FORMULATION OF A FUNCTIONAL MARKETING STRATEGY IN SMALL TEXTILE ORGANIZATIONS

Authors

  • Miodrag Trajković Academy of Professional studies South Serbia

Keywords:

strategic management, functional strategy, marketing strategy, strategy implementation

Abstract

Today (and in the future) it is unthinkable for a successful business of any business organization-company without the existing knowledge in defining and choosing the most efficient strategy, at all levels of the organization. The turbulence of changes that are happening today on the economic scene, transition, globalization and hypercompetition before economic organizations raises the question of whether or not to be, what strategy to formulate, adopt and implement in order to achieve business success. The industrial technology of making clothes enabled specialization in the use of special machines and specialized workers, which enabled production in large series. The task of management in textile organizations is to organize the production process well, without delays and unnecessary moves, in order to deliver their products to the market as soon as possible. The company needs a strategy as a plan and a way to achieve goals, then, commitment to the work of management and members of the organization, as well as modern funds (technology and information technology) and financial resources for business activities to quickly (timely) respond to market demands and thus achieving business success. The key person in any small business is the owner-manager who organizes, manages and takes responsibility for the business.The subject of the paper is to set a conceptual framework for strategic management for the formulation and implementation of strategy in our small textile organizations. The paper will mainly use the method of theoretical analysis and the systemic holistic method, with a multidisciplinary approach to research. The paper presents a practical example of the strategy and strategic options of Manifattura Europe clothing as a possible model of strategic behavior. The aim of this paper is to create a conceptual framework for the management of small textile organizations in this field to formulate and implement the main and functional marketing strategy in their organizations, taking into account its specifics, specific strategic position and strategic resources.Achieved results in the application of the main cooperative strategy and functional strategies, our application organization since its inception has recorded good business results (production volume, market expansion, total revenue, profit, etc.) so that today it is one of the leading garments for heavy clothing

Author Biography

Miodrag Trajković, Academy of Professional studies South Serbia

Department of Technology and Art studies Leskovac

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Published

2021-12-15

How to Cite

Trajković, M. (2021). FORMULATION OF A FUNCTIONAL MARKETING STRATEGY IN SMALL TEXTILE ORGANIZATIONS. KNOWLEDGE - International Journal , 49(1), 71–75. Retrieved from http://ikm.mk/ojs/index.php/kij/article/view/4807