Funny Business Cards Determining what costs to present to Wal-Mart will determine success and failure and we are not just talking about the presentation. Suppliers will present cost based on the idea that the Wal-Mart will launch the item to all 3,600 U.S. stores at one time. When usually what happens is they buy much lower volumes for targeted stores, which they believe, will target the product's customer the best. The best way to address the unknown volume issue to present cost with volume breaks listed. This allows the buyer to see at what volumes the cost will go down and at what percent; it protects the supplier from discounting cost on volumes they anticipated but did not receive. It is also important to understand Wal-Mart's discounts and distribution expectations before committing to cost. If you do not have a good understanding of these expectations before your meeting at least note on the cost sheet that the costs are based on 0% discounts and FOB distribution. Dating the cost sheet can also be important if a large percent of your product is made of highly consumable materials; you don't want them to come back in six months expecting the same price when the material cost have sky rocketed.
When leaving print material and samples make sure everything is labeled with your company's name and your contact information. With buyer's hectic schedules, one business card handed to them at the beginning of the meeting is not enough. Follow up with an email; include all your contact information and a review of the meeting. Thank them for their time and professional input.
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