现代企业财务信用管理讲义 .pptxVIP

Chapter Outline29.1 Terms of the Sale29.2 The Decision to Grant Credit: Risk and Information 29.3 Optimal Credit Policy29.4 Credit Analysis29.5 Collection Policy29.6 How to Finance Trade Credit29.7 Summary ConclusionsIntroductionA firm’s credit policy is composed of:Terms of the saleCredit analysisCollection policyThis chapter discusses each of the components of credit policy that makes up the decision to grant credit.TimeCash collectionAccounts receivableThe Cash Flows of Granting CreditCredit sale is madeCustomer mails checkFirm deposits checkBank credits firm’s account29.1 Terms of the SaleThe terms of sale of composed ofCredit PeriodCash DiscountsCredit InstrumentsCredit PeriodCredit periods vary across industries.Generally a firm must consider three factors in setting a credit period:The probability that the customer will not pay.The size of the account.The extent to which goods are perishable.Lengthening the credit period generally increases salesCash DiscountsOften part of the terms of sale.Tradeoff between the size of the discount and the increased speed and rate of collection of receivables.An example would be “3/10 net 30”The customer can take a 3% discount if he pays within 10 days.In any event, he must pay within 30 days.1he Interest Rate Implicit in 3/10 net 30A firm offering credit terms of 3/10 net 30 is essentially offering their customers a 20-day loan.To see this, consider a firm that makes a $1,000 sale on day 0Some customers will pay on day 10 and take the discount.Other customers will pay on day 30 and forgo the discount.9、我们的市场行为主要的导向因素，第一个是市场需求的导向，第二个是技术进步的导向，第三大导向是竞争对手的行为导向。10、市场销售中最重要的字就是“问”。11、现今，每个人都在谈论着创意，坦白讲，我害怕我们会假创意之名犯下一切过失。12、在购买时，你可以用任何语言；但在销售时，你必须使用购买者的语言。13、He who seize the right moment, is the right man.谁把握机遇，谁就心想事成。14、市场营销观念：目标市场，顾客需求，协调市场营销，通过满足消费者需求来创造利润。15、我就像一个厨师，喜欢品尝食物。如果不好吃，我就不要它。16、我总是站在顾客的角度看待即将推出的产品或服务，因为我就是顾客。17、利人为利已的根基，市场营销上老是为自己着想，而不顾及到他人，他人也不会顾及你。-$1,000+he Interest Rate Implicit in 3/