Retail trade plays a significant role in the economy of any state. In business, a relationship between the company and the consumer is formed and both sides have their own certain benefits they wish to acquire from this relationship. For the company the main goals are to increase the turnover and gain profit, however, for the consumer aims may vary. In order to attain their goals, being the increased turnover and incoming profit, the companies can use different tools to stimulate the consumer's choice of the product. Sales promotion is exactly what ensures the opportunity for the retailer to attract customers and motivates that particular choice of the purchase, what furthermore ensures competitive advantages over other competitors. The globalization of the market also affects the retailing companies more and more and, therefore, pushes them to find new solutions to ensure their competitiveness and development. To identify the factors that guarantee the competitiveness, the authors have established the research of price discounts as a tool for sales promotion and its effect upon the activity of the retail companies as their research focus. Furthermore, the authors will research the form of sales promotion-theoretical basis of usage of price discounts as a part of marketing communication. Moreover, they will also analyse tendencies of development of retail trade in Latvia, as well as, clarify the consumers' attitudes towards the price discounts and the impact of them on making purchases at retail outlets in Latvia by conducting a consumer survey. This research will offer an understanding about the impact of commodity price rebates on consumer behaviour and point to the specificities of this process in retail to the retail companies. From the scientific point of view in this work the authors have collected the analysed theoretical aspects and have defined a united approach for building up the discount policy for retail businesses. As a result of the research, the authors conclude that by examining consumer attitudes towards the commodity price discounts and their use, companies can manage this process and perhaps it may become one of their tools for maintaining competitiveness.

Prices are one of key economic indicators and tools for influencing economic processes. In Latvian market, the sensitivity of price continues increasing determined by the variable and unpredictable tax system, as well as the effects of the reforms being implemented. Still, for the establishment of competitive prices stable economic environment is needed. Therefore the evaluation of the price-setting specifics gains utmost importance. By evaluation price-setting and identifying existing regularities, by developing methodological approach to targeted price-setting management process, it is possible to promote the implementation of the competitive advantages of price-setting. Latvian market is characterized by changing prices with a strong upward trend. Though the scientific literature increasingly accentuates the science-based price-setting, Latvian enterprises have little experience in this field and this important and complex process is given undeservedly little attention.

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Abstract. In a globalized world characterized by strong competition in various business areas, companies need to be able to find a competitive edge. Small and medium-sized enterprises, which are the backbone of the economy, must be able to compete with large companies that are technologically and financially more secure. It is therefore essential to be flexible, to look for new approaches and use different tools to promote development and competitiveness. A quality management system can be such a tool. Within the framework of this research, the role of the quality management system in ensuring successful operations and competitiveness of small and medium enterprises will be evaluated. Purpose of the methodology is to evaluate and develop four main spheres of organization: recourse management, document management, determination of management competence, efficiency and improvement management. Implementation of quality management systems or methodologies reduces corporate costs and ensures competitive operation.