Running head: DEVELOPING STRATEGIC RELATIONSHIPS WITH MAJORCUSTOMERSDEVELOPING STRATEGIC RELATIONSHIPS WITH MAJOR CUSTOMERSName of the StudentName of the UniversityAuthor note
1DEVELOPING STRATEGIC RELATIONSHIPS WITH MAJOR CUSTOMERSTable of ContentsTask 2................................................................................................................................1List of Customers that fulfill criteria for Major Customer...........................................1Analysis of Major customer’s business........................................................................1Analysis of Corporate Business and Marketing Strategy for Major Customer............1Analysis of current and future strategic and operational business challenges..............2List of common business objectives.............................................................................2Strategic options that will enable achievement of the common business objectives....2Relevant actions............................................................................................................3Task 3................................................................................................................................3Briefing Paper...................................................................................................................3Expertise Required by Sales Team...............................................................................3Coordination of Business Functions.............................................................................3Opportunities for Creating Long Term Value with Major Customers..........................4Methods of Reducing Risk of major customer’s own products and services...............4Task 4................................................................................................................................4Ways to evaluate the outcomes of Activities................................................................4Plan to address issues....................................................................................................5Succession Plan for maintaining Relationship with Customer.....................................5Evaluation of systems for storing customer information..............................................5References.........................................................................................................................6
2DEVELOPING STRATEGIC RELATIONSHIPS WITH MAJOR CUSTOMERS
3DEVELOPING STRATEGIC RELATIONSHIPS WITH MAJOR CUSTOMERSTask 2List of Customers that fulfill criteria for Major CustomerDepending on the segmentation of the customers and the portfolio it can be said thatcustomers in the organization are classified in various way such as postcode, contractvalue, contract volume and frequency (Piercy, 2002). The customers that can be a partof the major customers of the business by fulfilling the designed criteria are:Customers that engage in a positive and frequent manners with the suppliersCustomers that are assertive in natureCustomers that always have a last minute requirement and needs attentionCustomers that are structured and formalCustomers that are open to new idea and has collaborative approachAnalysis of Major customer’s business The major customer’s business can be analyzed based on the details about theiroperations. The most important major customer’s business in this case will be theopening and management of key accounts which is very different from other accounts.The business from major customers to the organization will come from loyalty thecustomer holds by offering them their needs and exceeding their expectations (Porter,1980). This will have a significant impact on profit level and customer retention. Analysis of Corporate Business and Marketing Strategy for Major CustomerThe corporate business of major customers in the organization include entering into acontract, borrowing or lending money, opening key accounts and others. The more thepotential key accounts opened by a major customers the more business or profit theywill give. The major customer’s marketing strategy includes indulging into market
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