Recommendations

After thorough procedures and analysis of data, the following recommendations are hereby
made to develop and improve the research problem:

1. Vendors should find and work with trusted supplier and build sturdy relationship with them. A
good supplier-vendor relationship means having a solid communication. Suppliers are good
sources of information like today’s market demand, helping vendors to evaluate which product
to sell. Having a long relationship with a supplier can turn them into a partner, helping vendors
to cut cost which means an opportunity to have a much higher profit.
2. There is a need for vendors to track and account their expenses to understand how they are
managing their money. Many vendors are having a mistake not to record their expenses. In the
end, they do not know if they’re still getting profit or not. If vendors do not track their expenses,
they can’t make necessary changes to lessen the total cost.
3. Holiday and rainy seasons means a high probability of changes in prices. Suppliers determine
their pricing by how much the customers are willing to pay, in short, cost depends on market’s
demand. Vendors and customers should always be ready.
4. Customers should always negotiate with vendors. Haggle as much as they can or buy products in
bulks so vendors will have a reason to give discounts.
5. Vendors should know and understand their competitors. They should monitor on how they do
business, the products and services they provide, the prices they charge, how they treat their
customers, etc. Knowing their competitors can give vendors advantages and ideas on how they
will make their business distinctive to beat others.
6. It is mandatory for everyone to obey the law. Vendors should always adhere to the Department
of Trade and Industry’s suggested retail price on products. They also should never fail to file
business permits and pay for taxes on time to avoid legal charges.
7. Vendors and customers should always be prepared on drastic changes in our market such as
inflation as it will have an impact in cost of doing business and cost of living. If inflation is high,
costs from supplier will be high so vendors should regularly update their selling price. Customers
should always check their expenses if it still fits in their budget