Design a marketing plan that will demonstrate entrepreneurial approaches to formulating product, price, promotion and distribution strategies and action programs. Introduction: Customer Relationship Management (CRM) is used to manage a company’s interactions with current and future customers. Key Account Management (KAM) over and above selling products to high end customers also considers the customers strategic role in the growth of suppliers. Deliverable: The essay for this lesson is required to be a minimum of 750 words that clearly demonstrate your understanding of the activity. Essays should have a clear introduction, thesis statement and conclusion, written in APA format (https://owl.english.purdue.edu/owl/). A minimum of three sources, at least two from the lesson, must be cited in-text and in the Reference list.Activity Details Perform the following steps: Step 1: Introduction Begin with an introductory paragraph that describes what Customer Relationship Management (CRM) and Key Account Management (KAM) are.· Follow-up with multi-paragraph response that compares and contrasts CRM and KAM. · Describes how a key account manager will use a CRM to improve performance and communication. Step 2: Research and Content Read the following overview materials about the results of a study that focuses on the best practices and strategies for key account management. Richards, K.A., & Jones, E. (2009). Key Account Management: Adding Elements of Account Fit to an Integrative Theoretical Framework. Journal of Personal Selling & Sales Management, 29(4), pp.305-310. Describe the results of the study including best practices and strategies for Key Account Management. Consider and elaborate about the importance of relationship effectiveness as it relates to Key Account Management.Step 3: Conclusion Summary Summarize what you have learned and describe how Customer Relationship Management (CRM) and Key Account Management relationships can impact the outside world.