Marketing Essay Example | Topics and Well Written Essays - 1500 words - 7

Marketing - Essay Example In other words, these accounts must be identified, acquired, and followed up, or managed. The sales person/force and manager must also be rewarded accordingly. Key accounts are gained by developing a mutual relationship. In order to gain trust and repeat business and to â€Å"lead† the client and not the other way around (having the client lead the sales representative which results in a loss of sales), one must completely know and understand the client’s business. This can only be accomplished by having a strategy. Key Account Management (2006) lists the benefits of this type of handling such important accounts: Regarding the case study of Glaztex, the reasons for failure to win the order were many. They did not employ the strategies of proper key account management. Dr. Leblanc of Commercial SA had initially contacted sales executive John Goodman. That was an incredible â€Å"foot in the door† where Goodman should have researched and prepared before returning the call. Perhaps he did not have the proper training on key account management, which is very crucial. Most company training involves teaching staff how to sell to corporations and to large accounts which uses a skill-based training. On the other hand, key account management deals with the clients’ needs and uses strategy. (Bandhu, 2004.) Capon (2006) states that, â€Å"†¦it is one thing to recognize that these accounts should be treated differently, it is quite another to figure out exactly what to do.† So training is necessary. Goodman simply described the simply and gave Leblanc literature to read. As Leblanc had stated that he had already spoken with three other companies, Goodman needed to be well informed of not only what his company had to offer, he also needed to know about his possible client and the competitors. He needed to focus on value. An advantage would have been for him to tell and show Leblanc (and Atois, the production engineer, as he stated that