Key Account Management

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Parag Utekar, Student (MBA), India
Key accounts of an organization typically require a large, long-term commitment and the involvement of several specialized people due to their buying power and complexity. Delivery systems, terms and conditions involved in the purchase, product applications, and the vendor's products might be changed or developed from scratch for such major accounts. The selling cycle (also: sales cycle) often involves a period of months, or even years, and many expensive sales calls before (hopefully) a contract is signed and revenues are generated. Such effort means a considerable amount of opportunity cost for the vendor in the form of time and attention which can not be not allocated elsewhere. That's why not every current customer or a potential prospect can be treated as a "Key Account" and the selection of such accounts is a crucial decision for any selling company. Thus having clear account selection criteria is necessary to deploy efficient (key) account management tactics. Depending on the (...) Read more? Sign up for free

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  Ohstrom, Business Consultant, United States
 

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More on Sales Management
Summary
Forum
5Cs of Sales Management
🔥Virtual Selling Process Due to Internet and Covid
Key Account Management
Best Practices
🥇Sales versus Marketing
🥈Sales versus Business Development
🥉B2B Sales of New Products
How to Motivate the Sales Force?
Sales Strategies | Selling Strategies
7 Steps of the Selling Process
Sales Methods, Models and Theories
Approaches for Sales Pipeline Management / Sales Funnel Management
How to Align Sales Strategies with Corporate Revenue Targets?
How to Implement Strategic Account Management?
Integrating Sales and Marketing
Metrics for Tracking Sales Performance
Understanding the Buying Process in Major Accounts
Special Interest Group Leader

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