Account manager
Encyclopedia
An account manager is a person in a business
who is responsible for the management of the sales
and relationship with particular customer
s. They are usually allocated particular customer accounts, especially key accounts that provide the most business.
teams and sales teams within a company. The goal is to maintain the company's existing relationship with a client or group of clients, so that they will continue using the company for business.
The account manager also tries to identify potential new clients and business opportunities and to persuade new customers to place business with the company.
Account managers are responsible for working with clients to identify their needs and work out how the company can best meet those requirements, in order that the client does not decide to place business elsewhere.
Depending on the size of the company, account managers might manage a single account or they may have a whole portfolio
of clients. An account manager might have responsibility for an account at national level or at global level. Global account managers and national account managers may work together in a hierarchical or matrix structure. The trend is to move responsibility for the major key accounts to the global level.
, coordination, strategic planning
, relationship management, negotiation, leadership and innovative development of opportunities.
keeping record of transaction of sale and purchase goods
and Japan
and corrected the fundamental flaws. De Blick synthesized the adaptations into the 4S-model, which is at present the dominant key account classification model.
Business
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...
who is responsible for the management of the sales
Sales
A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity....
and relationship with particular customer
Customer
A customer is usually used to refer to a current or potential buyer or user of the products of an individual or organization, called the supplier, seller, or vendor. This is typically through purchasing or renting goods or services...
s. They are usually allocated particular customer accounts, especially key accounts that provide the most business.
Responsibilities
The responsibilities of an account manager vary depending on the nature of the business. The account manager builds client relationship by acting as the interface between the customer serviceCustomer service
Customer service is the provision of service to customers before, during and after a purchase.According to Turban et al. , “Customer service is a series of activities designed to enhance the level of customer satisfaction – that is, the feeling that a product or service has met the customer...
teams and sales teams within a company. The goal is to maintain the company's existing relationship with a client or group of clients, so that they will continue using the company for business.
The account manager also tries to identify potential new clients and business opportunities and to persuade new customers to place business with the company.
Account managers are responsible for working with clients to identify their needs and work out how the company can best meet those requirements, in order that the client does not decide to place business elsewhere.
Depending on the size of the company, account managers might manage a single account or they may have a whole portfolio
Portfolio
Portfolio literally means "a case for carrying loose papers," ....
of clients. An account manager might have responsibility for an account at national level or at global level. Global account managers and national account managers may work together in a hierarchical or matrix structure. The trend is to move responsibility for the major key accounts to the global level.
Key account manager
Key account management includes sales but also includes planning and managing the full relationship between a business and its most important customers. An account manager who works in this role will engage in a variety of tasks including project managementProject management
Project management is the discipline of planning, organizing, securing, and managing resources to achieve specific goals. A project is a temporary endeavor with a defined beginning and end , undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value...
, coordination, strategic planning
Strategic planning
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues...
, relationship management, negotiation, leadership and innovative development of opportunities.
keeping record of transaction of sale and purchase goods
Key account management model
The basic assumption for a key account management model is the correct classification of the key accounts. A basic model often used in the period of 1950-1970 was the classification model of Webster, this model has been adapted by Milman and Wilson into a two dimensional model and was paramount in the period of 1970-1990. Bensaou has tested this model empirically by his research of carmakers in the United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
and corrected the fundamental flaws. De Blick synthesized the adaptations into the 4S-model, which is at present the dominant key account classification model.