The analysis of opportunities of introduction and development of key account management system in Latvian companies
The analysis of opportunities of introduction and development of key account management system in Latvian companies

Summary/Abstract: In the article, the authors consider the essence of key account management system, analyze its role in the development of companies in B2B market. The authors emphasize the role of client needs-oriented thinking and action as one of the most significant factors of competitiveness, highlighting the recognition of several client aspects by a company. The authors actualize the role of client satisfaction in B2B market and its evaluation possibilities, taking into account attitude and attention development factor, therefore setting the task of dividing clients in categories and their classification necessity, depending on clients’ contribution to the achievement of company’s performance results. The authors highlight the mentioned aspects in the context of clients’ attraction strategies as client value improvement and the source of company value. The growing importance of key account management as client servicing conception is actualized in the article; its main objective – to provide a long-term cooperation and mutual and successful market development is emphasized. In the context of the conception contents the authors describe its development, advantages and opportunities for the companies as well as the correlation between the conception achievements and partners’ cooperation relations. The role of key account management strategy in the company and client relations is highlighted; the main objectives and tools to implement them are emphasized. In relation with the present development stage regularities, the authors point to various internal and external aspects that influence key account management process. Several problems of objective and subjective nature, related to key account management introduction in the company, are revealed. In the context of key account management system, the authors ground its importance in Latvia nowadays. In order to evaluate the opportunities of introduction and development of key account management system in Latvian companies as well as the problems related to this process, the authors have interrogated 409 marketing specialists of Latvian companies. Based on clients’ parameters, the authors have composed their importance rating for successful company operation in B2B market, evaluated client information necessity and grounded the strategic importance of information in B2B and B2C market that corresponds to basic principles of marketing. The authors have made conclusions on the role the analysis of each client contribution to the company’s total net revenues and emphasize the parameters as the base for decision taking in the companies that develop/plan to introduce key account management system. As the result, the authors have determined the conditions of efficient introduction and development of key account management system and developed according proposals to Latvian companies.

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