Key Account Planning Flashcards
7 cards from real CST practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Key Account Planning flashcards as text
In key account planning, what does a 'white space analysis' identify?
Answer: Unmet needs or untapped opportunities within an existing key account
White space analysis maps current spending against potential needs to reveal where additional value and revenue can be captured within a key account.
Which metric best measures the health of a key account relationship over time?
Answer: Net Promoter Score (NPS) combined with revenue retention rate
NPS gauges advocacy and satisfaction while revenue retention reflects loyalty, together providing a holistic view of relationship health.
A key account manager discovers a competitor has launched a product directly competing with the client's core offering. What is the FIRST step in the account plan response?
Answer: Conduct a competitive impact assessment and update the account's risk profile
Updating the risk profile with a competitive impact assessment ensures the account plan reflects the new threat before any tactical response is chosen.
What is the primary purpose of an executive sponsorship program within a key account strategy?
Answer: To align senior leadership on both sides and deepen strategic relationships
Executive sponsors bridge senior-level relationships, signal commitment, and open doors that field-level contacts cannot, deepening strategic alignment.
When developing a key account plan's 'account overview' section, which element is MOST critical to include?
Answer: The account's strategic business priorities and how they connect to your solution
Linking the client's strategic priorities to your solution forms the foundation of value alignment and guides every subsequent tactic in the plan.
A sales trainer recommends using a 'mutual success plan' with key accounts. What distinguishes this from a standard account plan?
Answer: It is co-created with the client and includes shared goals, milestones, and accountability
A mutual success plan is a collaborative document that commits both parties to shared outcomes, increasing client ownership and reducing churn risk.
In key account planning, 'share of wallet' refers to what?
Answer: The percentage of a client's total budget spent with your company versus competitors
Share of wallet measures your portion of the client's total spend in a category, revealing growth potential compared to what competitors capture.