Increasing customer loyalty with Key Account Management in the automotive sector from the view of a subcontractor

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GRIN Verlag, May 13, 2008 - Business & Economics - 19 pages
Seminar paper from the year 2008 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 2,0, University of Applied Sciences Essen, course: Marketing, 20 entries in the bibliography, language: English, abstract: As the demand of automotive OEMs increase, subcontractors have to develop new strategies and practises that help them to keep their customers loyal. Key Account Management is such a strategy, that subcontractors can use to build up their long-term relationships to their customers. A KAM can be a win-win situation for both sides, the customer and the subcontractor. Relationship marketing is considered to be today’s new marketing standard which is destined to replace the old and dominating “4Ps”. The target of KAM should be to reach a feeling of partnership at their OEMs. This increases customer loyalty and results in sales for long-lasting periods, which is very important for subcontractors to stay inside the global competitive market.

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