CUSTOMER RELATIONSHIP MANAGEMENT (CRM) - A MODEL FOR IMPROVING THE MARKET PERFORMANCE OF COMPANIES IN THE TEXTILE INDUSTRY

Abstract

Traditional business management models in the textile industry, based on supply and demand, are changing today. New opportunities on the market are not only based on reducing costs and increasing profits within a given business model, but the creation of completely new sources of income is oriented towards innovative models. Customer Relationship Management (CRM) is a relatively young model, which thanks to changes in management, modern information and communication technologies, strategic business planning and the penetration of personalized marketing, is increasingly developing in companies in the textile industry. This is the model on which the perspective and business of these companies depends, and the topic of this paper,in which the authors try to point out the importance of the CRM model for companies in the textile industry, achieving a higher degree of consumer satisfaction and loyalty, and additional value and better business results in the form of profit rates, faster rates of return on invested funds and other indicators of business excellence. At a time when markets are becoming saturated and competition is global, it is not easy for companies in the textile industry to attract, let alone retain, consumers. Consumers in the center of attention, greater concern and the development of long-term relations with them, become the essence, if the development and success of business in the textile industry is desired. CRM today represents one of the leading areas on which company management in the textile industry focuses, and it is predicted that it will be even more important in the coming period. Optimizing business activities/processes with the aim of increasing profitability through building, maintaining and improving a personalized relationship with consumers represents the basic philosophy of such management and a model for improving the market performance of companies in the textile industry, which is presented in the rest of this paper. Managing companies in the textile industry is becoming an increasingly demanding and demanding job, and the authors of this paper have a desire to point out the role and importance of the CRM model and provide useful guidelines for its further development, as a response to the ever more discerning tastes of consumers of textile products. The paper is expected to encourage the scientific and professional public to further research in this area and contribute to a better understanding of the importance of the CRM model in improving the market performance of companies in the textile industry and their facing challenges in an increasingly complex modern business environment.