BATNAs are a fundamental concept in negotiation. Tell me a little bit about what you've learned so far -- What is a BATNA? Why is it important? How does a BATNA impact your negotiation approach (distributive or integrative) as well as your outcomes?

Please use some (not all) key terms:

• Starting point- for a seller, it is the initial asking price; for the buyer, it is theirinitial offer.
• Target point- is the preferred/optimal price (the price you hope to get as a seller and pay for as a buyer); also known as your aspiration point
• Resistance point (aka: reservation point, walkaway point)- this is your bottom-line price; the boundary you won't cross. For a buyer, it is the most you will pay. For a seller, it is the least amount you will accept.
• Zone of potential agreement (ZOPA)- is the difference between the buyer's and seller's resistance points
• Positive bargaining range- when the buyer's resistance point is above the seller's resistance point there is room to reach an agreement
• Negative bargaining range- when the seller's resistance point is above the buyer's resistance point, there is no room to negotiate
• Settlement point- the point at which an agreement is reached!