Strategy for key account management of duong minh phuc company

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Vo Hoang Dai Duong STRATEGY FOR KEY ACCOUNT MANAGEMENT OF DUONG MINH PHUC COMPANY MASTER OF BUSINESS ADMINISTRATION Ho Chi Minh City – Year 2018 UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Vo Hoang Dai Duong STRATEGY FOR KEY ACCOUNT MANAGEMENT OF DUONG MINH PHUC COMPANY MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: Prof Tran Ha Minh Quan Ho Chi Minh City – Year 2018 SUPERVISOR’S REPORT ON THE THESIS PROPOSAL SUBMITTED FOR DEGREE OF MASTER of BUSINESS ADMINISTRATION The thesis proposal title: STRATEGY FOR KEY ACCOUNT MANAGEMENT OF DUONG MINH PHUC COMPANY Student name: Vo Hoang Dai Duong Supervisor: Dr Tran Ha Minh Quan General comments: • Remarks on the student’s attitude: • Remarks on the assignment’s academic quality: Overall assessment:  Meet requirement for submitting  Not meet requirement for submitting Other remarks: - Did the student follow the report schedule? 󠇒 Yes 󠇒 No - The turning plagiarism percentage: Supervisor’s signature 󠇒 Other: ………………… Table of Contents Executive Summary INTRODUCTION PROBLEM CONTEXT PROBLEM IDENTIFICATION CAUSE VALIDATION ALTERNATIVE SOLUTIONS ACTION PLANS SUPORTING DATA APPENDIX REFERENCE LIST Executive Summary Duong Minh Phuc Co.td (DMP) is a young company established two years, specializing in LPG In recent months, sales have been declining and losing customers based on the number of sales of the company since early 2017 With that situation, we have conducted several interviews to evaluate the internal as well as interviews with existing clients and former DMP clients to identify shortcomings in the company's business processes Recognizing the current weak point is weak management and no policy to support industrial customers make the situation does not increase the company's new customers The data and interviews will be combined with the theory of problem management in the enterprise that can describe the direction in addressing this problem Finally, recognizing the core issue, we have outlined some of the solutions that can help DMP escape these problems INTRODUCTION 1.1 Sector background The economy of our country is in the first phase of market economy with the state management The transition of the economy from central planning to the functioning of the market economy has opened up a new era of development opportunities as well as great challenges for economic sectors, enterprises in Vietnam Various industrial and service sectors are formed and developed through each stage Keeping up with the current trend of globalization, our country has some opening policies for more multinational companies easily penetrate, which has created a fierce competitive environment for the domestic market The gas market is also one of the most competitive markets, especially in big cities Therefore, gas has played a significant role as domestic equipment has a huge impact on the daily life of Vietnamese residents LPG stands for Liquefied Petroleum Gas referred to as simply propane or butane, are flammable mixtures of hydrocarbon gases used as fuel in heating appliances, cooking equipment, and vehicles… In civil use, LPG is widely used in daily life: used for gas stove, oven There are also many LPG applications in residential lighting systems, lighting, laundry For commercial applications, the use of LPG in commercial is similar to that of civil use but at a much larger scale Consumers use LPG in restaurants for industrial stoves, ovens, hot water boilers Manufacturers from big companies are also potential customers when they use large volumes of LPG for public ovens with great capacity Additionally, gas companies can exploit customers in the food processing industry such as roasting meat, smoked meat, processing potatoes In industry, LPG is widely used in many industries: metal processing, welding and cutting of steel, glass processing and processing, silicate furnace, canning disinfection, incinerator, paint coating, battery, fiber fabric Recognizing the importance of gas in individuals’ daily lives and in production, the number of gas companies in the market increased over the past decade, resulting in the difference of supply and demand is likely to be large Customers have more choices when there are many types of companies producing cylinders of gas with different quality and price Therefore, LGP companies must constantly change and develop their products and services in order to gain market share in the market According to consumption purposes, LPG customers are divided into two groups, which are industrial customers – business purposes, and household customers – cooking purpose This thesis concentrates on the group of industrial customers to analyze since the company’s main segment is industrial customers Institutional clients have large scale gas consumption for their production, especially is owner the restaurant or factory operations and processing operations while household customers are relatively small in consumption and are concentrated in each area 1.2 Company background Duong Minh Phuc Company limited (hereafter referred to as “DMP”) established in March 2015 specializing in distributing high-quality LPG for household & industrial customers DMP headquarter based in HCMC, so DMP focuses Ho Chi Minh City market DMP is still at an experimental stage of tweaking its products and services to response its customers’ reaction and well-adapt the market DMP’s mainly customers is small and Medium Enterprises (SMEs) such as new restaurant, school… with company organization is about 10 employees Due to new established company, DMP’s organization structure is simple to help it operate more flexible and efficient, operational cost is low The organization chart described as below: Director: person Sales and Marketing: persons (1 person in charge for Industrial, and person in charge for House Holds) Accounting: person Logistics: persons Engineer: pensions in part-time Mission: • Committing to deliver the high-quality products to customers • Enhancing consumers’ perception of safety in using LP Gas to avoid the risks The category of customers: • Geography: Industrial Zone, Industrial Park… • Type of using purpose: cooking, fuel consumption for machine, forklifting… • Income: high Products and services: • Products: LPG & related equipment (LPG regulators, valves…) • Services: Consulting, Designing, Constructing, Installing, Maintaining, Repairing, Fixing… LPG system for factories, restaurants, schools, hotels… PROBLEM CONTEXT Similar to small and mid-size companies, DMP also has issues related to sales management as well as sales revenue Based on financial reports of DMP Company in the last months of 2017 company financial statement has showed the sharply reducing in Sales Volume The number of customer dropped 20%, 30% and 50% in comparison in early June 2016 and has no way to redeveloped the profit margin LPG Consumption 2017 (kg) 10.000 9.000 8.000 7.000 6.000 5.000 4.000 3.000 2.000 1.000 - Jun Jul Aug Sep Oct Nov Dec Napoli Pizza - - 687 1.560 1.231 1.350 1.430 Katsuyoshi - - 93 87 100 95 97 Ebisu - - - 712 1.423 1.276 1.354 Yeeboo - - 1.787 3.667 4.584 4.633 4.732 Baby Spoon - 252 287 300 277 250 - Bali 248 248 233 - - - - Azumaya Dining - - 442 393 422 421 417 Achaya - - 500 483 507 479 - Ateya - 50 50 71 67 - - AVE - 100 97 88 78 - - Akari 150 185 167 138 - - - Aoi 714 853 817 - - - - Aoi Akari AVE Ateya Achaya Azumaya Dining Bali Baby Spoon Yeeboo Ebisu Katsuyoshi Napoli Pizza Figure 2.1 Monthly LPG amount of consumption (2017) According to sales volume, it showed that from June and to October, the sales increased steadily However, the number of customer increased from June to August, and it decreased from September to December, but the sales trend still increased from September to October, and then decreased from November due to company get new Team media related to the and more sale person company’s to increase the sale requiremnt target CONCLUSION Based on all of the finding, the core problem came from the Sale Management of the Director is not have enough experience and correct strategy to develop the revenue of company Following the data, interviews and theory application during the research, it showed that the alternative solutions must be actioned as soon as possible to improve the company’s performance Company’s management should strengthen sales forces and enhance vital role of sales leadership by performing steps alternative solutions APPENDIX 1: INTERVIEW GUIDE The aim of the interview to find out what is the customer evaluated about the products and the service after sale of DMP Company to determine what is the shortage of the currently strategy to manage the customers I- Personal Information Name, age, position II- Interview question During the time using our product and services, have you encountered any problems? Tell me in details please ? How you think about our product quality compare with your previous supplier ? How about the speed of order processing, delivery time meet your require or not ? Do you feel satisfy with our policy for customer of our company ? Explain Why ? Could you tell me about your opinion about the speed of problems solving of sale staff when problems occurs ? Do you remember the frequency of periodic inspections by the caseworker ? With all of the problem occurred, could you recommend me how could d we solve that ? Thanks and Close APPENDIX 2: TRANSCRIPT OF THE IN DEPTH INTERVIEW Location: at each restaurant who use the DMP’s products and services Time: Around December, 2017 TRANSCRIPT 1: Owner of Ebisu Restaurant Interviewer: Hi Mr A, nice to see you again Today I just want to interview you some question in purpose improve our services of our company Please help us ! Interviewee: Ok Duong No problem Interviewer: First, during the time using our product and services, have you encountered any problems? Tell me in details please ? Interviewee: Yes just last Sunday, we can't receive support when we contact emergency numbers immediately We have to wait until the next day morning Interviewer: Oh so sorry about that We noted this problem But how you think about our product quality compare with your previous supplier ? Interviewee: Your product quality is better than previous supplier, when we use your LPG, the flame is blue which means LPG is clean compared with red flame which means LPG is mixture with other material Observing the method of running, repairing, or replacing spare parts performed by DMP’s skillful engineers, we have no any concerns or doubt about LPG systems That is the feeling of “safety” they bring us Interviewer: So happy to heard that How about the speed of order processing, delivery time meet your require or not ? Interviewee: Right on time, your delivery is good, employees wear uniform, signed delivery receipt to confirm delivery quantities Interviewer: Do you feel satisfy with our policy for customer of our company ? Explain Why ? Interviewee: Yes, we sign contract already When I agree, I signed the contract with you, nothing else Interviewer: Could you tell me about your opinion about the speed of problems solving of sale staff when problems occurs ? Interviewee: A little bit slow, and we have problems with 24/7 services, we work 24/7 Sometimes, we call late, but you can't support, and we have to wait until tomorrow morning to receive support Interviewer: Mr A, you remember the frequency of periodic inspections by the caseworker ? Interviewee: Not too much frequently, 45-60 days/times Interviewer: With all of the problem occurred, could you recommend me how could d we solve that ? Interviewee: You should check your technical support team, set KPI for them to manager better Interviewer: Oh Thank you so much Mr A We really appreciate with your idea and you support TRANSCRIPT 2: Owner of Ave Restaurant Interviewer: Hi Ms B , nice to see you again Today I just want to interview you some question in purpose improve our services of our company Please help us ! Interviewee: Ok Duong Interviewer: First, during the time using our product and services, have you encountered any problems? Tell me in details please ? Interviewee: Yes, we have Your company’s hotline has not work properly In case we need gas or technical support, we could not reach you soon Interviewer: How you think about our product quality compare with your previous supplier ? Interviewee: Your company’s product quality itself is fine but not outstanding compared to that of other suppliers in the market Interviewer: How about the speed of order processing, delivery time meet your require or not ? Interviewee: 90% of your services satisfy our requirements There’re still some cases of delay in delivery which makes negative impacts on our business Interviewer: Do you feel satisfy with our policy for customer of our company ? Explain me in details madam ? Interviewee: We prefer some more promotional programs or special programs such as loyalty cards for your clients We not expect too much on our provider We only need them to check our LPG systems periodically without any notice from us By this way, we feel more committed to the supplier Interviewer: Could you tell me about your opinion about the speed of problems solving of sale staff when problems occurs ? Interviewee: Telephone support should be improved Interviewer: Ms B, you remember the frequency of periodic inspections by the caseworker ? Interviewee: No, we don’t Interviewer: With all of the problem occurred, could you recommend me how could we solve that ? Interviewee: The telephone support staff and hotline should be improved Interviewer: Oh Thank you so much Ms A We really appreciate with your idea and you support and we always here to listen to you If you have any problems about anythings or about my staffs Just call directly to me Thank you so much TRANSCRIPT 3: The Owner Baby Spoon Interviewer: Hi Mr C, nice to see you again Today I just want to interview you some question in purpose improve our services of our company Please help us ! Interviewee: Uhmmm, no! Maybe not yet! We have been using your products for almost months I would have told you right away if there is any problem Everything seems to be fine till now Interviewer: How you think about our product quality compare with your previous supplier ? Interviewee: It’s pretty good actually! I don’t know exactly how good it is But at least I can save my time hearing the complains of my staffs about something is broken, we need to fix this, we need to replace that,… Yeah! That’s my opinion Interviewer: How about the speed of order processing, delivery time meet your require or not ? Interviewee: In part because we have good management, training staffs carefully about the ordering gas early, not to let any kitchen fire off during the working so I did not pay too much attention to this issue Maybe from now on I will be more concerned about that! Interviewer: Do you feel satisfy with our policy for customer of our company ? Explain me in details madam ? Interviewee: I need a few more services or promotions that is more attractive to me Feels like that’s going to be the thing enhance the relationship between our businesses! What you think about that? Interviewer: Could you tell me about your opinion about the speed of problems solving of sale staff when problems occurs ? Interviewee: Apparently I have not been getting involved in any kind of troubles that your system or you gas caused And I did not expect it to happen So I hope your firm will provide good maintenance services to mine Interviewer: Ms B, you remember the frequency of periodic inspections by the caseworker ? Interviewee: Around time a month Interviewer: With all of the problem occurred, could you recommend me how could d we solve that ? Interviewee: As your role as my supplier, you must provide me good quality product that should not get my company in any kind of trouble The best way you could is to keep providing me good quality product and service, as good as how it works till present And please be in touch and try to fix the problem as fast as you can when in comes up Interviewer: Oh Thank you so much We really appreciate with your idea and your recommend TRANSCRIPT 4: Azuay Dining Restaurant Interviewer: Hi Ms D, nice to see you again Today I just want to interview you some question in purpose improve our services of our company Please help us ! Interviewee: No Until now, I don’t find any lack of your services Interviewer: First, during the time using our product and services, have you encountered any problems? Tell me in details please ? Interviewee: I really like your service of your company You know, I feel so satisfier than different supplier, their transporter made me annoyed For me, safety’s the most important Interviewer: How you think about our product quality compare with your previous supplier ? Interviewee: Wow, your company always keep an appointment Let uphold this company ‘traditional Interviewer: Do you feel satisfy with our policy for customer of our company ? Explain me in details madam ? Interviewee: The speed of solving problems from the sale staff are helpful and immediate The staff make sure all issues are addressed and resolved to help their customers Interviewer: Ms B, you remember the frequency of periodic inspections by the caseworker ? Interviewee: The same with other, time a month I remember Interviewer: With all of the problem occurred, could you recommend me how could d we solve that ? Interviewee: I hope your company will improve all this good side Because your product’ s amazing Interviewer: Oh Thank you so much We really appreciate with your idea and your recommend TRANSCRIPT 5: BALI Restaurant Interviewer: Hi Ms E, nice to see you again Today I just want to interview you some question in purpose improve our services of our company Please help us ! Interviewee: Yes, the delivery time is your company problem Interviewer: First, during the time using our product and services, have you encountered any problems? Tell me in details please ? Interviewee: As i said about, all thing are good except the delivery time I called you in the morning but you bring the product to my restaurant not before noon Interviewer: How you think about our product quality compare with your previous supplier ? Interviewee: Generally, your product quality & price are better than other previous suppliers, i don’t have to worry too much when working with you Interviewer: How about the speed of order processing, delivery time meet your require or not ? Interviewee: As i said about, all thing are good except the delivery time I called you in the morning but you bring the product to my restaurant not before noon Interviewer: Do you feel satisfy with our policy for customer of our company ? Explain me in details madam ? Interviewee: They respond very quickly but they don’t really solve the problems Yes, your policy of price, monthly promotion, commission and gift for partner in special holiday is all good and i feel satisfy Interviewer: Could you tell me about your opinion about the speed of problems solving of sale staff when problems occurs ? Interviewee: They respond very quickly but they don’t really solve the problems Interviewer: Ms B, you remember the frequency of periodic inspections by the caseworker ? Interviewee: They respond very quickly but they don’t really solve the problems Interviewer: With all of the problem occurred, could you recommend me how could d we solve that ? Interviewee: They respond very quickly but they don’t really solve the problems Interviewer: Oh Thank you so much We really appreciate with your idea and your recommend APPENDIX 3: SUMMARY OF INTERVIEW RESULTS Question 1: During the time using our product and services, have you encountered any problems? Tell me in Details? Answer • Yes just last Sunday, we cannot receive support when we contact emergency numbers immediately We have to wait until the next day morning • Yes, we have Your company’s hotline has not work properly In case we need gas or technical support, we could not reach you soon • It is good actually! I not know exactly how good it is At least I can save my time hearing the complains of my staffs about something is broken, we need to fix this, and we need to replace that… Yeah! That is my opinion • I really like your service of your company You know, I feel so satisfied than other suppliers do, their transporter made me annoyed does For me, safety’s the most important • As I said about, all thing are good except the delivery time I called you in the morning but you bring the product to my restaurant not before noon 2) Summarize • Hotline/Emergency support does not work well, customers cannot contact for technical support or ordering for more • Delivery problems when delivery team response to customer late • Delivery service just meet the requirement of customer in Central District • The attitude of the delivery staff is not professional Question 2: How you think about our product quality compare with your previous supplier? Answer • Your product quality is better than previous supplier, when we use your LPG, the flame is blue which means LPG is clean compared with red flame which means LPG is mixture with other material Observing the method of running, repairing, or replacing spare parts performed by DMP’s skillful engineers, we have no any concerns or doubt about LPG systems That is the feeling of “safety” they bring us • Your company’s product quality itself is fine but not outstanding compared to that of other suppliers in the market • It is good actually! I not know exactly how good it is At least I can save my time hearing the complains of my staffs about something is broken, we need to fix this, and we need to replace that… Yeah! That’s my opinion • Wow, your company always keep an appointment Let uphold this company’ traditional • Generally, your product quality & price are better than other previous suppliers are, i don’t have to worry too much when working with you Summarize • Almost customers are happy with high quality product; the high quality product helps customers to less get in troubles with kitchen equipment caused by low quality LPG • DMP has achieved its goal of affirming the quality of its products • The customers just afraid about the customer servives after sales and suggest for the promotion programs • Need to various the services after sale, not only the clean valse as another competiors in the market Question 3: How about the speed of order processing, delivery time meet your require or not ? Answer • Right on time, your delivery is good, employees wear uniform, signed delivery receipt to confirm delivery quantities • 90% of your services satisfy our requirements There are still some cases of delay in delivery, which makes negative impacts on our business • In part because we have good management, training staffs carefully about the ordering gas early, not to let any kitchen fire off during the working so I did not pay too much attention to this issue Maybe from now on I will be more concerned about that! Summarize • Trouble handle is not Troubleshooting is uneven • Employees are not aware of the process when the customer encounters an emergency • The delivering systems of company had the problem in handle the customer need’s schedule • No time delivery commitment for the customer Question 4: Do you feel satisfy with our policy for customer of our company? Why? Answer • Yes, we sign contract already When I agree, I signed the contract with you, nothing else • We prefer some promotional programs or special programs such as loyalty cards for your clients We prefer some more promotional programs or special programs such as loyalty cards for your clients We not expect too much on our provider We only need them to check our LPG systems periodically without any notice from us By this way, we feel more committed to the supplier • I need a few more services or promotions that is more attractive to me Feels like that’s going to be the thing enhance the relationship between our businesses! What you think about that? • The speed of solving problems from the sale staff are helpful and immediate The staff make sure all issues are pointed out and resolved to help their customers • They respond very quickly but they don’t really solve the problems Yes, your policy of price, monthly promotion, commission and gift for partner in special holiday is all good and i feel satisfy Summarize • Need to add loyalty program loyalty program • The discount policy should be flexible for businesses • It is necessary to adjust pricing policies in line with the competitive situation • Further enhance customer service Question 5: Could you tell me about your opinion about the speed of problems solving of sale staff when problems occurs ? Answer • A little bit slow, and we have problems with 24/7 services, we work 24/7 Sometimes, we call late, but you cannot support, and we have to wait until tomorrow morning to receive support • Telephone support should improve • Apparently, I have not been getting involved in any kind of troubles that your system or you gas caused In addition, I did not expect it to happen Therefore, I hope your firm will provide good maintenance services to mine • They respond very quickly but they don’t really solve the problems Summarize • Improved communication between DMP and customers in an emergency • There should be an incident handling process for the company's employees • Add professional knowledge to employees to handle customer problems • Need to listen and record more contributions of customers Question 6: Do you remember the frequency of periodic inspections by the caseworker? Answer • Not too much frequently, 45-60 days/times • No, we not • Around time a month • The same with other, time a month I remember • They respond very quickly but they don’t really solve the problems Summarize • Clarification of periodical commitment to quality inspection of products • Instructs staff members in the system audit work for customers • Set up an employee audit process, evaluation reports sent to customers to assess the employee in charge • Set up KPI for employees in periodic product check for customers Question 7: With all of the problem occurred, could you recommend me how we could solve that ? Answer • You should check your technical support team, set KPI for them to manager better • The telephone support staff and hotline should improve • As your role as my supplier, you must provide me good quality product that should not get my company in any kind of trouble The best way you could is to keep providing me good quality product and service, as good as how it works until present In addition, please be in touch and try to fix the problem as fast as you can when it comes up • I hope your company will improve all this good side Because your product’ s amazing • They respond very quickly but they don’t really solve the problems Summarize • Commitment to record customer contributions • Often the audit staff coordinated the quick survey with the existing customers • Improve the listening skills of customers to improve the quality of service REFERENCES Vietnam Oil & Gas Report - Q1 2010 Vietnam Oil & Gas Report 2010 First:1-88 Innis DE, La Londe B,J Customer service: The key to customer satisfaction, customer loyalty, and market share Journal of Business Logistics 1994;15(1):1 Dash M, Havaldar KK, Jacob A Exploring a New Dimension of Customer Service and its Impact on Sales Growth and Loyalty International Journal on Customer Relations 2014;2(1):14-22 Cater B Trust and Commitment in Professional Service Marketing Relationships in Business-to-Business Markets Managing Global Transitions 2007;5(4):371-390 Izogo EE Customer loyalty in telecom service sector: the role of service quality and customer commitment TQM Journal 2017;29(1):19-36 Akrout W, Akrout H Trust in B-to-B: Toward a Dynamic and Integrative Approach Recherche et Applications en Marketing 2011;26(1):1-21 Hau LN, Thuy PN Impact of service personal values on service value and customer loyalty: a cross-service industry study Service Business 2012 06;6(2):137-155 Browell S, Ivers R Part-time employees in food retailing Managing Service Quality 1998;8(4):281-293 Chase L When promoting a saleperson to management SuperVision 2000 03;61(3):1112 10 Simintiras AC, Lancaster GA, Cadogan JW Perceptions and attitudes of salespeople towards the overall sales job and the work itself J Manage Psychol 1994;9(7):3 11 Aretha Senior Achieving longevity in business: Determinants of small business success Ann Arbor: Lynn University; 2016 12 James P Lawler A study of customer loyalty and privacy on the Web Ann Arbor: Pace University; 2002 13 Kwicien J Improving sales management effectiveness Employee Benefit Adviser 2010 01;8(1):40 14 Na Sakolnakorn TP The Analysis Of Problem And Threat Of Smaill And Medium-Sized Enterprizes In Northeast Thailand The International Business & Economics Research Journal 2010 09;9(9):123-131 15 Mukarram Bhatty RS, Spalding T Redefining customer loyalty, the customer's way Ivey Business Journal 2001 Jan;65(3):13-17 16 Li-Wei W Satisfaction, inertia, and customer loyalty in the varying levels of the zone of tolerance and alternative attractiveness The Journal of Services Marketing 2011;25(5):310-322 17 Kindström D, Kowalkowski C, Alejandro TB Adding services to product-based portfolios Journal of Service Management 2015;26(3):372-393 18 Problems and Needs of Small and Medium-sized Enterprises in their Development -An analysis report on the questionnaire of small and medium-sized enterprises in Guangdong, Liaoning, Hubei and Yunnan Provinces China Development Review 2001 Second 19 Ahire SL, O'Shaughnessy ,K.C The role of top management commitment in quality management: an empirical analysis of the auto parts industry The International Journal of Quality Science 1998;3(1):5-37 20 Roy D Three Marketing Benefits of Centralized Customer Data & Hybrid Email Marketing Customer 2015 11;33(9):28 21 Ben Shaw-Ching Liu, Furrer O, Sudharshan D The relationships between culture and behavioral intentions toward services Journal of Service Research : JSR 2001 11;4(2):118-129 22 Okanga B Small- and medium-sized enterprises’ knowledge management systems as edifiers of new value innovations South African Journal of Information Management 2017;19(1) 23 Kerr W Stage View; THESE PLAYS REFLECT THEIR DIRECTOR'S WEAKNESS New York Times 1981 Nov 01 24 Vietnam Oil and Gas Report - Q3 2009 Vietnam Oil & Gas Report 2009 Third:1-82 25 Vietnam Trade and Investment Risk Report - Q3 2017 BMI Risk Reports 2017 Third:150 ...UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Vo Hoang Dai Duong STRATEGY FOR KEY ACCOUNT MANAGEMENT OF DUONG MINH PHUC COMPANY MASTER OF BUSINESS... ADMINISTRATION The thesis proposal title: STRATEGY FOR KEY ACCOUNT MANAGEMENT OF DUONG MINH PHUC COMPANY Student name: Vo Hoang Dai Duong Supervisor: Dr Tran Ha Minh Quan General comments: • Remarks on the... the cost of keeping an existing one According to research of James P (2002) (12), 20% of existing customers of the company can generate 80% of a company' s profits If the truth is only 50% of those