Key account management in financial services: An outline research agenda
- PDF / 121,152 Bytes
- 10 Pages / 595 x 765 pts Page_size
- 36 Downloads / 192 Views
Tim Hughes is Senior Lecturer at Bristol Business School. He previously held senior marketing positions in blue chip consumer goods and financial services companies and worked as a consultant. His PhD research was concerned with the impact of e-comerce on financial services organisations. He has authored a number of papers on this subject.
Bryan Foss is Worldwide Banking Solutions Executive at IBM Global Financial Services, providing application-based customer insight and customer management solutions for banks and financial services companies. He is acknowledged worldwide as an expert in financial services channel management and has co-authored many books and papers on these topics.
Merlin Stone is Business Research Leader, Business Consulting Services, IBM Professor of Relationship Marketing, Bristol Business School, He is also a Director of The Database Group Ltd, QCi Ltd and The Halo Works Ltd.
Peter Cheverton is Director of Insight Marketing and People Ltd, the international training and consultancy firm. He is the author of books on key account management and key marketing skills.
Abstract The forces of deregulation and technological development have created a highly competitive environment in financial services. Despite the quest for business-tobusiness service efficiency, most financial services companies know that they must not lose sight of the importance of relationship quality. As a result, there is growing interest in key account management (KAM) in these companies. Research on KAM in general is limited and little has been undertaken in financial services. There are several reasons why KAM practice in financial services may be distinctive: the regulatory environment; the sector’s size and diversity; the high degree of intermediation; product diversity and complexity; uncertainty of product performance; the problem of measuring profitability; the challenges of interactive marketing using both traditional face-to-face and complementary direct marketing techniques; and the role of technology in delivery. A research agenda for KAM in financial services is proposed. It is argued that more knowledge in this area would be of benefit to customer relationship management (CRM) research and to practising managers implementing KAM. Keywords Key account management, financial services, customer relationship management
Tim Hughes Bristol Business School, University of the West of England, Frenchay Campus, Coldharbour Lane, Bristol BS16 1QY, UK Tel: +44(0)117 344 3400; E-mail: [email protected]
184
INTRODUCTION Key account management (KAM) is becoming an important issue for many financial services providers. This has stimulated the authors to write a book on
Journal of Financial Services Marketing
Vol. 9, 2 184–193
the subject.1 There is, however, little research on the practice of KAM in the financial services sector. This paper examines business-to-business (B2B) financial services and outlines the forces that influence the sector and affect the
# Henry Stewart Publications 1479–1846 (2004)
Key account management in fina
Data Loading...
