StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Customer portfolio and Strategic Account Management 04255 - Essay Example

Cite this document
Summary
The evolution of global business market has changed the way a firm runs its business operations and its approach towards creating value for the customers. The business strategies have evolved from a product centric approach to a more customer centric approach, where the sellers…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.9% of users find it useful
Customer portfolio and Strategic Account Management 04255
Read Text Preview

Extract of sample "Customer portfolio and Strategic Account Management 04255"

Download file to see previous pages

This paper is focused on the concept of customer portfolio and its relevance to the strategic account management. Storbacka (2012) mentioned that the concept of strategic account management is based on the “co-creation of value”. The term strategic accounts or the key accounts indicate to the most valuable customers of the company (Ford et al, 2003). The process of value generation lies in the centre of the corporate goals that allows the firms to deeply focus on understanding the customers’ value creating process and how the firm’s strategies are responsible for it.

Homburg et al (2002) opined that the value generation through strategic account management program involves a long list of activities including product development, pricing, distribution, offering services along with manufacturing and sales. The integrated effect of these factors yields value for the customers, which creates a long term relationship between them and the firms. Piercy and Lane (2006) argued that there are significant levels of risks involved with the implementation of the strategic account management process.

There must be a proper alignment of the internal organizational activities and the organizational goals. To put it simply Guesalaga and Johnston (2010) described that the organisational activities of different departments must be holistically aligned to the goals and objectives related to the customer value generation. Sherman et al (2003) proposed that the strategic account management should be viewed as a process of conducting business and not simple a selling process. The concept of inter-organizational alignment suggests that the organizations should increase its overall understanding of the business concerns of the customers and creating value proposition through a “joint venture”.

Eid and Trueman (2002) have mentioned that the strategic or key accounts management has

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Customer portfolio and Strategic Account Management 04255 Essay”, n.d.)
Customer portfolio and Strategic Account Management 04255 Essay. Retrieved from https://studentshare.org/management/1695668-customer-portfolio-and-strategic-account-management-04255
(Customer Portfolio and Strategic Account Management 04255 Essay)
Customer Portfolio and Strategic Account Management 04255 Essay. https://studentshare.org/management/1695668-customer-portfolio-and-strategic-account-management-04255.
“Customer Portfolio and Strategic Account Management 04255 Essay”, n.d. https://studentshare.org/management/1695668-customer-portfolio-and-strategic-account-management-04255.
  • Cited: 0 times

CHECK THESE SAMPLES OF Customer portfolio and Strategic Account Management 04255

Management Programme for the Parcelforce Worldwide

To come up with the new ways of managing customer relationship, it is good to critically look at the management of the organisation and how it has been offering its services in the past.... Thus it is important for the management to use new communication strategies for the services offered.... This made the organisation to lose its popularity as many customers were disappointed and thus ran to the rival companies (Business management General, 2008)....
10 Pages (2500 words) Essay

Strategic Management: customer support

In the research paper “Strategic management: customer support” the author analyzes good customer support services.... The operational management and the Human Resource (HR) departments have a bigger role to play in the development of the respective companies.... In any marketing sector marketing plan is considered to be very important and a thoughtful business plan cannot be overemphasizes because much hinges on it: financial support, management of the available resources like operation and finances, credit from suppliers, promotion and marketing and last but not the least company's goals and achievements....
3 Pages (750 words) Essay

Key Account Management

This is where Key account management or KAM is most useful.... This essay emphasizes the Role of Key account management, as a tool and process that equips a company in acquiring and retaining large customer revenue fosters symbiotic mutually profitable and sustainable business relations resulting to a "win-win" situation.... In his article Key account management Strategy, Jay Dwivedi said that "Salespeople learn only the hard way that many big companies really give them the business that they deserve based on the effort that they put in....
6 Pages (1500 words) Case Study

Financial and Strategic Analysis Vodafone Group Plc

We should also take into account that even when the financial results present a very positive aspect of a company's financial performance, it is sometimes an issue of temporary conditions and in any case that one would proceed to the investment in a particular company, he should take into account that there is always the risk involved.... Most specifically, the company currently operates in approximately 60 countries in the… The company has managed to enter the foreign markets through a series of successful joint ventures and takeovers trying to keep the customer base of the companies acquired....
21 Pages (5250 words) Essay

MDCM, Strategic IT Portfolio Management

This case study "MDCM, Strategic IT Portfolio management" evaluates the IT projects suitable for the company and presents recommendations for the MDCM Corporate Board.... T was neglected by the management of the company and also wrong investment decisions were taken related to IT due to which, IT suffered a lot and became a reason for giving loss to the company (Jeffery & Norton 2).... The audit also resulted in some positive outputs such as the customer relationship management (CRM) system and computer-assisted design (CAD) system in branches of MDCM working successfully....
5 Pages (1250 words) Case Study

Finance - Stocks, Yields, and Portfolios

(MTSN) and Advanced management Strategies Group (AMSG).... Advanced management Strategies Group majors in logistics, program management, business consulting, engineering support, product lifecycle management (PLM), PLM IT tools, and IT services management....
5 Pages (1250 words) Essay

Ration Class of Fastenal Company

The main management ratios return on equity, return on assets and the inventory turnover.... The author of the present case study "Ration Class of Fastenal Company" mentions that Fastenal Company is a company that is publicly traded in the stock market.... It manufactures and distributes building and construction materials and supplies....
4 Pages (1000 words) Case Study

MDCM, Inc: Strategic IT Portfolio Management

This case study "MDCM, Inc: Strategic IT Portfolio management" presents IT department, Shawn Atkins, the Chief Financial Officer (CIO), and Max McMullen, the Chief Executive Officer (CEO) many options that were explored to repair the problems associated with the current state of the IT department.... The website will allow a customer to leave an email message, and to contact the company if necessary....
5 Pages (1250 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us