Final Answer:
The target point is the point at which a negotiator would like to conclude negotiations. Therefore the correct option is 4.
Step-by-step explanation:
In negotiation, the target point refers to the desired endpoint or outcome a negotiator aims to achieve during the negotiation process. It represents the point at which the negotiator ideally wants to conclude the negotiations. This target point often encapsulates the best possible outcome or the most favorable terms the negotiator hopes to attain. It serves as a reference or goal guiding the negotiation strategy and actions throughout the process.
The target point is not specifically tied to the negotiator's bottom line, initial price set by the seller, or the first offer quoted. Instead, it embodies the ultimate objective for the negotiator, reflecting the ideal conclusion or agreement they aspire to reach. This target point can be influenced by various factors such as objectives, priorities, alternatives, and the context of the negotiation. It guides the negotiator's approach, tactics, and concessions made during the negotiation process to steer the discussions towards achieving the desired endpoint.
Throughout negotiations, the target point may evolve based on new information, concessions from the other party, or changes in circumstances. It serves as a reference against which the negotiator evaluates proposals and concessions, aiming to navigate the discussions towards a favorable agreement. Ultimately, achieving the target point signifies a successful negotiation outcome aligned with the negotiator's goals and aspirations. Therefore the correct option is 4.