Key account management in financial services: an outline research agenda

Hughes, Tim; Foss, Bryan; Stone, Merlin; Cheverton, Peter

Authors

Tim Hughes Tim.Hughes@uwe.ac.uk
Professor in Applied Marketing

Bryan Foss

Merlin Stone

Peter Cheverton

Abstract

The forces of deregulation and technological development have created a highly competitive environment in financial services. Despite the quest for business-to-business 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.

Citation

Hughes, T., Foss, B., Stone, M., & Cheverton, P. (2004). Key account management in financial services: an outline research agenda. Journal of Financial Services Marketing, 9(2), 184-193

Journal Article Type	Article
Publication Date	Jan 1, 2004
Journal	Journal of Financial Services Marketing
Print ISSN	1363-0539
Publisher	Palgrave Macmillan (part of Springer Nature)
Peer Reviewed	Peer Reviewed
Volume	9
Issue	2
Pages	184-193
Keywords	financial services industry, service industries, banks & banking, customer services, customer relations, customer relationship management, financial services, key account management
Publisher URL	http://search.ebscohost.com/login.aspx?direct=true&db=buh&AN=15285180&site=ehost-live