REAL L4M5 EXAM QUESTIONS & L4M5 VALID EXAM BOOK

Real L4M5 Exam Questions & L4M5 Valid Exam Book

Real L4M5 Exam Questions & L4M5 Valid Exam Book

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Tags: Real L4M5 Exam Questions, L4M5 Valid Exam Book, Visual L4M5 Cert Exam, L4M5 Upgrade Dumps, Valid L4M5 Dumps Demo

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In the Commercial Negotiation (L4M5) Web-based Practice Test, you will get the L4M5 questions that are real and accurate. Furthermore, the L4M5 practice exam works smoothly on all operating systems including Mac, Linux, IOS, Android, and Windows. it is a browser-based Commercial Negotiation (L4M5) practice test software, there is no need for any specific software installation or additional plugins to function correctly.

CIPS Commercial Negotiation Sample Questions (Q147-Q152):

NEW QUESTION # 147
Premium pricing strategies used by suppliers are characterised by which of the following? Select TWO that apply.

  • A. Price is based on cost structures
  • B. This strategy is often used when supplier attempts to enter new market
  • C. Premium price is determined by variable costs only
  • D. Products are charged at a price based on supplier's reputation
  • E. Typically found in the early part of the product life cycle

Answer: D,E

Explanation:
There are several pricing strategies used by suppliers:
Cost-plus pricing - Total variable + Fixed cost + profit
Premium pricing - based on branding. Supplier determines to charge a very high price, notconnected with cost structures, usually based on its reputation and/or the perception that the product/service is of a superior quality. This strategy typically found in the early part of the product life cycle/when demand exceeds supply.
Penetration pricing - Supplier attempts to enter a new market or extend its share in an established one. It is characterised by price reductions to increase volume, followed by steady price increases; may even be loss leading at start (no profit made) Marginal cost pricing - covers only variable cost Market pricing - suppliers prices in line with what the market is willing to pay


NEW QUESTION # 148
A procurement professional is preparing for a negotiation with supplier. She is setting targets for price which her company is seeking to achieve. Which of the following acronyms can help her identify limits before engaging in the negotiation?

  • A. TIMWOOD
  • B. MIL
  • C. RAQSCI
  • D. PPCA

Answer: B

Explanation:
:
MIL criteria indicate 3 limits that negotiator should establish:
M - Must achieve: minimum target/maximum you can concede on this point; the mandatory requirement or fall back position I - Intend to achieve: realistic target you are aiming for on this point L - Like to achieve: stretch target to achieve on this point.
PPCA is purchase cost analysis
TIMWOOD indicates 7 types of waste in Lean principles
The RAQSCI model is a mnemonic summary of a business model used to define and structure business requirements


NEW QUESTION # 149
IHL has beensupplying to XYZ Ltd for months. XYZ Ltd procurement manager Diana realises that the IHL's input prices are dropping and this is a good time to re-negotiate the price of the contract. She invites IHL representative to XYZ headquarter to make a bargain on the current price. At the opening stage of the negotiation, Diana requests a 10% reduction in price with an increase in volume purchased.
Is Diana's action appropriate in the opening phase?

  • A. No, because Diana has put the markers down too soon
  • B. Yes, because Diana's proposal is a fair trade for both parties
  • C. Yes, because the negotiation should be done as quick as possible
  • D. No, because Diana should state exactly the increasing quantity

Answer: A

Explanation:
The opening stage of the negotiation coversthe very first few minutes when the parties meet and greet each other and are seated in the negotiation room in preparation for the main event.
Typical behaviours at the opening stage: 'dos' and 'don'ts'
Do's
Be punctual and well presented (welcome theirarrival)
Break the ice with small talks
Start the conditioning process
Check authority
Check agenda
Consider using visual aid to set out key objectives or make key points
Don'ts
Use strong, pushy, cold or tough style at the opening
Put down marker at thisstage
Criticise other organisations/TOP's previous contacts/third parties.
In this scenario, Diana has made her proposal right at the opening stage. This is an example of 'don'ts'. Good negotiators are very careful about 'red lines'. If she puts such barrier up too early, the supplier may not try to look for more creative solutions later in the negotiation.


NEW QUESTION # 150
Which of the following types of questions are likely to be the most effective to check facts in negotiations?

  • A. Open
  • B. Leading
  • C. Hypothetical
  • D. Closed

Answer: D

Explanation:
Closed questions are useful for verifying facts, as they prompt specific, concise responses. These questions allow the negotiator to confirm details without ambiguity, which is crucial for clarity in negotiation settings, as highlighted in CIPS's guidelines on questioning techniques.


NEW QUESTION # 151
Are tactical ploys only used in distributive approach?

  • A. No, because tactical ploys strengthen the other party's position
  • B. Yes, because tactical ploys will help to gain insights into the other party's interests
  • C. No, because tactical ploys will be more effective with integrative approach
  • D. Yes, because they will be irritants to long-term relationship

Answer: D

Explanation:
:
There are many tactics and ploys that can be used to persuade others, particularly those not trained in negotiation. But in general these tactics should be used with care, as they can backfire; and in situations where a long-term relationship is desired, they can be, if detected, become an irritant to TOP.
Tactics are particularly effective if and when you are dealing with untrained negotiators, in consumer's buying situation and in once-off encounter.


NEW QUESTION # 152
......

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