HCN is a wholesaler that supplies consumer goods products to a number of retailers. HCN has witnessed the worrying trend of its competitors losing out on suppliers who approach retailers directly. How

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Author’s Name Professor Course Due Date Strategies to Strengthen HCN As a retailer, you will always face competition from fellow retailers, and this is very normal and healthy. This contest should however not be a killer to your entrepreneurship but should force you to do the best. The competition also makes the business a more exciting game. However healthy it is, this competition earns a profit, and therefore it is essential for a retailer to pay attention to it and try to find ways of curbing it. These contests from other retailers come as a result of several reasons and should be dealt with accordingly. In this case, HCN as a retailer can use several strategies to improve its relationships with the manufacturers to avoid competitions from other retailers. Firstly, HCN has to improve its trust in the manufacturers. Trust between a retailer and a manufacturer means that they believe in each other’s reliability and value each other’s words. As a retailer, HCN is supposed to fully trust the fulfilled agreements with the manufacturer without always having to go back for more concessions or ask for more support. When both sides believe each other, they can share information and invest in understanding their businesses (Furrer 20-27). This aspect creates a mutual coexistence hence improving their business. Additionally, as a retailer, HCN has to improve its customer relationship. Losing customers for a retailer is a significant loss to it as well as the manufacturers. Therefore it’s essential for HCN as a retailer to work on first retaining its customers so as not lose them. There are several ways of improving customer relationships which include;