An exploratory study into the importance of key account management and the value it brings to the buyer-seller relationship
This study explores the importance of Key Account Management and the value it brings to the buyer-seller relationship. The study examines past and current literature in the areas o f Key Account Management and Relationship Marketing. The nature of this study is exploratory. The research consisted o f a combination of primary and secondary research. Primary data was collected from 125 questionnaires and ten in-depth interviews with key account managers and buyers. The secondary data was attained from business libraries academic journals, textbooks within the relevant area and library electronic databases of the internet. The primary research uncovered a number of key findings. Findings confirm the importance and value opportunities of Key Account Management to buyers and sellers. Findings also confirmed the significant role the KAM plays in building and maintaining the buyer-seller relationship primarily through the provision of high quality customer service and support to their key accounts. The value of organisational support, trust and commitment and regular communication in developing and maintaining a successful long- term buyer-seller relationship was also identified. The study concludes by arriving at conclusions to the overall research objective and five supporting research objectives. Recommendations are then presented for further research in the area of KAM. Suggestions include increasing the amount of customers research the selling company carry’s out to improve understanding of the buyer, their needs and value requirements, improving the value delivered to the customer.
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