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Key Account generally means all important customers. The Key Account Manager has to maintain and develop existing accounts as well as acquisition of new accounts. His/her duties are similar to those of the Sales Manager: independent planning and executing of sales drives, telemarketing and other sales promotion activities.
The Key Account also does sales-analysis and implementation of activity & marketing plans in order to develop, control and optimize strategies for client acquisition.
I agree with Mr. Vinod answer
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Agreed with the excellent description given by Mr.:Jetley
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Agree with Mr. Vinod.