Unpicking the meaning of value in key account management

International audiencePurpose – This article aims to build on existing literature on value and proposes new perspectives and facets of relational value in key account management (KAM). Design/methodology/approach – Building on traditional value perspectives, value in KAM is conceptually deconstructed and linked with strategic value approaches. Findings – The article finds that a multifaceted key account value perspective includes three different types of value: exchange value, proprietary value, and relational value. Depending on the type of value constellation within a KAM relationship, a number of distinct key account value strategies are presented and discussed. Originality/value – The article provides an innovative concept of value in strategically important business-to-business relationships. Based on this, several strategic implications regarding the management of value are derived which enable further empirical research and a more nuanced managerial approach towards KAM. Keywords Key accounts, Sales management, Value analysis