Abstract:
Purpose: The purpose of the research is to determine what Key Account
Management is and how its implementation affects the performance of the
organizations. How important this concept is, what are the benefits earned by the
organizations after this and for all this 6 service sector companies are chosen from
Pakistan’s Market and 50 key accounts of the 6 companies. The research will
conclude the scenario of Pakistan's service industry with reference to KAM
system.
Methodology: The study involved use of questionnaires filled by 60 key account
companies and 6 companies who are practicing key account management system
along with the interviews. To analyze the data, MS office and regression through
SPSS were applied. The analysis of descriptive data is done by interpreting the
responses in general words for the easy understanding.
Findings: The analysis and comparative results explains the understanding of Key
Account Management by the local banking sector companies in Pakistan and it
also suggested that companies are getting higher sales, increase in retention ratio
of the key clients, increase in satisfaction level of the clientele and improvement in
the services; by implementing the KAM system. The benefits and the additional
services provided by the key accounts were also identified.
Practical Implications: The outcomes of the research might help the companies in
understanding their KAM practices in a better way and how to resolve the issues
the key accounts are still facing. It will also help the other companies who are in
the race of implementing this concept in their organizations.
