What are the key areas of negotiation?

1. Discounts  Trade discount, quantity discount, cash discounts. Objective: Increase and improve the overall department margin. 2. Staff Support  Manpower / Promoters for in-store operations and additional events. Objective: Have sufficient knowledgeable personnel to provide product advice to customers while reducing the operating expenses of the store. 3. Advertising Allowances  Budget which the retailer can utilise for advertising purposes and claim from the vendor. Objective: Increase the overall advertising budget of department. 4. Exclusivity  Attractive product range, promotional mechanics, or selling prices which can only be found in one retailer’s store(s). Objective: Increase competitive advantage of retailer.

Why are managing vendor relationships important?

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