Chapter 025 Anchoring Effects vs Sunk Costs
When Hou Yiqian saw Hou Yao being easily sent away, he laughed dryly and said, "It doesn't matter Xiao Song, let's order the dishes first, and talk about your patent while serving."
Song Tao happily agreed: "Thank you, Uncle Hou."
Hou Yiqian was also generous and ordered food while asking about Song Tao's taste. The dishes were both the names and prices, which opened Song Tao's eyes. The price of this meal was enough for his meal costs for several months.
What impressed Song Tao the most was that a plate of cucumber dipping sauce costs 98 yuan. After hearing this, he felt pain: "Fortunately, I didn't pay the money. Those who didn't know thought the sauce was made of gold and could be sold so expensive."
Hou Yiqian ordered a lot of food, and it took at least half an hour to get it. So Hou Yiqian and Song Tao began to learn about patent licensing.
"Xiao Song, the lighting system you designed is very exquisite, so we hope you exclusively license the patent to us Tanyi Company."
"I'll just talk about the price." Hou Yiqian said openly: "After rigorously, our company's rigorous discussion, it was decided to make a quotation of 500,000. What do you think?"
When Song Tao heard this, he felt a little moved. The money was astronomical for him, but he was not surprised because he felt that the offer was not the most ideal.
After pondering for a while, Song Tao used his right hand to make a gesture of eight: "Uncle Hou, since you are so frank, I will just say it straightforwardly that my offer is 800,000."
Hou Yiqian smiled, took out a document from his briefcase and handed it to Song Tao: "Xiao Song, this has the patent licensing fees for companies across the country. I think you can make a reference."
After taking it, Song Tao carefully read it. Hou Yiqian provided a patent sale plan similar to microscope modification or lighting system design. The plan, data and sales price are very detailed and convincing.
Hou Yiqian suddenly took out so much data and reference materials, and obviously came prepared.
Most people often think that whoever quotes first will suffer. In fact, that is just an amateur idea. At the real negotiating table, only by successfully using the "anchor effect" can you gain the initiative in bidding.
The anchoring effect is an extremely important psychological phenomenon, which means that strong first impressions often lead to preconceptions, which gradually make a person's subsequent judgments approach the first impression, even if the first impression is completely wrong.
Hou Yiqian first offered 500,000 yuan, and then used some real data to prove that his quotation was reasonable, just to create a deep first impression of "my patent value is indeed 500,000 yuan."
However, in fact, 500,000 is just the lowest price. The data given by Hou Yiqian has been carefully selected, with the purpose of gradually misleading Song Tao and finally killing him at the price of 500,000.
As expected, Song Tao gradually frowned after reading this volume of data. The sales price of these plans is generally less than 500,000. According to the information provided by Hou Yiqian, 500,000 is indeed a credible quotation.
Hou Yiqian smiled and said, "Xiao Song, the 500,000 yuan is quite reasonable. Considering that you are Hou Yao's roommate, we will definitely give you the most ideal price."
Song Tao thought to himself: "No, there must be a problem."
Song Tao also understood some anchor price theory. He could clearly feel that Hou Yiqian wanted to drag his thoughts. Under Hou Yiqian's gradual guidance, he even began to think that the price of his patent was indeed only worth 500,000.
Although Song Tao wanted to refute, he could not find a reason for a while. He was just an ordinary student and could not collect detailed data like Hou Yiqian in a hurry, guiding Hou Yiqian to set the price at 800,000.
Thinking of this, Song Tao understood that he could not get too entangled in the current quotation, which was very unfavorable to him.
So he thought about it and suddenly said, "Uncle Hou, we won't talk about the price."
"What? If we don't talk about the price, what will we talk about?" Hou Yiqian was stunned. He thought that Song Tao would definitely accept the offer of 500,000 under his guidance, but Song Tao suddenly said something amazing.
Song Tao spread his palms and showed five fingers.
Hou Yiqian looked at Song Tao's gesture and said in surprise: "Fifty...5 million?"
Song Tao saw Hou Yiqian's stunned look and smiled, shook his head and denied: "This is the ratio. I hope that for every microscope you sell with the lighting system I developed, you will pay the patent usage fee at a rate of 0.5% of the sales."
Ratio usage fees are also a type of patent authorization. They do not require a one-time payment of the patent usage fee. Instead, one item is sold for each product that uses the patent, just like paying the fee at a certain ratio.
Song Tao originally did not want to sell the patent in this way, but seeing that the price was stuck at 500,000 yuan by Hou Yiqian, Song Tao could only use a proportional charge, so the information prepared by Hou Yiqian would no longer have reference value.
Hou Yiqian quickly realized that he had a simple calculation in his mind. According to the ratio of 0.5% and based on the current sales estimate, he would have to pay Song Tao between 300,000 and 800,000 to 800,000 during the 20-year patent protection period, which would be acceptable.
When Song Tao saw that Hou Yiqian had the possibility of agreeing, he quickly struck while the iron was hot: "Uncle Hou, if you have this plan, if the sales volume is not ideal, the fee you pay me will be less, which is equivalent to taking part of your operating risks."
"In addition, you can calculate it. Take XTL165 as an example. I only charge a patent fee of 15 yuan for a price of 3,000 yuan. This cost is nothing."
Although Song Tao strengthened the rationality of the 0.5% ratio, Hou Yiqian still hesitated because if the company adopted a new lighting system, the cost he had to pay Song Tao might be more than 500,000.
This situation was expected, and Song Tao thought to himself: "It seems that we need to talk to him with sunk costs."
The so-called sunk cost refers to costs that have occurred in the past but have nothing to do with current decisions, including time, money, energy, etc.
During negotiations, you can constantly hint to the other party that "if the transaction fails, then all the efforts and costs you have paid for it will be wasted." The higher the other party's sunk cost, the greater the probability of accepting your own conditions.
Thinking of this, Song Tao already had a scheming in his mind.
So when the negotiations were deadlocked, Song Tao suddenly said suddenly: "Uncle Hou, please rest assured that no matter whether the transaction between us can be negotiated, I will not hinder your transaction with the quality inspection station."
This sounded very kind, but Hou Yiqian's mouth suddenly twitched when he heard it. The red wine that had just entered his throat almost choked him because of his bad breath.
There are three words, and it is wonderful to say cleverly.
Song Tao could have said just now: No matter whether our transaction is completed or not, your transaction with the quality inspection station will not be affected.
But what he said was: No matter whether the transaction between us is completed or not, I will not hinder your transaction with the quality inspection station.
Song Tao's statement emphasized his importance in the transaction between Hou Yiqian and the quality inspection station. The implication is that he is fully capable of letting Hou Yiqian and the quality inspection station go was wasted, but on the surface he assured Hou Yiqian that he would not do so.
In fact, Song Tao did not do such a thing.
First of all, Hou Yiqian is the father of his good friend. Secondly, as the deputy leader of the Microscope Precious Color Bao Group, his original intention of designing this lighting system is to help the Microscope improve work evaluation and promote the transaction between Tan Yi Company and the quality inspection station.
But it doesn't matter what he really thinks. The key is what Hou Yiqian can hear.
Sure enough, Hou Yiqian slowly placed the wine glass on the table with a serious expression.
If someone with a big nerve came, he might not be too careful about Song Tao's words, and would not fall into this trap. But Hou Yiqian's thoughts were so delicate that he immediately thought: "This kid would not be hinting at canceling the transaction between me and the quality inspection station, right?"
If the deputy team leader of an ordinary quality inspection station hinted that he could hinder his transactions with the quality inspection station, Hou Yiqian would never believe it, and would even sneer.
But Song Tao is different. Hou Yiqian recalled that Song Tao asked the intern in charge to summon Hou Yao away with a text message, and then he knew that the young man in front of him did have this kind of energy.
Huachang Dida’s usual partners are the top instrument factories at home and abroad. Although Hou Yiqian’s Tanyi company ranks among the top in Huguang Province, it is still quite different from those top instrument companies.
If Tanyi Company completes this transaction, it can get the name of a cooperative supplier for Huachangdi Quality Inspection Center. This is definitely a golden signboard and will have a miraculous effect on the company's business expansion.
If you can't get Song Tao's patent authorization, you can't cooperate with Huachangdi Quality Inspection Station.
If the negotiations with Song Tao fail, all previous plans for the quality inspection station negotiations will be vain. This is the sunken cost that Tan Yi Company may pay.
Hou Yiqian now wants to ask whether Song Tao is threatening him, but Song Tao's words are full of kindness on the surface. If he asks rashly, he will definitely lose his elders' demeanor. This sense of contradiction is blocked for a while and he can't speak.
Hou Yiqian sighed in his heart: "This Song Tao is so young and so smart, and he underestimated him before."
In fact, the patent licensing fee of 500,000 is just a big deal for Hou Yiqian. He is so meticulous only because of the instinct of a businessman. Moreover, he has experienced countless protracted business negotiations, and this time he is still in the field of small-scale fights with Song Tao.
However, Song Tao's intelligence and agility have far exceeded Hou Yiqian's imagination. Hou Yiqian knew that this extremely small negotiation would inevitably leave a deep impression on him.
Just as Hou Yiqian was still pondering, the marketing department manager on the side couldn't sit still: "Director Hou, I think the conditions proposed by Deputy Team Leader Song are still very reasonable, and the ratio of 0.5% is acceptable."
The marketing manager has been working hard to reach cooperation with the authoritative appraisal center. Now he has finally cooperated with a quality inspection station of Huachang Dida. He doesn't want to let this matter fail.
Chapter completed!