Question

Reading Managing Current Accounts (Includes w Questions) Review Questions 1. Describe why you think a sales professional responsible for account management might be called a "farmer?" 2. In your own words, define an effective "account plan." 3. Why should sales professionals be concerned with account profitability as well as meeting their sales revenue goals? 4. Describe account relationship management and how it is a key strategy to effect account management.

Answer 1

1) The key personnel in Account management is sales professional or you can call him as an account manager, who is responsible for creating strong customer base in order to retain them and make a strong influence on their buying decision. Here account person is one who has a direct contact with sales as well as the customers that's why sales personals is responsible for account management.

2)Account plan is the most important base for success of sales manager or the sales personals, it brings together the information related to customer,competitors and your sales strategy snd make sure that each customer is considered for the success of organisation.
Effective account plan should be crafted to meet mutual benefits that is need of company as well as that of customer’s so it should be a win -win plan. Plan should include different phase so that it can be managed and executed in well manner, here we can follow Kapta’s strategic to formulate the plan. it needs to be reviewed and shared to the concerned team.
3) sales personals need to be concerned about profitability and sales revenue goals, because firm can be at profitable position only if its revenues exceed its costs, and revenue increase when their is increase in sales.

4)Account relationship management involves management by a account manager who is responsible for the management of sales as well as the relationships with particular customers.here the manager maintains a reliable relationship with a client or group of clients in order to increase the loyalty of clients towards company for a long period of time.