Question

Define "Key account management" in context of the business-to-business market as defined by Workman, Homburg and Jenson

Answer 1

In the customer portfolio of a firm, there is a central core of customers. The supplier believes that if the exchanges with these customers are managed in a specific way , they can offer greater commercial efficiency. These are the customers the supplier designates as his firm's key accounts. To manage them in a specific way means a different form of management than that of usually used for his customers. More specifically ,this means the creation of a new mission (thus creation of new job, new practices .etc) and integrating it to existing structure. This mission involve co ordinating supplier information and action in time and space in relation to a customer in its entirety.