Essay Objective: Design a marketing plan that will demonstrate entrepreneurial approaches to formulating product, price, promotion and distribution strategies and action programs.
Introduction: Customer Relationship Management (CRM) is used to manage a company’s interactions with current and future customers. Key Account Management (KAM) over and above selling products to high end customers also considers the customers strategic role in the growth of suppliers.
Deliverable: Written Assignment 2 to 3 pages exclusive of title and reference pages applying APA formatting
Activity Details
Perform the following steps:
Step 1: Introduction
Begin with an introductory paragraph that describes what Customer Relationship Management (CRM) and Key Account Management (KAM) are. Briefly describe the primary differences between CRM and KAM.
Follow-up with multi-paragraph response that compares and contrasts CRM and KAM.
Describes how a key account manager will use a CRM to improve performance and communication.
Step 2: Research and Content
Read the following overview materials about the results of a study that focuses on the best practices and strategies for key account management.
Ricards, K.A., & Jones, E. (2009). Key Account Management: Adding Elements of Account Fit to an Integrative Theoretical Framework. Journal of Personal Selling & Sales Management, 29(4), pp.305-310.
Describe the results of the study including best practices and strategies for Key Account Management. Consider and elaborate about the importance of relationship effectiveness as it relates to Key Account Management. Summarize what you have learned and describe how Customer Relationship Management (CRM) and Key Account Management relationships can impact the outside world.
Step 3: Conclusion Summary
For the conclusion paragraph explain why Customer Relationship Management (CRM) and Key Account Management (KAM) are different but also related. Synthesize what you have learned about CRM and KAM and their relationship importance in global economics.
