University Customer Account Development Report: Business Strategies

This report examines the critical aspects of customer account development, beginning with an in-depth analysis of customer buying practices, including organizational and personal influences, choice criteria, and preferred supplier status. It then delves into customer support issues, emphasizing product specifications and the value of technical support. The report also addresses the organization's unique business value, activity plans, and ability to meet customer requirements. Furthermore, it covers preparing for customer procurement, including maintaining industry knowledge, influencing supplier selection, and assessing customer attractiveness. Finally, the report concludes with strategies for developing and planning customer accounts, including tactics for achieving preferred supplier status and evaluating current accounts. The report highlights the importance of understanding customer needs and adapting business strategies to ensure customer satisfaction and business expansion. The report also discusses the importance of supplier selection and the need for organizations to have special activity plans to make unique business models.

Understanding and developing customer accounts
NAME OF THE STUDENT
NAME OF THE UNIVERSITY
AUTHOR’S NOTE

Table of Contents
Introduction:................................................................................................................................................2
1. Understand buying practices of customers..............................................................................................2
1.1 Evaluation the organizational and personal influences of decision making unit on buying practices 2
1.2 Choice criteria of customers and how such criteria affects sales.......................................................2
1.3 preferred supplier status:....................................................................................................................3
1.4 Identify buying practices used by organizations................................................................................3
1.5 Evaluate measures of quality relating to buying and accredited quality programmers.......................4
1.6 Identify capability and capacity assessments customers undertake on potential suppliers.................4
2. Understand customer support issues....................................................................................................5
2.1 organizations develop product or service specifications for buying purposes:...................................5
2.2 Technical and resource support provided by own organization adds value for the customer.............5
2.3 Evaluate competitive practices relating to the decision making process............................................5
3. Understand own organization’s unique business value........................................................................6
1.1 Evaluate own organization’s activity plans in relation to customers............................................6
3.2 organization’s ability to respond to customer buying requirements...................................................6
4. able to prepare for customer procurement...........................................................................................6
4.1 Explain how to maintain and update own knowledge of customers’ industry sectors........................6
4.2 organization can influence the criteria customers use to select suppliers...........................................7
4.3 attractiveness and compatibility of the customer to own organization...............................................7
4.4 Existing suppliers of customers and conduct a competitor analysis to identify own organization’s
strengths and weaknesses........................................................................................................................7
4.5 strategies for achieving preferred supplier status...............................................................................7
4.6 Evaluate existing contracts between competitors and the customer...................................................8
4.7 organization’s contractual practices relating to determining supply terms and conditions.................8
5. Use information gathered to plan to develop customer accounts.........................................................8

5.1 tactics which could be utilized to achieve the strategies in developing and winning new accounts...8
5.2 The importance of ongoing evaluation and monitoring of own current customer accounts...............8
5.3 Evaluate own current customer accounts...........................................................................................9
5.4 Use information gathered to plan to develop current and new accounts............................................9
Conclusion:..................................................................................................................................................9

Introduction:
The research article present for developing customer account for business survival and
expansion. The business organization will survive only, if there are accurate interaction with
customer and supplier of customer. The organization should ensure customer issues and provide
satisfactory result. So, customer interaction is key aspect of business development. The research
article discusses different aspect of customer account developing.
1. Understand buying practices of customers
1.1 Evaluation the organizational and personal influences of decision making unit on
buying practices
The organization attract customer in order to buy product, so there are significant element
influence of decision making unit on buying practices such as economic factor, functional factor,
marketing mix factors, personal factors , psychological factor, social factor and cultural factor.
These are factors affect the decision making unit. That is also considering the buying decision,
contact discovery, sales service and account profiting Jayabalan, V. (2009).
1.2 Choice criteria of customers and how such criteria affects sales
Product or service price: this is important factor of selection of product that needs to buy or
not. The customer always ensures that price of product will economic according to brand, quality
and service. So, the product price is important factor for customer’s selection criteria.
Life-style and appearance: the customer is influence by those product or service which is
match with life style and personal choice. The potential customers prefer selected choice and
specific criteria.
Quality: the customer purchases that product which must durable, economic and good quality.
The product quality is equal priority for product selection. These criteria will decide product
cost, target audience, marketing tactic etc. The product price, quality, marketing, potential
customer interest needs to consider while preparing product and that affect the cost of product,
that can be chain of sales and affect customer selection.

1.3 preferred supplier status:
The preferred supplier status is review with an absence of sufficient procurement resource and
requires arranging resource according to professional contract from supplier. The company aim
is to supply continuous resource in order to keep balance inventory. The procurement service
suggests on the use of those suppliers and guide for the variety of contract available in market
and suggest the selection of supplier and methodology for selection Salcedo, M. (2017).
The effective review from preferred supplied contain significance evidence such as “the
organization should consistence and concise about product, supplier communication, inventory
control”. Additionally, the organization should approach multiple suppliers at one time in order
to survive in competitive market. The marketing or sales department ensures that supplier must
working on require product area Jayabalan, V. (2009).
1.4 Identify buying practices used by organizations
The sales department is not looking for large organization that must be challenging for business.
In order to enhance business, the organization should identify purchase practice which saves
money and time.
 Develop centralized supplier datasheet: that will save time and reduce work load
for each database need separately. That will avoid the duplicate copies, entries and
similar database for each department. There are noticeable advantages such as
evaluation of supplier, reduction in frequent order to vendor, guidelines for buyer
decision making Kanev, S. (2018).
 Maximum incentive to supplier:
.1 The organization have fixed budget, therefore it is require standard practice to deal
with vendor and build financial contract. Many supplier offer rebates or discount for
bulk inventory. The sales department should maximize budget saving offered by
vendors Ganatra, A. (2015). Apart from discussed point, the organization should
hire professional purchaser, enhance purchasing technology and maximize supply
chain system.

1.5 Evaluate measures of quality relating to buying and accredited quality programmers
The purchase department ensure the resource and inventory receive from supplied must
be according to standard quality. the quality department and quality inspector check each
product or sample by standard method and visual inspection. There are standard quality
methods that enhance quality program van Tonder, C. (2011).
 Cost of quality: that provide guidelines of actual cost of production, selling and
services, it is equivalent cost if there are no failure occur during manufacturing.
 Total quality management: this is planning and controlling technique which ensure
product and procedure must meet with customer requirement.
 Kaizen: this is process of employee’s encouragement in order to reduce wastage of
time and productivity Walters, D. (2009). The organization can achieve ultimate goal
from this method.
1.6 Identify capability and capacity assessments customers undertake on potential
suppliers
The assessment of potential suppliers needs to ensure significance evidence, these are elaborate
as following:
 Competency: ensure the capability of supplier i.e. supplier ability needs to ensure
against customer requirement.
 Capability: ensure that supplier have sufficient resource, manpower and instrument
that satisfied company requirement as per customer satisfaction.
 Commitment: the sales department ensures that resource dispatch timely from
supplier and receives organization. The quality of product should according to ISO
9001.
 Control: ensure that supply chain management tactics, process and procurement
procedure.
 Cost: compare cost of product with other supplier. Which kind of quality provide
with consideration cost. Is this economic as per price of product?

2. Understand customer support issues
2.1 organizations develop product or service specifications for buying purposes:
The product specification should declare cost of product, quality certificate or symbol on product
or services. Additionally, the product specification requires the weight of product, safety feature,
size, quantity performance parameters etc. Available at difference location of product,
government tax percentage etc. the operation manual, if complex product operation, safety
feature and instrument used while using particular product. In case, organization provide food
product that should contain ingredient of food Khajuria, A. (2012).
2.2 Technical and resource support provided by own organization adds value for the
customer
The marketing department is always looking for customer need, priority and interest. In order
to attract and aware about product to potential customer, the technical feature useful to enhance
business and add value for customer Casullo, D. (2011). The digital marketing, social media,
online services can connect customer directly and company ensure the specific group of people
need from product. Apart from this, the business expertise suggests to add value for customer by
considering customer perspective for product preparation and manufacturing. Continuous
improvement and consistency work to improve customer satisfaction. Develop and implement
new marketing model in current business strategy. Build memorable customer experience which
make remember after product purchase and they suggest to their groups and family members.
2.3 Evaluate competitive practices relating to the decision making process
The decision making process is not influence by competitor or other elements; it should be wise
decision in order to survive in competitive market and ensure business may not move in wrong
direction. It is require highlighting key feature of product and that should different from current
market product. In order to ensure customer priority and reduce customer product, the company
evaluate value chain in order to find strengths and weakness about product and business tactics.
Assessment the effectiveness by value chain to ensure deliver key product to market. Use value
chain effectiveness data to create competitive benefits Bhattacharjee, M. (2018).

3. Understand own organization’s unique business value
1.1 Evaluate own organization’s activity plans in relation to customers
In order to provide uniqueness for business model and enhance business activity, the
organization must have special activity plan which ensure customer requirement and demand.
The organization ensure following key points to make unique business model Casullo, D.
(2011). .
 Evaluate uniqueness of specific tasks : brainstorming by business owner and key
employees in order to short out specific task that ensure customer requirement and
helping to make strong relationship with customer.
 Evaluate and justify priority of tasks: there are specific order which ensure work flow of
assign task
 Arrange time table: create work-breakdown structure.
 Remove distractions: remove potential distraction such as personal phone calls,
massages, internet surfing etc.
3.2 organization’s ability to respond to customer buying requirements
The product promotion and selling enhancement depends on customer choice, life-style, and
attraction, key feature of product and person selection. The organization can respond to customer
and influence to buy product, the company needs to establish marketing campaigns, needs to
assess economic condition of market and customer budget, person choice and selection criteria,
group influences and influence power Bernecker, S. (2014).
4. able to prepare for customer procurement
4.1 Explain how to maintain and update own knowledge of customers’ industry sectors
The customer service requires detail knowledge for product or service. To maintain and keep
update for customer requirement, the business organization should connect with different sources
such as marketing media, social media, communication channel, business network, competitive
business of similar product, their strength and weakness for business point of view etc. it is also
maintain by personal business network, research for latest technology and innovation related to

product and most recent attraction feature for customers. These are significant feature that can
helps to update knowledge of customer’s industry sectors Bhattacharjee, M. (2018).
4.2 organization can influence the criteria customers use to select suppliers
To expand business and establish uniqueness in business environment, the organization needs to
develop buying criteria that influence customer to select suppliers. The business tactic require
to establish discount offer, ensure service and reliability for specific time duration, develop
brand image and brand name, ensure product placement at customer location within specific
range, ensure best procurement service and reliability, cost and quality of product compare to
competitive business model, develop reputation toward customer.
4.3 attractiveness and compatibility of the customer to own organization
In order to attract customer toward product, there are significant key parameters which make
attractiveness and compatibility of the customer. The key parameters include the customer
market position, company policy and strategy toward customer attraction, customer group and
segment, profit margin of individual product, allowable discount from each product, expected
revenue and cost to serve. Apart from this the marketing strategy, product launching procedure,
customer interest and interaction, group of people use company product may affect the
attractiveness and compatibility of the customer to own organization Bernecker, S. (2014).
4.4 Existing suppliers of customers and conduct a competitor analysis to identify own
organization’s strengths and weaknesses
Strength Weakness
 Have considerable return customer
 Customer reliability and satisfaction
 Business expansion and customer
priority.
 Do not engage with market.
 Failed to achieve huge crowd of
customer.
 Poor response from customer
Opportunities Threats
 Take advantage to expand business and  Social media and communication

collect more customer as much as
possible
 Collect local customer
channel for poor response of customer.
4.5 strategies for achieving preferred supplier status
The company has to make professional person relation with supplier in order to strong relation
with vendor. The company can get desirable service, in case strong relationship with vendor, it is
beneficial for organization. The vendor development department use computer tools and
technology to enhance efficient management. Through computer software, it is easy to track
record and keep update about require information. This will helpful to track purchase order from
supplier and balance for resource. The company needs establish strong relationship with
agreement and documentation that make stronger relationship. That wills helps to achieve
preferred supplier status.
4.6 Evaluate existing contracts between competitors and the customer
In order to connect customer from competitors, it is require connecting with prospect and look
after correct decision maker which should be right away for the specific deal. The marketing
department requires finding opportunity several times to cover huge crowd of customer from
competitor. Provide customer satisfactory product and ensure customer satisfied with services.
4.7 organization’s contractual practices relating to determining supply terms and
conditions
The supplier performance measure by understanding contract terms and conditions that include,
retention, detail of contract termination, liquidated damages, balance sheet, performance index,
management information etc. require to evaluate and determine the supply terms and conditions.

5. Use information gathered to plan to develop customer accounts
5.1 tactics which could be utilized to achieve the strategies in developing and winning new
accounts
There are significance evidence which helps to achieve the strategic developing and winning
new account. Those are understand behavior of customer, incentivize existing customers, large
networking, expansion of different marketing channels, secure high quality public and person
relationship with customer, explore different pricing strategy Bernecker, S. (2014).
5.2 The importance of ongoing evaluation and monitoring of own current customer
accounts
 Listen carefully to customer need.
 Collect all feedback
 Ask customer what they think about product and recommendation
 Quality monitoring to improve skills.
5.3 Evaluate own current customer accounts
 Collect key factor of customer.
 Collect real-time behavior of customers.
 Record each customer service and feedback.
 Personal test and preference.
 Referral source.
 Implement as per requirement.
5.4 Use information gathered to plan to develop current and new accounts
 Collect personal data correctly and provide reason for collecting data.
 Use computer technology to store and record data as well as information.
 Collect financial and legal information for new account.

Conclusion:
The research article is elaborate interaction between customer and organization evolution for
business expansion point of view. The article demonstrate the supplier evaluation, interaction
and important for business development point of view.
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