Which practice establishes a long-term relationship between retailers and suppliers for mutual benefits?

Establishing a long-term relationship between retailers and suppliers for mutual benefits is best achieved through vendor partnerships. This practice emphasizes collaboration and communication, allowing both parties to work together closely to enhance product offerings, streamline distribution, and improve overall efficiency. By establishing strong ties, retailers and suppliers can share insights about consumer behavior, sales trends, and inventory management, ultimately leading to increased sales and profitability.

Vendor partnerships often include agreements on pricing, promotional strategies, and exclusive offerings, ensuring that both sides are invested in each other's success. This collaborative approach contrasts with more transactional relationships where suppliers might only focus on selling products without an ongoing commitment to the retailer's success.

Other options, such as cooperative advertising, market segmentation, and micromerchandising, do not inherently focus on building a long-term relationship with mutual benefits. Cooperative advertising typically involves cost-sharing for marketing efforts but does not necessarily imply a long-term commitment. Market segmentation is about identifying and targeting specific consumer groups, while micromerchandising focuses on tailoring products to meet local customer needs. While these practices can support retailer-supplier relationships, they do not fundamentally establish the enduring collaborative framework that vendor partnerships do.