Key Account Management Strategies Are Emphasized by Top-Tier Business Marketing

question 63

Essay

Key account management strategies are emphasized by top-tier business marketing firms like 3M, IBM, and Dow Chemical. Compare and contrast a key account with a regular account. Next, describe how the sales strategy for a key account differs from the traditional selling focus used for regular accounts.

---

Definitions:

Full Disclosure Principle

An accounting principle requiring that financial statements present all relevant information about the business's financial condition and performance.

FOB Shipping Point

A term used in shipping agreements indicating that the buyer is responsible for the goods and the cost of shipping as soon as the goods leave the seller's premises.

Goods In Transit

Items being transported from one location to another, which have not yet reached the recipient or destination point.

Purchaser's Inventory

Goods and materials that a business holds for the ultimate goal of resale.