Article Abstract:
Information gathering is critical to credit grantors, and this creates a need for a credit application form that is not only attractive but functional for the efficient control of retail credit procedures. JBS Services Corp. met the challenge of designing and administering a private label credit card program for 47th Street Photo, whose high-priced merchandise exceeds normal credit card limits. The form had to comply with all legal regulations, provide a copy for the applicant, incorporate a return envelope for convenience, be simple and usable, while covering all the needed data, and had to catch the attention of customers. The finished product is described and photographed for illustration. This credit program also includes an 'instant credit' option and a catalog version of the form.
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Article Abstract:
Retail credit grantors must ensure that their credit collection methods are consistent with and supportive of company objectives. The ability of grantors to track the activities, and consequently the outcome of the activities, of credit collectors is a vital element to the attainment of company objectives. A number of collectors' tasks need to be addressed in order to facilitate the achievement of declared goals. Among these tasks are the update of accounts, the safeguarding of acquisition expenditures to maximize the potential of all accounts as open-to-buy or borrow customers, and the minimization of potential losses through the prevention of future delinquencies.
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Article Abstract:
Cluster analysis is a statistical methodology that places emphasis on the spending and payment tendencies of individuals. One of the advantages of clustering is that it allows for the forecast of credit line acceptability. It also has the ability to group prospects in an objective manner by avoiding a ranking system of analysis. Such objectivity provides better flexibility and cost control for the marketers, who have the option of targeting as small or as large a prospect base as they desire. Enhancement of cluster analysis is dependent on the support provided by a comprehensive and continuously updated database.
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