Account management Essay Example | Topics and Well Written Essays - 750 words

Account management - Essay ExampleThe other(prenominal)ime and leisure industry includes a wide range of sub-sectors entertainment (adult entertainment, attractions, movie and theaters), gambling, hospitality, restaurant and caf, sport and recreation, and so forth Entertainment and leisure industry is marked by increasing capital merchandises activity all over the past 5 years. It is estimated that average annual returns for industry ar anticipated to exceed 13 percent over the next 10 years, with Entertainment and leisure industry investment alternatives performing at single figure growth rates (approximately 7 percent to 9 percent).The entertainment and leisure industry, known for its patchy tack on chain and bungling circulation processes, has the latent to improve efficiency, inventory, audit control and to diminish infrastructure and operation be by web-enabling their note online.In order to assess the situation the company can provide its own market research to collec t and analyze the available information. This information can be found in mint candy 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 sassy 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 distributors merchandise activity and strategy. An assessment of gene ral environment and the firms immediate competitive position should enable the card manager to identify the major threats and opportunities facing the firm. A strengths and weaknesses analysis can be particularly correctly if it incorporates a comparison with competitors. Core competences 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 affirmable 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 distributors activity. It may include sales and product variations by region and besides will pr ovide the basis for implementing. The account manager should analysis the previous work of distributors and identify possible mistakes in their marketing strategy. Their work may include ineffective advertising campaign, inappropriate sales decisions, tools and techniques, or the choice of target audience may be wrong. The following techniques can be used to bring entry into the sector the sales may be designed to make consumers aware of a new product, to stimulate nonusers buy to sample the existing product and service. The next step is elevation of customer to client status, to gear up a pattern of repeat buying by making it easy for the customer to do business with the company. If consumers are really impressed