Monday, December 10, 2012

Selling to the Vendors


Selling to vendors is different from selling to general public customers. Vendors usually do not pay any attention to the presentation of products but are more concerned about the cost, quality and selling potential of products.

Listed below are some measures which will help you in your business of selling to the vendors:

Attend Trade Shows and Exhibitions
You should attend all trade shows and exhibitions in your area and also try to visit important events at the national and international level. Such events provide you with a chance of meeting with the vendors concerned with your business. The vendors are always trying to find new products and suppliers and thus you will have an opportunity to present your products, their salient features, pricing, shipment details, etc. You are able to find some new buyers of your products at these trade shows.


Offer Incentives
The vendors who are ready to start buying your products should be given some incentives. Some discount or incentive should be provided for starting new business and after a few months when sales figures have increased and the relationship with the vendor is established, you can offer further incentives. With these incentives the vendors will be able to increase his margin of profits and the consumers of his products will benefit from reduced prices. This will increase his sales and subsequently you will gain more profits.

Offer Better Products
Provide the vendors with comparisons of their existing products with your products and demonstrate the differences between the quality, cost, and other beneficial features of your products. If you offer similar or better products at little lower or comparable rates, the vendors will be more inclined to buy from you.

Provide Preferential Treatment
The vendors who are buying your products regularly and in large numbers should be preferred over others by offering discounted rates. They should also be given exclusive rights for some new products which the other vendors are not able to sell. These measures will result in more profits for the vendors and you will develop close business relations with them.


Offer No Risk Deal to the Vendor
You can offer your products to the vendors with no upfront payment. According to the deal the products will be displayed and sold, the payment is only made when the product sells and you will remove those products which are not being sold without any cost or expenses for the vendor. This sort of arrangement benefits the vendor with no risk of any monetary loss.

1 comment:

  1. Many companies these days are relying on vendors to perform various services that they used to perform themselves in the past. When the company depends on vendors, they must engage in vendor risk management. The first step of this risk management is a vendor risk assessment for each potential vendor.

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