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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