Sales in Account Management - Essay Example

Sales "Account Management"
Decisions in marketing generally focus on products and services, their prices, their promotion, and in means through which they are distributed. The entertainment and leisure industry is one of the dynamic and fast-growing branches in the UK. High rates of its development and great volumes of currency receipts have an active influence on various sectors of the economy that promotes the formation of the industry. The Entertainment and leisure industry includes a wide range of sub-sectors: entertainment (adult entertainment, attractions, movie, and theaters), gambling, hospitality, restaurant and café, sport and recreation, etc. The entertainment and leisure industry is marked by increasing capital markets activity over the past 5 years. It is estimated that average annual returns for the industry are anticipated to exceed 13 percent over the next 10 years, with Entertainment and leisure industry investment alternatives performing at single-digit growth rates (approximately 7 percent to 9 percent).
The entertainment and leisure industry, known for its patchy supply chain and bungling circulation processes, has the latent to improve efficiency, inventory, and audit control and to diminish infrastructure and operation costs by web-enabling their business online.
In order to assess the situation the company can provide its own market research to collect and analyze the available information. This information can be found in mass media including press and TV advertising. This will help to identify competitors one by one, their price strategy and promotion techniques, their potential and target audience, and even the quality of products they propose. This research may include information on new security equipment and associated consultancy services brought out by other companies, the relative prices of goods in the Internet shops, how competitors are promoting their products, or whether changes are taking place in the way consumers buy goods. This second activity is sometimes referred to as market intelligence for it enables management to build up a picture of the market in which they operate and chart the significant changes and trends so that strategies may be initiated and changed as appropriate. And, the received information should be compared with the distributors' marketing activity and strategy.
An assessment of the general environment and the firm’s immediate competitive position should enable the account manager to identify the major threats and opportunities facing the firm. A strengths and weaknesses analysis can be particularly powerful if it incorpo¬rates a comparison with competitors. Core competencies are concerned with identifying those particular strengths which give the company an edge over its competitors, and those areas of particular weakness which are to be avoided. This may require a parallel analysis of competitors' resources as previously mentioned. Bear in mind the mistakes and false steps made by the distributor's new marketing strategy will be developed.
Taking into account this data it will be possible to assess, to a certain extent, opportunities existing in the entertainment and leisure industry. The account manager will need financial and organizational information as for the UK distributor's activity. It may include sales and product variations by region and also will provide the basis for implementation. The account manager should analyze the previous work of distributors and identify possible mistakes in their marketing strategy. Their work may include ineffective advertising campaigns, inappropriate sales decisions, tools, and techniques, or the choice of the target audience may be wrong.
The following techniques can be used to “gain entry” into the sector: the sales may be designed to make consumers aware of a new product and to stimulate nonusers to buy to sample the existing product and service. The next step is the elevation of the customer to 'client' status, to establish a pattern of repeat buying by making it easy for the customer to do business with the company. If consumers are really impressed with the quality of service and if the relationship exceeds their expectations, they may tell others about their satisfaction with our offer. Given the power of word of mouth, this type can be worth more than any amount of advertising.
It is possible to say that the entertainment and leisure industry represents a promising market for the company. On the one hand the need for security equipment and associated survives has not been satisfied. On the other hand, a fast-growing industry with thousands of new firms promises greater opportunities than a stable industry. The decision to focus on this very industry is a professional and well-weighed one because the focus on the entertainment industry will help to establish an appropriate marketing plan for long-term goals (it would be impossible with the Granada Group). Bear in mind the rates of growth and the size of the entertainment and leisure industry (97 000 large and middle size firms and corporations) it is possible to foresee that the new market strategy allows to bring in 1.5M in half a year. The main objectives of the company will include:
• creating a strong brand image for the firm;
• identifying possible barriers to entry and solutions to avoid negative experiences;
• identifying and covering all the niches in the entertainment and leisure industry;
• Develop a specific price strategy for the UK (it may include cost reduction, if the prices of competitors are higher, attractive conditions and terms for buyers, a flexible discount system, benefits for VIP clients, etc.).
• developing an aggressive advertising campaign that could help to substitute the existing product.
To sum it up it is possible to say that to “gain entry” into the sector the company should use a hybrid strategy framework based upon the following assumptions: strategy should employ a combination of differentiation focus and cost control. Cost focus is a lower-cost competitive strategy that focuses on a particular geographic market and attempts to serve only this niche. In using cost focus, the company seeks a cost advantage target segment. Differentiation focus will concentrate on a buyer group.
y, known for its patchy supply chain and bungling circulation processes, has the latent to improve efficiency, inventory, and audit control and to diminish infrastructure and operation costs by web-enabling its business online. In order to assess the situation the company can provide its own market research to collect and analyze the available information. This information can be found in mass media including press and TV advertising. This will help to identify competitors one by one, their price strategy and promotion techniques, their potential and target audience, and even the quality of products they propose.

This research may include information on new security equipment and associated consultancy services brought out by other companies, the relative prices of goods in the Internet shops, how competitors are promoting their products, or whether changes are taking place in the way consumers buy goods. This second activity is sometimes referred to as market intelligence for it enables management to build up a picture of the market in which they operate and chart the significant changes and trends so that strategies may be initiated and changed as appropriate.

And, the received information should be compared with the distributors' marketing activity and strategy. An assessment of the general environment and the firm's immediate competitive position should enable the account manager to identify the major threats and opportunities facing the firm. A strengths and weaknesses analysis can be particularly powerful if it incorporates a comparison with competitors. Core competencies are concerned with identifying those particular strengths which give the company an edge over its competitors, and those areas of particular weakness which are to be avoided.

This may require a parallel analysis of competitors' resources as previously mentioned. Bear in mind the mistakes and false steps made by the distributors' new marketing strategy will be developed. Taking into account this data it will be possible to assess, to a certain extent, opportunities existing in the entertainment and leisure industry. The account manager will need financial and organizational information as for the UK distributor's activity. It may include sales and product variations by region and also will provide the basis for implementation.

The account manager should analyze the previous work of distributors and identify possible mistakes in their marketing strategy. Their work may include ineffective advertising campaigns, inappropriate sales decisions, tools, and techniques, or the choice of target audience may be wrong. The following techniques can be used to "gain entry" into the sector: the sales may be designed to make consumers aware of a new product and to stimulate nonusers to buy to sample the existing product and service. The next step is the elevation of the customer to 'client' status, to establish a pattern of repeat buying by making it easy for the customer to do business with the company.