A global supplier of flavors to the Food industry faced increasing customer purchasing power and the threat of commoditization. While a Key Account Approach was discussed to address market issues, the organization lacked the capabilities (skills, processes and behaviors) for successful implementation.
Market Edge worked with the client to
- Define the capabilities necessary to deliver the strategy. These included traditional skills (e.g. negotiating win–win solutions) and new capabilities (e.g. building shared scorecards) and joint strategic initiatives with the Key Account.
- Conduct capability assessments and prioritized gap analysis
- Design and deliver a development program for 10 critical Global Key Account Teams
Key Account teams developed account specific strategies that enhanced relationships and developed a competitive barrier. Key Account “Share of Wallet” stabilized and then returned to target levels. Over the following 4 years, the business also realized ~10% margin improvement in their top 10 global Key Accounts.