Posted in Marketing and Strategy Terms, Total Reads: 571
Definition: Account Type
Account in marketing refers to the clients of the company to whom they supply their product. Account types can be defined in various terms. Let us understand with simple example, in sales of FMCG products we can have two types of accounts. One is account of traditional stores & other can be account of modern trade stores.
The accounts of traditional stores can be the general shopkeepers or kirana store owners. The accounts of modern trade stores can also have accounts of different firms like we can have Aditya Birla account which will have their convenience stores, supermarkets & hypermarkets. All these are different type of accounts that sales people cater to.
Also, we have key accounts which provide most of the business because the number of clients is less but the revenue generated from these accounts if very higher. The account manager is responsible for maintaining the relationship with various accounts.