Crm In Textile Industry Essay
A) INTRODUCTION ABOUT THE INTERNSHIP:
Project work is an integral and very important part of academic curriculum of MBA graduation. it create an initiative bridge the gap between the knowledge and its application through a series of interventions that enables students of VTU MBA program to gain insights and exposure to the industry.
The 10 weeks project has been positioned during 4th semester of the MBA as it serves the twin purpose of providing critical business insights to students as well providing industry with graduates of a high caliber who are ready to get ahead in the world from day one
CRM is a system for managing a company's interactions with current and future customers. It often involves using technology to organize, automate,
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CRM IN THE TEXTILE INDUSTRY In textile industry one company sell its product to another company. Example a yarn manufacturing company sells to fabric manufacturing company. A fabric manufacturing company sells fabric to apparel company. The main customers of the companies in the textile industry are the wholesalers. And the final product is sold to the wholesalers and retailers. In this industry the customers are few and profit margins are high. So CRM is very much necessary and relevant in this industry. There is a high degree of uncertainty on the part of the buyers; the likelihood of customers seeking a relationship is increased. If the firm loses its customer it would be major loss to the firm. The product in the textile industry is complex and quality is an important factor. One of the major values the customer expects from vendors is quality. No customer will tolerate average quality.
According to GE’s chairman John “quality is the best assurance of customer loyalty and strongest defense against competition and the only path to sustained growth and earnings.” If the product is not of good quality the customer will not be satisfied and the firm may lose its customer. Moreover there is a scope of customization in the product. The seller has to customize the product according to the need of the customer. Customization is changing the product according to the need of the customer in order to satisfy
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