The role of credit strategy in creating competitive advantage

Article Abstract:

An important element of the marketing mix, and a method for creating competitive advantage, is the provision of credit to customers. The credit terms of sellers affect buyers' supplier selection decisions. Companies that compete in broad markets should implement a cross-segment flexible credit strategy to concentrate on different markets with alternative needs-based combinations of credit and price generosity. Companies focusing on specific market segments should identify customer credit sensitivities and offer matching credit plans. Although export credit is a key factor in creating competitive advantage, credit applications should be carefully examined before acceptance.

Competition (Economics), Economic aspects, Export credit

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Questions You Should Answer Before You Sell on Credit

Article Abstract:

Guidelines for handling credit sales are detailed. A larger volume of business is one benefit; however, costs of operations go up accordingly. Judging credit worthiness depends on character, capability, and capacity. In addition, circumstances, collateral, and coverage are sometimes considered. Use of credit checking agencies is recommended. The characteristics of poor credit risks are outlined.

Standards

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Surprise errors can delay a loan decision

Article Abstract:

Lending agencies often evaluate business owners' personal credit reports as indicators of character and ability to repay. Before applying for a loan, business owners are advised to check their credit reports from the three major credit-reporting companies.

Finance, Personal finance, Businesswomen, Businessmen

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