  • IDOR offers payment plan for taxes due INDIANAPOLIS -- More than 1.9 million Indiana taxpayers had filed their annual tax returns as of Thursday, according to a news release from the Indiana Department of Revenue. Individuals must file and pay before the individual income tax deadline on

    March 30, 2014

  • BIZ-PT033014 Janet Packard.jpg Business news in brief, March 30, 2014 Logan author publishes book Logansport author Christa Ashley Gorman recently published a collection of stories, "Awakening: A Catalog of Dreams," through Dorrance Publishing Co., Inc. "Awakening" is a collection of dreams. These dreams, each a short

    March 30, 2014 1 Photo

  • CLEDO CHAT: What goes into economic development? CLEDO has gone through a number of changes over the years, and more recently reorganized from LEDF (Logansport Cass Economic Development Foundation) to CLEDO (Cass Logansport Economic Development Organization), and within the past six months to CLEDO

    March 30, 2014

Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Poll

Should e-cigarette marketing be regulated like tobacco?

Yes
No
Unsure
     View Results
Featured Ads
AP Video
Raw: Royal Couple Visits Australia Mountains Raw: Pro-Russian Militants Killed on Base Captain of Sunken South Korean Ferry Apologizes Boston Bombing Survivors One Year Later Sister of Slain MIT Officer Reflects on Bombing Raw: Blast at Tennessee Ammunition Plant Kills 1 Hoax Bomb Raises Anxiety in Boston Egypt Clamps Down on Mosques to Control Message After Fukushima, Japan Eyes Solar Power New York Auto Show Highlights Latest in Car Tech Ex-California City Leader Gets 12 Year Sentence Disbanding Muslim Surveillance Draws Praise Hundreds Missing After South Korean Ferry Sinks Passengers Abuzz After Plane Hits Swarm of Bees Town, Victims Remember Texas Blast At Boston Marathon, a Chance to Finally Finish Are School Dress Codes Too Strict?
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.