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Account Management Growth Strategy: Fueling Revenue and Client Loyalty
By: Alexandra Hernandez, Senior Account Management Consultant at GrowthSphere Consulting
Alexandra Hernandez has over 10 years of experience in account management, specializing in developing and implementing high-impact growth strategies for SaaS companies. Her expertise lies in optimizing client relationships for sustained revenue growth and maximizing customer lifetime value. She's a frequent speaker at industry conferences and a published author on the topic of customer success.
Published by: SalesForce Insights – A Leading Voice in Sales and Customer Relationship Management
SalesForce Insights is a trusted source of information for sales and customer relationship management professionals worldwide. With a reputation built on delivering insightful analysis and practical advice, SalesForce Insights provides cutting-edge content for businesses of all sizes seeking to optimize their sales and customer success strategies.
Edited by: Michael Davies, Editor-in-Chief, SalesForce Insights
Michael Davies boasts over 15 years of experience in editorial leadership within the technology and business sectors. His expertise in distilling complex information into clear, concise, and impactful content makes him ideally suited to edit this piece on account management growth strategy.
Abstract: This article delves into the critical aspects of an effective account management growth strategy. It explores its significance in today's competitive landscape, outlining key strategies for maximizing customer lifetime value, increasing revenue streams, and fostering strong client relationships. We will examine best practices, explore emerging trends, and discuss the broad implications of a well-executed account management growth strategy for various industries.
H1: The Evolving Landscape of Account Management: Why a Growth Strategy is Crucial
The traditional role of account management is undergoing a significant transformation. It's no longer simply about maintaining existing client relationships; it's about strategically growing those relationships to drive revenue and foster long-term loyalty. A robust account management growth strategy is essential for businesses aiming to thrive in today's dynamic market. This strategy should be a proactive approach, constantly seeking opportunities for expansion and deeper engagement with key accounts. The failure to adopt such a strategy can lead to stagnant revenue growth, increased customer churn, and missed opportunities for expansion within existing accounts.
H2: Key Pillars of a Successful Account Management Growth Strategy
A successful account management growth strategy rests on several key pillars:
Deep Client Understanding: Thorough understanding of a client's business, goals, and challenges is paramount. This involves detailed analysis of their current situation, identification of their pain points, and understanding their future aspirations. Data-driven insights are critical here, utilizing CRM data and other relevant sources to paint a complete picture of the client.
Personalized Engagement: Generic approaches rarely succeed. A successful strategy focuses on delivering personalized experiences that cater to individual client needs. This includes tailored communication, customized solutions, and proactive support.
Strategic Account Segmentation: Grouping clients based on shared characteristics (e.g., revenue, industry, potential) allows for targeted strategies and resource allocation. This ensures efficient deployment of resources and maximizes the impact of your efforts.
Proactive Upselling and Cross-selling: Identifying and presenting opportunities for expansion within existing accounts is crucial. This requires a deep understanding of the client's needs and a proactive approach to proposing relevant solutions.
Continuous Improvement and Measurement: Regularly tracking key metrics such as customer lifetime value (CLTV), customer churn rate, and revenue growth from existing accounts allows for ongoing optimization of the strategy. Data analysis informs adjustments and ensures continuous improvement.
Technology Leverage: Employing CRM systems, account management software, and other relevant technologies streamlines processes, improves data analysis, and enhances communication efficiency.
H3: Implementing Your Account Management Growth Strategy: A Practical Approach
Implementing a successful account management growth strategy requires a structured approach:
1. Define Clear Goals and Objectives: Establish measurable goals, such as increased revenue from existing accounts, improved customer retention, or expansion into new product/service areas.
2. Develop a Detailed Strategy: Outline specific tactics and actions required to achieve your goals, including account segmentation, communication plans, and upselling/cross-selling strategies.
3. Choose the Right Tools and Technologies: Select appropriate CRM systems and account management software to support your strategy.
4. Train Your Team: Equip your account management team with the necessary skills and knowledge to effectively implement the strategy.
5. Monitor and Measure: Continuously track key performance indicators (KPIs) and make adjustments as needed.
H4: Industry Implications of a Robust Account Management Growth Strategy
The implications of a robust account management growth strategy are far-reaching across various industries:
Increased Revenue and Profitability: A well-executed strategy directly impacts the bottom line by increasing revenue from existing accounts and improving customer lifetime value.
Improved Customer Retention: Stronger client relationships lead to higher retention rates, reducing acquisition costs and improving overall profitability.
Enhanced Brand Reputation: Exceptional client experiences translate into positive word-of-mouth marketing and enhance brand reputation.
Competitive Advantage: Organizations that effectively leverage account management for growth gain a competitive edge in the marketplace.
H5: Future Trends in Account Management Growth Strategy
Several emerging trends are shaping the future of account management growth strategy:
AI-powered insights: Artificial intelligence is increasingly being utilized to gain deeper insights into client behavior and preferences, leading to more personalized and effective strategies.
Data-driven decision making: Data analytics play a crucial role in informing strategic decisions and optimizing the effectiveness of account management efforts.
Emphasis on Customer Experience (CX): Providing exceptional customer experiences is becoming increasingly important for retaining clients and driving growth.
Conclusion:
A well-defined account management growth strategy is no longer a luxury but a necessity for businesses aiming to achieve sustainable growth and thrive in a competitive market. By focusing on deep client understanding, personalized engagement, and data-driven decision making, organizations can unlock significant opportunities for revenue expansion, customer loyalty, and long-term success. The proactive approach, leveraging technology and adapting to emerging trends, will be key differentiators for organizations in the years to come.
FAQs:
1. What is the difference between account management and customer success? Account management focuses on revenue growth within existing accounts, while customer success focuses on ensuring customers achieve their desired outcomes with the product or service.
2. How do I measure the success of my account management growth strategy? Key performance indicators (KPIs) such as customer lifetime value (CLTV), customer churn rate, revenue growth from existing accounts, and customer satisfaction scores should be tracked.
3. What are some common mistakes to avoid when implementing an account management growth strategy? Failing to personalize engagement, neglecting data analysis, and not adequately training your team are common pitfalls.
4. How can technology help improve my account management growth strategy? CRM systems, account management software, and data analytics tools can significantly improve efficiency, data analysis, and communication.
5. What is the role of account segmentation in a growth strategy? Segmentation allows for targeted strategies and efficient resource allocation, maximizing the impact of your efforts.
6. How can I identify opportunities for upselling and cross-selling within existing accounts? Through regular communication, understanding client needs, and analyzing their usage patterns, you can identify expansion opportunities.
7. How often should I review and adjust my account management growth strategy? Regular review, at least quarterly, is crucial to adapt to changing market conditions and client needs.
8. What is the importance of proactive communication in an account management growth strategy? Proactive communication builds stronger relationships, identifies potential issues early on, and creates opportunities for expansion.
9. How can I ensure my account management team is equipped to execute the strategy effectively? Provide thorough training, access to necessary tools, and ongoing support and development opportunities.
Related Articles:
1. "Account-Based Marketing (ABM) and Account Management: A Synergistic Approach to Growth": This article explores the powerful combination of ABM and account management for driving revenue and strengthening client relationships.
2. "The Role of Data Analytics in Optimizing Account Management Strategies": This article delves into how data analytics can inform decision-making and enhance the effectiveness of account management efforts.
3. "Building High-Performing Account Management Teams: Recruitment, Training, and Motivation": This article focuses on the strategies for building and managing a successful account management team.
4. "Customer Lifetime Value (CLTV) and its Importance in Account Management Growth": This article discusses the critical role of CLTV in understanding and maximizing the value of each client relationship.
5. "The Impact of Customer Success on Account Management Growth": This article explores the symbiotic relationship between customer success and account management and how they work together to achieve growth.
6. "Overcoming Challenges in Account Management: Strategies for Handling Difficult Clients and Situations": This article addresses common challenges in account management and offers solutions for dealing with them effectively.
7. "Leveraging Technology to Enhance Account Management Efficiency and Productivity": This article highlights the use of technology in account management, including CRM systems and other tools.
8. "Best Practices for Account Planning and Forecasting in Account Management": This article offers practical advice on account planning and forecasting for accurate revenue projections.
9. "The Future of Account Management: Emerging Trends and Technologies": This article examines the latest trends and technologies shaping the future of account management, including AI and machine learning.
| account management growth strategy: Critical Selling Nick Kane, Justin Zappulla, 2015-10-19 Master these top-performing sales skills to dominate the marketplace Critical Selling is a dynamic and powerful guide for transforming your sales approach and outperforming your competition. This book is based on Janek Performance Group's, an award winning sales performance company, most popular sales training program, Critical Selling®. Let authors Justin Zappulla and Nick Kane, Managing Partners at Janek, lead you through their flagship sales training methodology to provide you with the strategies, skills and best practices you need to accelerate the sales process and close more deals. From the initial contact to closing the deal, this book details the winning strategies and skills that have supercharged the sales force of program alumni like OptumHealth, Santander Bank, Daimler Trucks, California Casualty, and many more. Concrete, actionable steps show you how to plan a productive sales call, identify customer needs, differentiate yourself from the competition, and wrap up the sale. You'll also learn proven techniques for building rapport, overcoming objections, dealing with price pressures, and handling the million little things that can derail an otherwise positive sales interaction. Sales are the lifeblood of your company. Are they meeting your expectations? What if you could exceed projected sales figures and blow your competition out of the water? This book provides the research-based framework to ignite your sales team and excite your customer base, for sustainable success in today's market. Let Critical Selling® show you how to: Connect with customers on a deeper level to build trust Present a persuasive and value-based solution tailored to your customer’s needs Handle pricing pressure, doubt, and objections with confidence Utilize proven methodologies that help you close the sale Sales is about so much more than exchanging goods or services for cash. It's about relationships, it's about outperforming the competition, it's about demonstrating real value, and it's about understanding and solving people's problems. Critical Selling shows you how to bring it all together, using proven techniques based on real sales performance research. |
| account management growth strategy: Implementing Key Account Management Javier Marcos, Mark Davies, Rodrigo Guesalaga, Sue Holt, 2018-08-03 Implementing Key Account Management is a highly practical handbook that guides readers through the realities of rolling out a functional key account management programme. The book offers an integrated framework for key account management (KAM) that businesses can use to design or further develop strategic customer management programmes, enabling them to overcome the obstacles that organizations often face when rolling out their strategies. Bringing together the experiences of leading experts within this field, Implementing Key Account Management draws on two decades of research and best practice from Cranfield University School of Management, one of the foremost centres for researcher and thought leadership in KAM. Between them, the authors have designed and delivered programmes globally for clients such as Rolls-Royce, Unilever, Vodafone, The Economist and many more. Rigorously researched, well-grounded and practical, this book is - quite simply - the definitive, go-to resource for implementing key account management programmes. |
| account management growth strategy: The Seven Keys to Managing Strategic Accounts Sallie Sherman, Joseph Sperry, Samuel Reese, 2003-04-29 Market-proven strategies to generate competitive advantage by identifying and always taking care of your best customers The Seven Keys to Managing Strategic Accounts provides decision makers with a proactive program for profitably managing their largest, most critical customers--their strategic accounts. Drawing on the expertise of S4 Consulting, Inc., a leading-edge provider of strategic account consulting, and Miller Heiman, a global sales training leader serving many Fortune 500companies, this how-to book shows how many of today's market leaders have learned to focus on their most profitable customers, avoiding or overcoming common errors before they become relationship-crippling disasters. Placing its total focus on the design and implementation of cost-effective strategic account management programs, this hands on book provides: A world-class competency model for strategic account managers Techniques for developing a program to manage and grow co-destiny relationships Examples and cases from Honeywell, 3M,and other leading corporations |
| account management growth strategy: Insight Selling Mike Schultz, John E. Doerr, 2014-05-05 What do winners of major sales do differently than the sellers who almost won, but ultimately came in second place? Mike Schultz and John Doerr, bestselling authors and world-renowned sales experts, set out to find the answer. They studied more than 700 business-to-business purchases made by buyers who represented a total of $3.1 billion in annual purchasing power. When they compared the winners to the second-place finishers, they found surprising results. Not only do sales winners sell differently, they sell radically differently, than the second-place finishers. In recent years, buyers have increasingly seen products and services as replaceable. You might think this would mean that the sale goes to the lowest bidder. Not true! A new breed of seller—the insight seller—is winning the sale with strong prices and margins even in the face of increasing competition and commoditization. In Insight Selling, Schultz and Doerr share the surprising results of their research on what sales winners do differently, and outline exactly what you need to do to transform yourself and your team into insight sellers. They introduce a simple three-level model based on what buyers say tip the scales in favor of the winners: Level 1 Connect. Winners connect the dots between customer needs and company solutions, while also connecting with buyers as people. Level 2 Convince. Winners convince buyers that they can achieve maximum return, that the risks are acceptable, and that the seller is the best choice among all options. Level 3 Collaborate. Winners collaborate with buyers by bringing new ideas to the table, delivering new ideas and insights, and working with buyers as a team. They also found that much of the popular and current advice given to sellers can damage sales results. Insight Selling is both a strategic and tactical guide that will separate the good advice from the bad, and teach you how to put the three levels of selling to work to inspire buyers, influence their agendas, and maximize value. If you want to find yourself and your team in the winner's circle more often, this book is a must-read. |
| account management growth strategy: Key Account Management Diana Woodburn, Malcolm McDonald, 2012-11-13 This book is crammed with distilled, practical wisdom for key account managers and their directors. Organizations claiming to practise key account management should equip everyone involved with a copy, so they really understand what they are supposed to be doing. Anything less is just old-fashioned selling. Developing successful business-to-business relationships with more customers in highly competitive markets requires processes and skills that go beyond traditional selling activity. The very best state-of-the-art strategies are set out clearly in this book by intentionally known authors who have worked at the highest levels with more key and strategic account managers worldwide than probably any other leading advisors. Based on the hugely influential KEY CUSTOMERS it looks at: Why has account management become so critical to commercial success? What are the key challenges and how do successful companies respond? What part does key account management play in strategic planning? How do companies build profitable relationships with their customers? How does key account management actually work? What does a successful key account manager look like and what skills does he/she need? How should key account managers be evaluated and rewarded? How do companies achieve key account management? By addressing these key questions Woodburn and McDonald provide tools and processes for success honed by tough consultancy projects with the boards of some of the world's leading companies. The book stresses the elements that really matter - from developing a customer categorization system that really works and analyzing the needs of key accounts; to understanding the new skills required by key account managers and ensuring that key account plans are implemented. The 'real world' approach is backed by tested principles and the latest research from the renowned Cranfield School of Management. Key Account Management comes from authors who have taught leading companies how to approach their most powerful and demanding customers and still make money. It is essential reading for all senior management with strategic responsibility, for key or strategic account directors, and for marketing and sales executives. The clear and authoritative approach also makes it an outstanding text for the serious MBA and executive student as well as business-to-business company directors and key account managers. |
| account management growth strategy: A Practitioner's Guide to Account-based Marketing Bev Burgess, Dave Munn, 2021-06-29 Improve relationships, drive growth and win new business by developing and implementing highly-customized B2B marketing programmes for key accounts. |
| account management growth strategy: Fit for Growth Vinay Couto, John Plansky, Deniz Caglar, 2017-01-10 A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. *Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States |
| account management growth strategy: The Art of Client Service Robert Solomon, 2016-04-04 A practical guide for providing exceptional client service Most advertising and marketing people would claim great client service is an elusive, ephemeral pursuit, not easily characterized by a precise skill set or inventory of responsibilities; this book and its author argue otherwise, claiming there are definable, actionable methods to the role, and provide guidance designed to achieve more effective work. Written by one of the industry's most knowledgeable client services executives, the book begins with a definition, then follows a path from an initial new business win to beginning, building, losing, then regaining trust with clients. It is a powerful source of counsel for those new to the business, for industry veterans who want to refresh or validate what they know, and for anyone in the middle of the journey to get better at what they do. |
| account management growth strategy: Handbook of Strategic Account Management Diana Woodburn, Kevin Wilson, 2014-03-17 A compilation of the established knowledge in strategic account management While companies and academics expend tremendous effort on mass marketing, they often overlook their immediate customers (which are critical in both senses) and hence the importance of strategic account management (SAM). This handbook is a compilation of papers that present researched knowledge of SAM across the academic community which fills a void in the existing academic literature. Handbook of Strategic Account Management identifies drivers of the SAM approach, key issues and success factors, operational needs and areas still awaiting exploration. Each paper includes an overall referenced summary of the tenets of SAM relevant to the area it reports, and together with the combined list of references, it creates an indispensable resource for academic readers, students, and researchers. Handbook of Strategic Account Management is written by over 40 knowledgeable experts with substantial experience of SAM from teaching, researching, writing and advising companies on why and how it works, spread widely across Europe and the US. It represents the balanced, researched body of knowledge in SAM and will be an invaluable resource to anyone exploring the approach, whether for a student thesis, for original research or for answers on how to approach SAM as a company initiative. Today’s strategic, key and global account management professionals owe thanks to a small community of academic researchers who, over the past three decades have been pioneers in identifying, cataloguing and analyzing the selling and business management practices of an emerging profession we now call strategic account management. This Handbook is an important milestone to mark SAM’s still evolving impact on corporate business strategies and its ever-increasing relevance as a proven engine for growth in business-to-business strategic customer relationships. Bernard Quancard,President & CEO of SAMA (US-based Strategic Account Management Association with over 3,000 members worldwide) Yana Atanasova Bjorn Ivens Toni Mikkola Ivan Snehota Audrey Bink Ove Jensen Stefanos Mouzas Kaj Storbacka Per-Olof Brehmer Robert Krapfel Peter Naud頠 Olavi Uusitalo Noel Capon Antonella La Rocca Jukka Ojasalo Tom Vanderbiesen Simon Croom Sylvie Lacoste Catherine Pardo Stefan Wengler Osman Gök Nikala Lane Nigel Piercy Kevin Wilson Paolo Guenzi Régis Lemmens Michael Pusateri Diana Woodburn Stephan Henneburg Tommi Mahlamäki Jakob Rehme John Workman Sue Holt Malcolm McDonald Sanjiy Sengupta George Yip Christian Homburg Florin Mihoc Christoph Senn Judy Zolkiewski |
| account management growth strategy: Enterprise Growth Strategy Dhirendra Kumar, 2016-05-06 Even during economic downturns businesses have to grow to survive and compete in domestic and international markets. There is always a need to plan for future growth. Enterprise Growth Strategy presents the total process of a growth strategy. Dr Kumar is an engineer who entered the academic world following a long career in manufacturing business and has since taught almost every aspect of business and management. The 'growth strategy' concept he has developed is comprehensive and manifestly practical. Dr Kumar describes mechanisms by which businesses can gain market share; develop, modify, or upgrade products; acquire new or expand existing businesses; transform resources to increase revenue and profitability; reduce cycle time; and empower business associates. Quality concepts - market growth, financial and core competency - are outlined and a variety of growth strategy tools presented. The relationship between continuous improvement metrics and business growth metrics is explained and their relevance to financial performance examined. Examples and case studies are presented to illustrate how different business areas such as Sales and Marketing; Product Development; Operations; Support Services; and the Finance function, contribute. Leadership responsibilities, employee participation in the execution of growth strategy, culture and change issues are also discussed. Business leaders, managers and consultants, academics and teachers, as well as higher level students on business-related courses will find enormous value in this book. It is unusual, if not unique, in presenting the total process from vision to mission, to development of a growth strategy, implementation of initiatives, use of tools, and measurement of both operational and financial outcomes. |
| account management growth strategy: Introduction to Account Management , Welcome to the forefront of knowledge with Cybellium, your trusted partner in mastering the cutting-edge fields of IT, Artificial Intelligence, Cyber Security, Business, Economics and Science. Designed for professionals, students, and enthusiasts alike, our comprehensive books empower you to stay ahead in a rapidly evolving digital world. * Expert Insights: Our books provide deep, actionable insights that bridge the gap between theory and practical application. * Up-to-Date Content: Stay current with the latest advancements, trends, and best practices in IT, Al, Cybersecurity, Business, Economics and Science. Each guide is regularly updated to reflect the newest developments and challenges. * Comprehensive Coverage: Whether you're a beginner or an advanced learner, Cybellium books cover a wide range of topics, from foundational principles to specialized knowledge, tailored to your level of expertise. Become part of a global network of learners and professionals who trust Cybellium to guide their educational journey. www.cybellium.com |
| account management growth strategy: Good Strategy/Bad Strategy Richard Rumelt, 2011-06-09 When Richard Rumelt's Good Strategy/Bad Strategy was published in 2011, it immediately struck a chord, calling out as bad strategy the mish-mash of pop culture, motivational slogans and business buzz speak so often and misleadingly masquerading as the real thing. Since then, his original and pragmatic ideas have won fans around the world and continue to help readers to recognise and avoid the elements of bad strategy and adopt good, action-oriented strategies that honestly acknowledge the challenges being faced and offer straightforward approaches to overcoming them. Strategy should not be equated with ambition, leadership, vision or planning; rather, it is coherent action backed by an argument. For Rumelt, the heart of good strategy is insight into the hidden power in any situation, and into an appropriate response - whether launching a new product, fighting a war or putting a man on the moon. Drawing on examples of the good and the bad from across all sectors and all ages, he shows how this insight can be cultivated with a wide variety of tools that lead to better thinking and better strategy, strategy that cuts through the hype and gets results. |
| account management growth strategy: Strategy Beyond the Hockey Stick Chris Bradley, Martin Hirt, Sven Smit, 2018-02-06 Beat the odds with a bold strategy from McKinsey & Company Every once in a while, a genuinely fresh approach to business strategy appears —legendary business professor Richard Rumelt, UCLA McKinsey & Company's newest, most definitive, and most irreverent book on strategy—which thousands of executives are already using—is a must-read for all C-suite executives looking to create winning corporate strategies. Strategy Beyond the Hockey Stick is spearheading an empirical revolution in the field of strategy. Based on an extensive analysis of the key factors that drove the long-term performance of thousands of global companies, the book offers a ground-breaking formula that enables you to objectively assess your strategy's real odds of future success. This book is fundamental. The principles laid out here, with compelling data, are a great way around the social pitfalls in strategy development. —Frans Van Houten, CEO, Royal Philips N.V. The authors have discovered that over a 10-year period, just 1 in 12 companies manage to jump from the middle tier of corporate performance—where 60% of companies reside, making very little economic profit—to the top quintile where 90% of global economic profit is made. This movement does not happen by magic—it depends on your company's current position, the trends it faces, and the big moves you make to give it the strongest chance of vaulting over the competition. This is not another strategy framework. Rather, Strategy Beyond the Hockey Stick shows, through empirical analysis and the experiences of dozens of companies that have successfully made multiple big moves, that to dramatically improve performance, you have to overcome incrementalism and corporate inertia. A different kind of book—I couldn't put it down. Inspiring new insights on the facts of what it takes to move a company's performance, combined with practical advice on how to deal with real-life dynamics in management teams. —Jane Fraser, CEO, Citigroup Latin America |
| account management growth strategy: Managing Global Customers George S. Yip, Audrey J. M. Bink, 2007-09-06 Multinational companies need to manage their relationships with multinational customers with a globally integrated approach. This book provides a systematic framework for developing and implementing such global customer management programs. It draws on in-depth research at over 20 major U.S. and European multinational companies, such as ABB, Bechtel, BP, Bosch, British Airways, Carrefour, Daimler-Chrysler, Hewlett-Packard, HSBC, IBM, Schlumberger, Shell, Siemens, Tesco, Unilever, Vodafone, Wal-Mart, and Xerox. Readers will learn how to · think about managing global customers in the context of their overall global strategy · develop effective global customer management programs · overcome barriers to implementation and success · build better relationships with important customers · get the entire company to engage with managing global customers This book takes a strategic, total business, and not just sales approach to managing global customers. It also takes a customer as well as a supplier perspective. The book provides guidance on both strategy and implementation. Yip and Bink's Managing Global Customers takes a systematic and logic driven approach, yet provides many creative insights and practical advice. Managing Global Customers highlights the rewards of taking a step beyond global account management to create a Global Customer Management approach, integrating globally all aspects of the relationship between supplier and customer. The book gives a framework that guides international companies in using their relationships with global customers to their full potential. George Yip, author of the widely-praised Total Global Strategy, and Audrey Bink tackle in-depth one of the most important aspects of global strategy: How to manage global customers. |
| account management growth strategy: Sales Growth Thomas Baumgartner, McKinsey and Company, Homayoun Hatami, Jon Vander Ark, 2012-04-24 Drawing on interviews of global sales leaders, provides ways to overcome competition, maximize market opportunities, and improve sales growth. |
| account management growth strategy: Key Account Management Peter Cheverton, 2015-02-03 An organization's key accounts are its lifeblood. Key account management focuses on the long-term investment of resources in customers that can offer an exceptional return on resources. But which are the key accounts? Are they the ones growing the fastest? The ones that are most financially secure? Or are they the ones that shout the loudest? Key Account Management puts forward a straightforward and effective planning methodology. This fully updated 6th edition of Key Account Management takes a long-term, team-selling strategic view of the whole process, from defining the customer, to managing the relationship and achieving key supplier status. With coverage of latest best practice including IT's role in account management, plus new case studies, online supporting resources and a new section comparing how different industries/markets approach key account management, it stands alone as the premier book on managing key customers. Online resources include helpful templates, guides for students and lecturers, and self tests to ensure that best practice is being followed. |
| account management growth strategy: Major Account Sales Strategy (PB) Neil Rackham, 1989-01-22 An Arsenal of Shrewd Tactics and Winning Strategies to Make You a Major Account Sales Success Knowing how to get to the decision maker, deal with the competition, understand buyer psychology, and service the client--these are the keys to success when you need to nail down major accounts. Now, for the first time, here's a book of practical, proven-effective strategies and tactics for the entire major account sales cycle. Based on Neil Rackham's exhaustive research, the strategies you'll find here will enable you to . . . Tailor your selling strategy to match each step in the client's decision-making process. Ensure that you won't lose your customers because you'll know the psychology of the buyer and how to respond to their doubts. Gain entry to accounts through many different windows of opportunity. Deal with competitive situations, take on bigger competitors, and win using strategies that the author's meticulous research shows are employed by the most successful salespeople. Handle negotiations, concessions on price, and term agreements skillfully and effectively. Offer the ongoing technical and maintenance support that keeps your major accounts yours. From a world-renowned sales innovator, this first-of-a-kind A-to-Z presentation of major account strategy puts sales success in your hands. Make it yours today. Read Major Account Sales Strategy. |
| account management growth strategy: Account-Based Growth Bev Burgess, Tim Shercliff, 2022-11-03 Develop long-term relationships, deliver market-beating growth, and create sustainable value with this pragmatic guide to aligning marketing, sales, customer success and your executives around your most important customers. Many B2B companies make half their profitable revenue from just three percent of their customers, yet don't recognize the significance of these accounts, nor invest appropriately in them. Account-Based Growth introduces a comprehensive framework for improving internal alignment and external engagement with these vital few. It contains bullet-pointed takeaways at the end of each chapter plus a comprehensive checklist to help you improve your own company's approach to its most important customers. Each element of the framework is brought to life through viewpoints from industry experts and case studies from leading organizations including Accenture, Fujitsu, Infosys, SAP, Salesforce, ServiceNow and Telstra. |
| account management growth strategy: Your Strategy Needs a Strategy Martin Reeves, Knut Haanaes, Janmejaya Kumar Sinha, 2015 And, they avoid the common frustrations stemming from lack of perceived relevance and engagement around on the strategy process. How you choose and execute the right approach is the focus of this book. From Global BCG strategy experts Martin Reeves, Knut Haanæs, Janmejaya Sinha (and based on the bestselling article in Harvard Business Review), Your Strategy Needs a Strategy offers a practical guide to help you to match your approach to strategy to your environment and execute it effectively, to combine different approaches for companies which operate in multiple environments, and to lead your organization in making better strategic choices. Organizing approaches into five strategic archetypes-Be Big, Be Fast, Be First, Be the Orchestrator, Be Viable-the authors explain the conditions under which each is appropriate, when and how to execute each one, and how to avoid common strategy traps. |
| account management growth strategy: Swim with the Sharks Without Being Eaten Alive Harvey B. Mackay, 2009-03-17 This straight-from-the-hip handbook by bestselling author and self-made millionaire Harvey Mackay spells out the path to success for readers everywhere. They will learn how to: Outsell by getting appointments with people who absolutely, positively do not want to see you, and then making them glad they said yes! Outmanage by arming yourself with information on prospects, customers, and competitors that the CIA would envy - using a system called the Mackay 66. Outmotivate by using his insights to help yourself or your kids join the ranks of Amercia's one million millionaires. Outnegotiate by knowing when to smile and say no and when to send in the clones. This one-of-a-kind book by a businessman who's seen it all and done it all has sold almost 2 million copies, and is the essential roadmap for everyone on the path to success. |
| account management growth strategy: Product-Led Growth Bush Wes, 2019-05 Product-Led Growth is about helping your customers experience the ongoing value your product provides. It is a critical step in successful product design and this book shows you how it's done. - Nir Eyal, Wall Street Journal Bestselling Author of Hooked |
| account management growth strategy: The Granularity of Growth Patrick Viguerie, Sven Smit, Mehrdad Baghai, 2011-01-13 While growth is a top priority for companies of all sizes, it can be extremely difficult to create and maintain—especially in today’s competitive business environment. The Granularity of Growth will put you in a better position to succeed as it reveals why growth is so important, what enables certain companies to grow so spectacularly, and how to ensure that growth comes from multiple sources as you take both a broad and a granular view of your markets. |
| account management growth strategy: Key Account Management Malcolm McDonald, Beth Rogers, Chartered Institute of Marketing, 1998 Key account management is a natural development of customer focus and relationship marketing in business-to-business markets. It offers critical benefits and opportunities for profit enhancement to both sides of the seller/buyer dyad. Based on extensive and unique research by Cranfield School of Management, Key Account Management presents a new framework for understanding the development of key account relationships. It incorporates a comprehensive guide to the current practice of key account management, and comments on the challenges for the future of key account management practice. The research was based on in-depth interviews with key account managers, their managers and their main contacts in the customer organization. Addresses one of the key new areas in strategic marketing practice Ideal for practitioners and students Based on the unique expertise of the Cranfield Marketing Faculty |
| account management growth strategy: Virtual Selling: How to Build Relationships, Differentiate, and Win Sales Remotely Mike Schultz, Dave Shaby, Andy Springer, 2020-07-17 |
| account management growth strategy: Key Account Management Peter Cheverton, 2008-05-03 Key Account Management is a highly practical book with a unique yet simple planning methodology for identifying, obtaining, retaining and developing key customers - the lifeblood of any organization. Fully re-written to reflect the most recent trends and challenges, this new edition will reinforce its standing as the premier book on the subject. Very few books take the long-term, team-selling strategic view of KAM that this book takes, and it is the only book which focuses on implementation rather than theory. Based on real and current experience of companies facing the challenge, it provides tools for use in the real world that will help you to plan your own strategy as you proceed. The case studies span the full breadth of the KAM experience: FMCG, Retail, B2B, Petrochemical, Speciality Chemical, Service Industry, Pharmaceutical, IT and Financial Services. With a CDROM containing ready-to-use application tools, Key Account Management has found a global resonance with business practitioners, whilst also establishing itself on many academic reading lists. |
| account management growth strategy: Edge Strategy Alan Lewis, Dan McKone, 2015-12-29 Are you missing opportunities for growth that are right in front of you? In today’s volatile economic environment, filled with uncertainty and sudden change, the forces pushing you to stay focused on the core business are extremely powerful. Profiting from the core is crucial, but the danger is that overfocus on the core can blind companies. Scanning the horizon for new markets and new products can also be tempting, but risky. Fixating too much on either strategy can cause you to miss the substantial opportunities for growth that are often hidden in plain sight, at the edge of the core business. In this insightful yet practical book, strategy experts Alan Lewis and Dan McKone articulate a mindset that helps leaders recognize and capitalize on these opportunities. The Edge Strategy framework challenges how the boundaries of your existing products and services map to your customers’ views of the world and then provides three different lenses through which you can see and leverage value: • Product edge. How to capture incremental profits and other benefits by slightly altering the elements and composition of a core offering • Journey edge. How to create and capture extra value by adjusting your role in supporting the customer’s journey to and through your offering • Enterprise edge. How to unlock additional value from resources and capabilities that support your core offering by applying them in a different context, for a different offering or different set of customers With engaging examples across many industries, Lewis and McKone coach you on how to identify and assess each of the different “edges” and then provide concrete insights and advice on applying edge strategy and tactics to use in specific business contexts. The book concludes with a ten-step process to help executives and managers find and leverage the edges in their own companies. Edge Strategy is the concise, hands-on guide for growing your business by getting more yield from assets already in place, relationships already established, and investments already made. |
| account management growth strategy: ADKAR Jeff Hiatt, 2006 In his first complete text on the ADKAR model, Jeff Hiatt explains the origin of the model and explores what drives each building block of ADKAR. Learn how to build awareness, create desire, develop knowledge, foster ability and reinforce changes in your organization. The ADKAR Model is changing how we think about managing the people side of change, and provides a powerful foundation to help you succeed at change. |
| account management growth strategy: Account Management Ken Langdon, 2004-01-16 The sales function is the front-line of any business. Keeping up with the latest sales techniques is essential, as well as ensuring you have a motivated, incentivised and focused sales team well-versed in the basics of selling, from identifying new prospects and getting repeat business to closing the deal. This module gives essential insight into all the key sales drivers such as account management, handling complex sales, selling services, FMCG selling, customer relationships and self-development for sales people. |
| account management growth strategy: Essential Account Planning Mark Donnolo, 2017-05-23 Sales growth starts with planning Sales accounts are harder than ever to win, let alone keep. Globalization, cloud computing, and crowdsourcing create a marketplace where any account can be lured away by a hungry startup. And the face-time advantage? Forget it. Today's high-quality sale will likely involve six or more decision makers. That's why it's time to get strategic about how sales teams frame their approach. In Essential Account Planning, sales enablement expert Mark Donnolo blends his years of experience with expert interviews and stories to show you how planning can reliably drive revenue. His five-point framework will prepare you to address the arguments you're certain to hear against account planning, such as lack of commitment, ownership, and time. Each sales organization is unique, but most have similar challenges and succeed using common principles. And chances are, sales reps in your company already perform many of these account planning tasks, albeit on the fly or independent of others. This book's ready-to-use tools and templates will help you get everyone on the same page to deliver immediate results. In this book, you'll learn how to: Develop a consistent account plan structure. Create the habits and culture of an ongoing planning process. Navigate the politics that impede information sharing. Many salespeople believe that more selling creates more sales, but the salespeople who invest in account planning become the true sales leaders. Use Essential Account Planning to bring stability to your sales organization and start seeing the rewards of planning today! |
| account management growth strategy: Global Account Management Peter Cheverton, 2008-01-03 Global Account Management explains the significant challenges of establishing a global account strategy and guides you through the process of decisions and actions required to manage global accounts successfully. The book provides a thorough, workmanlike template for all businesses with global clients. It shows you the issues you need to consider from the point of view of both your customers and your company's internal structure. Author Peter Cheverton - an expert practitioner and teacher of account management - highlights the difference between an international company operating in different markets and one that can be considered as truly global. He reveals that, to operate accounts globally, you need to understand whether your client has consistent needs across different countries; possesses a global operational structure; and has the ability to implement global decisions. He then details the factors critical to your successful handling of a global account. The implications of making the wrong decisions in a global marketplace are enormous - Global Account Management gives you the information and insight you need to establish the best long-term relationships with your biggest clients, and - most importantly of all - secure the future success of your company. Global Account Management is an essential guide for business directors, sales and marketing directors, and global account managers. |
| account management growth strategy: The Secrets of Successful Strategic Account Management Richard Santucci, David Hughes, 2022-04-25 Richard Santucci and David Hughes leverage their combined fifty plus years of experience in industrial sales in this guide that reveals how to take care of your most important customers. The Secrets of Successful Strategic Account Management begins by highlighting why companies must establish a strategic account program. The authors then lay out an easy-to-follow process to build such a program. The guide presents in layman’s terms a successful and proven process to enhance sales at twice a company’s average growth rate through strategic account management techniques. Learn how to: • identify strategic accounts; • select effective strategic account managers; • build out a team focused on bolstering business; • avoid common mistakes that cut into profits. Join the authors on a journey focused on boosting revenue growth and profitability, preventing losses, and converting customers into valued partners through strategic account management. “Santucci and Hughes have done a great job of laying out a playbook for developing a robust strategic account program, with some great tools and templates that will help the reader develop their own program.” —Naren Gursahaney, Non-Executive Chair of the Board-Terminix “The Secrets of Successful Strategic Account Management is the perfect blend of theory and implementation to guide your company in building strategic account management capabilities. Santucci and Hughes deliver insight and practical tips drawing upon their years of sales leadership. A superb handbook for corporate executives.” —Christopher Stevens-CEO, Unibloc-Pump, LLC |
| account management growth strategy: Ten Years to Midnight Blair H. Sheppard, 2020-08-04 “Shows how humans have brought us to the brink and how humanity can find solutions. I urge people to read with humility and the daring to act.” —Harpal Singh, former Chair, Save the Children, India, and former Vice Chair, Save the Children International In conversations with people all over the world, from government officials and business leaders to taxi drivers and schoolteachers, Blair Sheppard, global leader for strategy and leadership at PwC, discovered they all had surprisingly similar concerns. In this prescient and pragmatic book, he and his team sum up these concerns in what they call the ADAPT framework: Asymmetry of wealth; Disruption wrought by the unexpected and often problematic consequences of technology; Age disparities--stresses caused by very young or very old populations in developed and emerging countries; Polarization as a symptom of the breakdown in global and national consensus; and loss of Trust in the institutions that underpin and stabilize society. These concerns are in turn precipitating four crises: a crisis of prosperity, a crisis of technology, a crisis of institutional legitimacy, and a crisis of leadership. Sheppard and his team analyze the complex roots of these crises--but they also offer solutions, albeit often seemingly counterintuitive ones. For example, in an era of globalization, we need to place a much greater emphasis on developing self-sustaining local economies. And as technology permeates our lives, we need computer scientists and engineers conversant with sociology and psychology and poets who can code. The authors argue persuasively that we have only a decade to make headway on these problems. But if we tackle them now, thoughtfully, imaginatively, creatively, and energetically, in ten years we could be looking at a dawn instead of darkness. |
| account management growth strategy: Account Management Exam Prep Cybellium, Welcome to the forefront of knowledge with Cybellium, your trusted partner in mastering the cuttign-edge fields of IT, Artificial Intelligence, Cyber Security, Business, Economics and Science. Designed for professionals, students, and enthusiasts alike, our comprehensive books empower you to stay ahead in a rapidly evolving digital world. * Expert Insights: Our books provide deep, actionable insights that bridge the gap between theory and practical application. * Up-to-Date Content: Stay current with the latest advancements, trends, and best practices in IT, Al, Cybersecurity, Business, Economics and Science. Each guide is regularly updated to reflect the newest developments and challenges. * Comprehensive Coverage: Whether you're a beginner or an advanced learner, Cybellium books cover a wide range of topics, from foundational principles to specialized knowledge, tailored to your level of expertise. Become part of a global network of learners and professionals who trust Cybellium to guide their educational journey. www.cybellium.com |
| account management growth strategy: The New Successful Large Account Management Robert B. Miller, Stephen E. Heiman, Tad Tuleja, 2006 With limited resources and increasing competition, managing strategic accounts requires a focused strategy, plan, and process. Developed collaboratively with world-class sales forces, the Large Account Management Process provides an enduring framework for protecting and growing your most important customer relationships.- Damon Jones, COO, Miller Heiman, Inc.The Large Account Management Process has implemented a discipline that allows people to work together and communicate, setting strategies and sales goals that benefit both our customers and our own company.- Joseph L Cash, senior vice president of sales, Equifax CorporationMiller Heiman's Large Account Management Process delivers a disciplined process for gathering the information required to really understand the trends impacting our largest clients. This critical information defines the strategies that provide long-term customer value and drive consistently superior business results.- Paul Wichman, vice president and senior division sales manager, Schwab Institution'The New Successful Large Account Management' now in its third edition, is thoroughly revised and updated and takes into consideration recent changes in the industry. This hard-hitting and no-nonsense book advises you how to best manage your most important business accounts. The authors of the best-selling books The New Strategic Selling and The New Conceptual Selling provide comprehensive and practical lessons that will help you to protect and improve your most crucial customer relationships. By following their clearly definied and dynamic approach to the account planning process, you will learn how to devise a strategic action plan to manage your key accounts; manage them effectively and profitably; build long term client relationships; climb ahead of competitors and move your relationship up the buy-sell hierarchy. Whatever business you're in, this excellent book shows you how to protect those crucial accounts that you can't afford to lose. |
| account management growth strategy: The Improv Mindset: Change Your Brain. Change Your Business. Gail Montgomery, Bruce T. Montgomery, 2020-01-14 Some content previously published as Brain Disruption by Bruce & Gail Montgomery. Looking for new ideas? Need your teams to perform at a higher level? Want a healthy corporate culture? Follow along with these two dynamic authors as they take you through The Improv Mindset, one of the most engaging and powerful methods for getting individuals, teams, and organizations to step up, engage, and solve problems. Steeped in the world of improv comedy, this no-nonsense guide provides a window into the neuroscience behind creativity and new ways of thinking. Filled with exercises and activities, you'll be able immediately apply the lessons in this book. |
| account management growth strategy: Sales Growth McKinsey & Company Inc., Thomas Baumgartner, Homayoun Hatami, Maria Valdivieso de Uster, 2016-04-08 The challenges facing today's sales executives and their organizations continue to grow, but so do the expectations that they will find ways to overcome them and drive consistent sales growth. There are no simple solutions to this situation, but in this thoroughly updated Second Edition of Sales Growth, experts from McKinsey & Company build on their practical blueprint for achieving this goal and explore what world-class sales executives are doing right now to find growth and capture it—as well as how they are creating the capabilities to keep growing in the future. Based on discussions with more than 200 of today's most successful global sales leaders from a wide array of organizations and industries, Sales Growth puts the experiences of these professionals in perspective and offers real-life examples of how they've overcome the challenges encountered in the quest for growth. The book, broken down into five overarching strategies for successful sales growth, shares valuable lessons on everything from how to beat the competition by looking forward, to turning deep insights into simple messages for the front line. Page by page, you'll learn how sales executives are digging deeper than ever to find untapped growth, maximizing emerging markets opportunities, and powering growth through digital sales. You'll also discover what it takes to find big growth in big data, develop the right sales DNA in your organization, and improve channel performance. Three new chapters look at why presales deserve more attention, how to get the most out of marketing, and how technology and outsourcing could entirely reshape the sales function. Twenty new standalone interviews have been added to those from the first edition, so there are now in-depth insights from sales leaders at Adidas, Alcoa, Allianz, American Express, BMW, Cargill, Caterpillar, Cisco, Coca-Cola Enterprises, Deutsche Bank, EMC, Essent, Google, Grainger, Hewlett Packard Enterprise, Intesa Sanpaolo, Itaú Unibanco, Lattice Engines, Mars, Merck, Nissan, P&G, Pioneer Hi-Bred, Salesforce, Samsung, Schneider Electric, Siemens, SWIFT, UPS, VimpelCom, Vodafone, and Würth. Their stories, as well as numerous case studies, touch on some of the most essential elements of sales, from adapting channels to meet changing customer needs to optimizing sales operations and technology, developing sales talent and capabilities, and effectively leading the way to sales growth. Engaging and informative, this timely book details proven approaches to tangible top-line growth and an improved bottom line. Created specifically for sales executives, it will put you in a better position to drive sales growth in today's competitive market. |
| account management growth strategy: Successful Key Account Management In A Week Grant Stewart, 2012-03-30 Key account management just got easier 'This little book is a real gem' Professor Malcolm McDonald Key account management is increasingly important and must keep pace with its customers as they continually develop and evolve, often resulting in increasingly sophisticated buying structures. The key account manager therefore requires a wide variety of skills in order to be successful; this is not only an important job role in its own right, it is often a stepping stone to career development, leading to more senior management jobs. Successful Key Account Management In A Week is a week long course. On Sunday you are encouraged to Know your customer as success depends on a relationship that is both rewarding and valuable. On Monday you will Analyse your growth opportunities. The competitiveness of the company must be appraised to enable the identification of sales growth opportunities and all major accounts should be compared in appeal and position to give an indication of the strategy to be adopted for customers. On Tuesday you will Measure profits by account. You will be shown how to measure the profitability of major customers and to draw up league tables to enable profit improvement strategies. On Wednesday you will Plan for success, building on the analysis of growth opportunities and profit measurement already considered, to result in a best judgement final plan. On Thursday you will learn to Negotiate to win-win; success relies on understanding the difference between negotiation and selling and being able to conduct negotiations to produce a win-win situation in which the objectives of both sides are considered. On Friday you will look at Control activity levels and the monitoring of standards of performance to enable the presentation of plans and progress, allowing the measurement of success against these plans. And finally, on Saturday you are reminded to Manage relationships with an introduction to the Relationship Model which describes how business with a customer changes as it moves from a transactional or short-term sales achievement, to collaboration with long-term customer value and retention. 'This little book is a real gem, which you should read, use and keep handy for continuous reference. If you follow the straightforward guidelines in this book, your company's future is assured' Professor Malcolm McDonald, Former Professor of Marketing and Deputy Director, Cranfield University School of Management |
| account management growth strategy: Breakout Strategy: Meeting the Challenge of Double-Digit Growth Sydney Finkelstein, Charles Harvey, Thomas Lawton, 2006-11-14 Companies that purposefully set out to excel are remarkably few and far between. The number of those who have a strong, well-thought out strategy for success are even fewer. Based on five years of research and field-testing, Breakout Strategy gives you a “fast track” strategic vision that can push your company to incredible new rates of growth and expansion. Strategy and leadership experts Sydney Finkelstein, Charles Harvey, and Thomas Lawton show how to craft a strategy that fits your business, whether you're a small start-up or an established national or international company. They also give you the tools to adapt that strategy as you grow and expand. Their system features five key initiatives: Create a workable vision by understanding the needs and aspirations of a company Face customers with a value proposition that covers all the important bases Align what a business does with what the customer truly desires Balance the people and process sides of business to deliver on promises Liberate the energies of any strategy's toughest critic-those who work within the business Breakout Strategy puts these initiatives in context by examining how diverse companies achieved breakout growth, including jetBlue, Harley Davidson, and Starbucks. It also sheds light on how a poor strategy can topple a once-successful company off the pedestal of market dominance, such as Krispy Kreme's overly ambitious expansion strategy that stretched the company and the brand too thin. With the systematic approach in Breakout Strategy, you'll be able to travel the fast track to market triumph, leaving your competitors struggling to catch up. |
| account management growth strategy: Management Accounting in Support of Strategy Graham S. Pitcher, 2018-05-16 Management Accounting in Support of Strategy explores how management accounting can support the strategic management process of analysis, formulation, implementation, evaluation, monitoring, and control. If the management accountant is to add value to the business they need to understand how the business works. The toolbox available to the management accountant does not just contain the accounting techniques, but also includes the strategy models and frameworks described in this book. Armed with this array of tools the management accountant is well placed to add significant value to the business. The reader will gain an understanding of the strategic management framework, strategic models and tools, and how management accounting can support the strategic management process. It will be beneficial for undergraduate and postgraduate course students studying strategy or management accounting. The book will also enable practicing accountants to understand how they can make a significant contribution to the success of their organization by demonstrating how management accounting can be used in support of strategy. |
| account management growth strategy: Product and Services Management George Avlonitis, Paulina Papastathopoulou, 2006-04-11 `A text that successfully bridges the gap between academic theorizing and practitioner applicability because it uses multiple real-world examples/mini-cases of management techniques to illustrate the well-researched academic theoretical foundations of the book′ - Creativity and Innovation Management `A complete and useful treatment of the domain of product and service decisions. This book is unique in its treatment, dealing with product and service portfolio evaluation, new product/service development and product/service elimination in an integrated manner. Enlivened by many mini-cases, the book provides a soup-to-nuts approach that will prove very attractive for students and be a valuable reference for managers as well. Highly recommended′ - Gary L Lilien, Distinguished Research Professor of Management Science, Penn State University `Product and Services Management (PSM) is a welcome, up to date summary of the key issues facing firms in developing and refreshing their portfolios. The examples and cases bring the academic arguments clearly into focus and demonstrate the crucial role of PSM in leading the overall strategy of the firm′ - Professor Graham Hooley, Senior Pro-Vice-Chancellor, Aston University, Birmingham `Managers responsible for and students interested in product portfolio decisions previously had to consult several sources for obtaining up-to-date information; books on new product development, articles on service development, readers on product management, and frameworks for product evaluation and termination. With the book Product and Services Management the reader obtains four-in-one. Avlonitis and Papastathopoulou reveal in a compelling and comprehensive manner why product decisions are the cornerstone of modern marketing and business, and illustrate the theory with numerous mini-cases from Europe and elsewhere. A must read for everyone with a passion for products′ - Dr Erik Jan Hultink, Professor of New Product Marketing, Delft University of Technology This book provides a holistic approach to the study of product and services management. It looks at the key milestones within a product′s or service life cycle and considers in detail three crucial areas within product management, namely product/service portfolio evaluation, new product/service development and product/service elimination. Based on research conducted in Europe and North America, this book includes revealing cases studies that will help students make important connections between theory and practice. The pedagogical features provided in each chapter include chapter introduction, summary, questions and a further reading section. Additional material for instructors include PowerPoint slides and indicative answers to each chapter′s questions. This book is written for undergraduate and postgraduate students of business administration who are pursuing courses in marketing, product portfolio management, new product development and product policy. |
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