Assignment-3

Submitted by:
Urvashi Singh
IMB2020009

1.Do you need KAM in your business? List the three most significant reasons for practicing KAM in your
own business.

Ans.1 Client relationships are the focus of Key Account Management. It aids in the retention of clients'
business and the expansion of such opportunities.
The following are some of the most compelling reasons to use KAM in the workplace:

● customer-centric innovation.
● Supporting the efforts; maintaining and strengthening our client relationships of trust.
● Internal inertia and complacency can be broken down using the customer as a battering ram.

2.Does this represent a reactive or a proactive approach to the market opportunity?

Ans.2 Proactive management entails thinking ahead, anticipating, and planning for a change or crisis,
whereas reactive management entails reacting to a change or crisis after it has occurred. As a result,
KAM can be viewed as a method for businesses to develop existing relationships and increase sales by
being proactive and looking for opportunities, as is frequently expected of KAM.

3.Is the challenge: local, regional or global, and what is the implication of that on your KAM challenge?
Okay, in a hierarchical structure, KAM is a tough capacity because, despite the fact that it is not
responsible for direct transactions, it is responsible for assisting the customer after the transaction has
been completed, for as long as that is possible. The assisting isn't as natural as it appears because the
KAM is required to deal with the client as an accomplice. The KAM must fully know the customer,
including their issues, especially those that aren't entirely obvious, and devise mutually beneficial
solutions to remedy the issue or fill in the gaps. This is one essential relationship that an Account
Manager must continue to work on without stopping, just like any other. A CRM will not suffice in this
case. Key Account Management necessitates a framework that is specifically designed for the task of a
KAM. This framework provides a broad overview of the entire record, including individuals, the various
roles they perform, their powerful potential, the stakes that an intricate record entails, and client
components, allowing you to make the best decision at the right time. The new framework takes the
existing CRM and improves it.
4.Is the opportunity: winning new customers, growth with existing customers, or defending existing
business, and what is the implication of that on your KAM challenge?

Ans.4 The ability of sales organizations to keep and create important records is critical to their survival.
The use of key records on the board as a vital path to maintaining competitive advantage and settling
tasks is widely recognised in mature business sectors where the main development comes at a
competitor's cost. It was clear from the start.This focuses on the fact that there has been a change from
key record offering to a far more complicated, esteem-based provision.The executives move closer to
purchasing organizations from offering organizations. It's understandable, though in supply chains,
specific pockets of value-based and ill-disposed arrangements will continue, but the main trend in
supply chains will not.The trend in business-to-business markets is toward higher degrees of
organization between selling and buying groups.Buying organizations, to the point where organizational
boundaries are muddled. Those dyads who have previously rehearsed with the organization are
convinced of its dedication to cutting costs and improving quality. To oversee relationships with
significant clients, key record executives want process excellence and profoundly talented experts. For
the most part, this takes care of a variety of issues. From item or geological concentration to customer
center, an upheaval is required in the way transportation is cost and expenses are assigned. Few
monetary or data frameworks in companies have been improved to the point where they can support
the higher degrees of important records of the leaders. A shift in the way a professional with
responsibility for a client relationship is developed is necessary, from a focus on giving abilities to a focus
on board abilities, which includes various administration abilities. Finally, a shift in the way talent is
managed within organizations is required, ranging from a focus on departmental designs and
topographies to multi-disciplinary teams assigned to specific key records.