Marketing Activities of Square Textiles Ltd:

About Marketing:

Marketing deals with identifying and meeting human and social needs. One of the shortest
definitions of marketing is "meeting needs profitably". The goal of marketing is to attract
new customer by promising superior value and to keep and grow current customers by
delivering satisfaction.
The American Marketing Association offers the following formal definition: "Marketing is an
organizational function and a set of processes for creating, communicating, and delivering
value to customers and for managing customers' relationships in ways that benefit the
organization and its stake holders.
Marketing means managing markets to bring about profitable customer relationships. The
aim of marketing is to know and understand the customer so well that the product or
service fits him and sells itself. However, creating profitable customer relationships takes
work. Sellers must search for buyers, identify their needs, design good marketing offers, set
prices for them, promote them, and store and deliver them. Activities such as product
development, research, communication, distribution, pricing, and service are core
marketing activities.
Broadly defined, marketing is a social and managerial process by which individuals and
groups obtain what they need and want through creating and exchanging value with others.
In a narrower business context, marketing involves building profitable, value-laden
exchange relationships with customers. Hence, we define marketing as the process by
which companies create value for customers and build strong customer relationships in
order to capture value from customers in return.

About Marketing Mix:

In deciding on tile marketing program, a company must decide how much to adapt its
marketing mix i.e. 4p’s (Product, Price, Promotion and Place) to local conditions, at the two
ends of the spectrum are standardized and adapted marketing mixes, with many step in
between. At the product level, firms can pursue a strategy or striate extension, product
adaptation, or product invention, at the promotional level, firm may choose
communication, adaptation or dual adaptation. At the price level firms may encounter price
escalation and grey market and it may be very difficult to set standard, prices. At tile
distribution level firm needs to take a whole- channel view at the challenge of distributing
its product to the final

“©Daffodil International University ” 10

users. In creating all elements of the marketing mix firm must be aware of the cultural,
social, political, environmental, technological and legal limitations they face in other
countries.
Now here we will examine potential adaptations that Square Textiles Ltd. Might make to
their product, promotion, price, and distribution as they enter foreign market.

The marketing mix is the set of controllable tactical marketing tools – Product, Price, Place
and Promotion; that the organization blends to produce the response it wants in the
market. The marketing mix is consisting of everything the organization can do to influence
the demand for its product or services.

Square Textiles Ltd. is product and service oriented organization. For any organization that
provides service- it is important that all the 4 Ps’ of marketing mix are implemented
properly.

Marketing
Mix

Target

Product market Place

Product Channels
variety
Quality Coverage
Design Price Promotion Assortments
Features List Price Sales promotion Locations
Brand name Discount Advertising Inventory
Packaging Allowances Sales force Transport
Sizes Payment Public relation
period
Services Credit terms Direct
 marketing

Figure:The Four ‘P’ component of the marketing mix

Marketing Mix for Service Firms:

The Service marketing mix comprises of the 7 Ps.These include:

1. Product 2. Price

3. Place 4. Promotion

5. People 6. Process

7. Physical Evidence

Figure: The extended Marketing Mixes of Service Firm

Marketing Mix of Square Textiles Ltd: 3.3.1Product:
Product means the goods-and-services combination the company offers to the target
market.
In simplest word, Product is that satisfy customer’s needs.
Square Textiles Ltd produces yarn for RMG (Ready Made Garments) in Bangladeshi
garments industry who exports RMG abroad; because of that Square Textiles Ltd is 100%
export oriented company. They ensure the best quality of the products. Square Textiles Ltd
manufactures not only conventional yarn but also produces fancy yarn that can satisfy
customer’s needs locally and globally.
Beside conventional cotton yarn, Square concentrate on PIMA cotton yarn (Supima
Certified), Organic cotton yarn (Control Union Certified), CMIA (Cotton made in Africa), Core
spun, Slub Compact yarn and Bamboo yarn.
Based on global demand, Square move forward to blended yarn like Modal (100% or
50+50), Viscose (100% or 50+50), PC (65+35 or 50+50), CVC (60+40 or 80+20) and
Melange.

The product range of Square Textiles Ltd- 1.100% conventional cotton yarn:
Combed, Carded, Compact, Core spun, Open End (Atuocoro, BT in Cotton 100%, Viscose
100% in woven, knit & towel standard)
Value added cotton yarn:

Pima, CmiA (Cotton Made in Africa), Organic (GOTS and Open End Standard)
100% Combed, Carded, slub, rotor
Blend with Polyester/ Modal/ Viscose/ Lyocel, Grey Mélange, Cotton Mélange, &Slub
Better Cotton Initiative (BCI) 100% and blend with Polyester, Viscose, Modal& Mélange etc.
USA cotton (for contamination free)
Rayon yarn:

Modal/ Promodal: 100% Modal, Modal + Cotton, Modal Slub

Viscose: 100% Viscose, Viscose + Cotton, Viscose + Polyester, Viscose Slub Lyocel (Tencel or
Excel): 100% Lyocel, Lyocel + Cotton, LyocelSlub Bamboo: 100% Bamboo, Bamboo + Cotton,
Bamboo Slub
Fancy Yarn:

Neppy/ dot yarn, NeppySlub

Inject yarn (cotton + polyester/ Viscose), Inject Slub Siro (cotton+ Viscose/ Polyester/
Modal), SiroSlub
Slub (Any specification i.e. normal, short, long, and negative in any composition) S-twist
(Any composition), S-twist Slub
Compact (Cotton, Modal, Viscose, PC, CVC etc.)

Two ply/ Multi ply twisted yarn:

Count Range: Ring: NE 06 to NE 60, Rotor: NE 06 to NE 22

Polyester:

100% Polyester, Polyester + cotton (PC & CVC), slub, Polyester+ Viscose/ Modal/ Lyocell/
Linen, slub
Recycle Polyester (GRS Standard):

Recycle Polyester + Conventional cotton/ Organic cotton/ BCI/ Modal/ Viscose/ Linen

Tri Blend/ Multi blend:

Cotton+ Polyester+ Viscose/ Modal/ Lyocel/ Linen

Linen Blend:

Linen + (Cotton/ Polyester/ Viscose/ Lyocel)

Mélange:

Cotton Mélange (100% Cotton)

Gray Mélange (Cotton + Viscose 1% to 50%) PV Melange (Polyester + Viscose)
Cotton Modal Mélange (Cotton + Modal)
Polyester Mélange (100% Polyester), Poly Cotton Melange (Cotton + Polyester)

Price:

The amount of the company charged for a product or service, or the sum of the value that
customer exchange for the benefits of having or using the product or service called price.
The price of the product is determined by the accounts section of Square Textiles Ltd. The
account section determines demand by analyzing its previous sales volume. The company
market estimates are helpful in establishing the relationship between its product price and
the quality.As the company has an objective to stay in the market along possible with this
business, it has adopted the market based price policy.
Promotion:

Promotion, the marketing tools, standards for the various activities the company under take
to communicate its product’s benefits and to pursued target customer by it. In Square
Textiles Ltd, they do not have to take much promotional activities. Because of their
reputation that they never compromise with quality, that is their main promotional tools. In
the overseas market the company promotes its product by-Provide Sample, Brochure,
Collection, Attending international fair, CD supply, Participation in auction over internet, E-
mail, Fax, Various Journal, Cortex, Magazine etc.
Distribution/Place:
The strategy structure used to transfer product and service foreman organization to its
market. Generally the company is issued direct channel.GMS Composite Knitting Ind.
Ltdgives the order directly to Square Textiles Ltd.At first the companies try to fulfill the
buyer demand. If 5% lower or over production from the order then it will be acceptable by
the buyer in according to contract schedule. On the other hand when tile quality of tile
product is not as good as there requirement or expectation then they canceled it.
 Transportation:

Square Textiles Ltd. maintains its own transportation system for delivering product to their
customers.

GMS Composite Sales & Marketing Square Textiles Ltd.

Knitting Ind. Ltd Department

s & Marketing Department then Sales & Marketing Department gives order to factory to produce the product. And then fro

The extended Marketing Mixes of Service are:

People:

People all people who directly or indirectly influence the perceived value of the product or
service, including knowledge workers, employees, management and consumers.

People are the opportunities for an organization for developing economic conditions of a
country. So that a textiles industry like Square Textiles Ltd. can develop best key marketing
people to do better business by giving them proper training.

As a student marketing I think it will be better for the textiles industry if it is done properly
within the organization.

Process:

Process is the procedures, mechanisms and flow of activities which lead to an exchange of
value.

In Square Textiles Ltd. process is under supply chain management. If there any problem in
process then the whole thing will be hampered. For better process for both in factory and
also satisfying the customers Square Textiles Ltd. always take proactive action to maintain
the
process. For example, Square Textiles Ltd’s own power supplies system, not to hamper the
production process.

Physical evidence:

Physical evidence the direct sensory experience of a product or service that allows a
customer to measure whether he or she has received value. Examples might include the
way a customer is treated by a staff member, or the length of time a customer has to wait,
or a cover letter from an insurance company, or the environment in which a product or
service is deliver.

The employees of Square Textiles Ltd. are always give priority of their customers. The
company trained their employees to maintain a good relation with customers. They have
waiting room for customers and employees give to do the things in time as per customer’s
requirements.

Relationship Management strategies:

Butterflies True Friends

Good fit between company’s Good fit between
offerings and customer’s need; company’sofferings
High Profitability high profit potential. and customer’s need;
highest profit potential.

Strangers Barnacles
Little fit between company’s Limited fit between company’s
offerings and customer’s need; offerings and customer’s need;
Low Profitability lowest profit potential. low profit potential.

Figure-: Different relationship management strategy

Butterflies: Are profitable but not loyal. Good fit between company’s offerings and
customer’s needs. However like real butterflies, we can enjoy for only a short while and
they’re gone.
True Friends: Are both profitable and loyal. There is strong fit between their needs and the
company’s offerings. The firm wants to make continuous relationship investments to delight
these customers and nature, retain and grow them. It wants to turn true friends into “true
believes” who come back regularly and tell others about their good experiences with the
company.
Strangers: It shows low profitability and little projected loyalty. There is little fit between
the company’s offerings and their needs. The relationship management strategy for these
customers is simple.
Barnacles: Are highly loyal but not very profitable. There is a limited fit between company’s
offerings. For example- an Uttara bank customer who is regularly but do not generate
enough returns to cover the costs of maintaining their accounts. Like barnacles on the hull
of a ship they create drag. Barnacles are perhaps the most problematic customers. The
Banksmight be able to improve their profitability by selling them more, raising their fees, or
reducing service to them. However, if they cannot be made profitable, they should be
“fired”.
Operational Procedure of Square Textiles Ltd:

The main task of Square Textiles Ltd is producing various types of Yarns. Generally according
to the buyers demand the firm produces these Yarns. Like other organization Square
Textiles Ltd. also has various departments these are: – administration, accounts, marketing,
production and quality control. For Square Textiles Ltd. budgeting, financing and
administration work is directly supervised and controlled by its corporate office. Square
Textiles Ltd. management of raw material, production operation management, production,
quality assurance, storing finished goods, and a bit accounts’ maintenance is done by the
production department. Liaison office works as head office of the Square Textiles Ltd.
In this branch odder collection, production time and customer desired quality executing,
document processing, legal complicacy handlings, dealing with LC s’ and payments and
accountants maintaining, shipment, network maintaining with foreign and national buyers
is done. In textile most of the order comes from firm’s reputation, firma managements’
network and liaison and few comes from the new local buyers. The main function of the
organization may be divided into two parts as:
Export
Import.
The phases/ Functions in export procedure include:
Manufacturing Yarn
Ex-out the Yarns
Shipment the Yarns
Preparing documents
Receive foreign Currency.

Import/ Procurement of raw materials follow the under mentioned steps:

Order placing
Getting/Receiving Performa Invoices
Opening Back to Back L/C and Receiving raw materials

Environment of Square Textiles Ltd:

Marketing Environment:

Marketing environment of Square Textiles Ltd are the actors and forces outside marketing
that affect marketing manager’s ability to build and maintain successful relationships with
targeted customers. Marketing environment is divided into two parts microenvironment
and macro environment of the company.
Micro Environment:

Marketing micro environment contains suppliers, marketing intermediary’s customers,

competitors and public. In the case of Square textiles the component “Company” itself
almost works well with its departments. Square Textiles Ltd’s suppliers of raw materials
policy and cost of raw materials or inflation directly affect the macro environment of
Square. So quality ensuring is a big concern here. In the case of marketing intermediaries;
company fame, managers’ strong liaison/ network with business buyers are the main
strategy of Biswas to sell products. Government policies (favorable) are the main publics
here. C Square competitors’ of Square Textiles Ltd are local producers of Bangladesh.
Macro Environment:

Macro environments major forces of Square Textiles Ltd.’s are discussed below.

Demographic factor- South Asian region is suitable for textile industry. Big working
population and raw materials outsourcing facility, supports the industrial growth of
Bangladesh.
Economic factor- Low production cost, energy availability, workers availability and suitable
government policy is the economic factor for Square Textiles Ltd.
Technological factor-China machineries are available and cost efficient for Square Textiles
Ltd.
Political factors- Unstable political situation and various types of strikes plays negative roll
on Square Textiles Ltd.
Natural and cultural factors- Natural and cultural factors doesn’t play significant role in
macro environment of Square Textiles Ltd.
Market Segmentation:

The Global Segment:

In RMG sector it is a huge market for global market. Rise of China as economic power is an
issue in textile sector, because China has a great market of textile industry. Rising global
trade and WTO can open doors for doing trade globally in smooth ways. Intellectual
property protection is a big issue for doing business and keeps business safe from
competitors. Important political events like war can put some impact on this sector, but
overall clothing is very necessary for people and it’ll never be abolished. On the other hand
low cost suppliers can be potential for marketers.
Economic Segment:

Size and change in gross domestic product, Per capita income levels, Inflation rate, Interest
rates, foreign trade deficit or surplus, Unemployment and Rates of saving and investment all
together makes mass impact on textile industry. Per capita income level can increase of
decrease the purchase level and it can be good for the textile industry. But after

“©Daffodil International University ” 20

all clothing’s can be considering as a basic need of human being. That’s why it’ll never lose
its value if the price and quality can be in controlled.
Demographic Segment:

Size of population and growth rate is pretty good in this industry. Age distribution of
population also related and can make good impact. Cause target market of this industry can
be the any aged group. Education levels and income distribution also mass up with life style.
Income distribution and Ethnic diversity can be potential for this industry. Geographic
distribution may potential for this industry.
Socio-Cultural Segment:

Socio-cultural segment is also very important for any industry. It can control the purchase
behavior of the buyer group. Family relationships can put impact on purchase behavior of
an individual or group as a whole. Attitude about work and living arrangements also a fact
for purchase behavior. Lower living arrangement cannot be the high purchase condition.
Developed countries are the main importer of RGM products, and it is also the great
opportunities for Bangladesh. Styles of entertainment and changing life style also makes
variation for purchasing habits and creates new position for this sector. Attitudes toward
health make impact in both ways positively and negatively in this sector. Companies need to
rethink about health care as well as they can also introduce new organic clothing in the
potential market.
Technological Segment:

Technologies make the world closer and easier for everybody. Telecommunications and
Internet is the biggest issue for better communication. It also reduces cost of
communication and the list time consuming process. Online training is also the latest
concept of trade in globally. R&D can be very rich with new and innovative product and
process become easier to innovations.
Market segmentation:

Dividing a market into distinct groups of buyers who have distinct needs, characteristics, or
behavior and who might require separate services or marketing programs is called market
segmentation. A market segment consists of customers who respond in a similar way to
given set or marketing efforts.
Target Marketing:

The process of evaluating each market segments attractiveness and selecting one or more
segments to enter. A company should target segments in which it can profitability generate
the greatest customer value and sustain it over time.
Market positioning:

A product's position is the place the product occupies relative to competitors in consumers'
minds. Square Textiles Ltd. wants to develop unique market positions for their products. In
positioning its product, Square Textiles Ltd. first identifies possible competitive advantages
upon which to build the position. To gain competitive advantage, the company offer greater
value to target consumers by charging lower prices and offering more benefits than
competitors. As offering greater value, the bank also promises to deliver that greater value.
Once the Square Textiles Ltd. has chosen a desired position, it takes strong steps to deliver
and communicate that position to target consumers. The company's entire marketing
program also supports the chosen positioning strategy.
Company Current Position:

The net profit of Tk. 587,782,036 earned during the year 2013. It has been recommended by
the board of directors to be appropriated in the following manner:
Provision for proposed cash dividend for the year 2013 @20% (Tk. 2.00 per share) Tk.
268,840,542
Provision for Stock Dividend (Bonus Share) @10% (in the ratio of 10:100) Tk. 134,420,271
Transfer to General Reserve & Surplus Tk. 184,521,223

Market Share and Position:

Square Textiles Ltd has approved cash dividend at the rate of 20 percent and Stock Dividend
(Bonus Share) at the rate of 10 percent to its shareholders for the year ended 2013.The
approval came at the 19th Annual General Meeting of the company held at the Factory
Premises, Sardaganj, Kashimpur, Gazipur.
The gross profit, net profit (Before Tax) and net profit (After Tax) for the year 2012 were Tk.
886.75 million, Tk. 676.17 million and Tk. 564.76 million respectively.
Marketing Department of Square Textiles Ltd are control and compared actual with budget
under the following cost-
Selling
Warehousing
Packing and shipping
Promotional
Credit and collection
General accounting (for marketing)

When the expanses variance is adverse then corrective action and analysis the company
tries to find out why is to done. In many time the company cannot able to export their
product, which was expectation then the company take proper step to achieve the target as
per example the design teams along with business department staff were already in USA in
September 2001 presenting their collection. They were meeting all their existing customers
while targeting other big names, which are still not on their customer list. Some of these are
Wal-Mart in Mexico, USA and Europe, Federated store of USE, Hudson Bay of Canada. For
this reason after September I’ll 2001, hit the economies of the world the company going on
with successfully.
Competitive Position in the local industry:

Square Textiles Ltd. by nature operates in the weaving and finishing segment of the complex
structure of the Textile & Clothing industry of Bangladesh. The local textiles producers did
never exert threats to the company. Rather it is the textile giants in China, India, Indonesia,
Pakistan are the major competitors ofSquare Textiles Ltd. as the company’s perception,
because most of them operate in the same markets as like as Square Textiles Ltd.
In the local industry Square Textiles Ltd. is currently grabbing a big volume in terms of the
share in the export-oriented RMG market.
Present Scenario of the Textile Industries:
Bangladesh is the second largest exporter of readymade garment products trailing China
according to the McKinsey report (2011). Bangladesh’s garment exports during July-June
2012-13 period climbed by about 12.7 percent to US$ 21.515 billion over exports of US$
19.089 billion made during the corresponding period of 2011-12. In 2012-13, the top three
export destinations for Bangladesh garments were Europe, which accounted for US$ 12.56
billion, followed by the US and Canada, which accounted for US$ 4.99 billion and US$ 980
million, respectively. But now it has received bad news. Recent incidents like fire in the
Tazreen Fashions factory in November last year that killed more than 110 and the collapse
of the Rana Plaza garment factory building in April that killed over 1,100 people and more
than 2,500 were injured in the disaster. It may be the second biggest industrial accident in
recent history. As a result, The President Barack Obama-led US government in June
suspended Bangladesh from the Generalized System of Preferences (GSP), which allows
duty-free entry of over 5000 goods to the US market from least developed countries. Now,
RMG products (which make up most of the US import from Bangladesh) are not included in
the list of duty-free products in GSP, there will an export fall of about $40 million .At
present, Bangladesh exports about $5 billion worth of goods to the USA every year and
hence, the suspension from US GSP will account for a fall in export of about 0.8 %. Losing
the GSP facility will cost Bangladesh millions of dollars in taxes. It is also influence the
European Union to take similar action, which would have a much bigger impact on
Bangladesh and its garment sector.
Labor cost & its competitors:

Country Labor cost per hour Country Labor cost per hour

Thailand $ 1.00/Hour Indonesia $ 0.40/Hour

India $ 0.60/Hour Pakistan $ 0.40/Hour
Sri Lanka $ 0.45/Hour China $ 0.35/Hour
Vietnam $ 0.40/Hour Bangladesh $ 0.25/Hour

(Source: BKMEA websites)

Energy cost and its competitors:

Country Cost/KwH
India $ 0.095/KwH
Pakistan $ 0.08/KwH
Bangladesh $ 0.07/KwH

Energy cost in Bangladesh in lower compared to India and Pakistan (Source: BKMEA
websites)

Life Cycle of Square Textiles Ltd:

Yarn Life Cycle

6,000,000,000
5,000,000,000
4,000,000,000
3,000,000,000
2,000,000,000
1,000,000,000
0 Annual Turnover

2005 2006 2007 2008 2009 2010 2011 2012 2013

Annual Turnover:

Year Turnover (Taka)

2005 2,390,978,521
2006 2,620,965,931
2007 2,541,542,767
2008 3,052,235,640
2009 3,882,244,010
2010 4,445,402,112
2011 5,247,748,947
2012 5,431,437,667
2013 5,238,437,265
 Yarn Life Cycle
1,200,000,000
1,000,000,000
800,000,000
600,000,000
400,000,000
200,000,000
0 Gross Profit

200520062007200820092010201120122013

Gross Profit

Year Gross Profit(Taka)

2005 543,160,060
2006 579,900,538
2007 582,846,363
2008 463,215,904
2009 533,373,721
2010 886,759,262
2011 1,085,336,475
2012 988,529,485
2013 948,720,329

The turnover decreased by during the year 2013 in comparison to 2012 due to decline
ofUSD/Taka conversion rate and decrease in production for power shortage and
politicalunrest. Gross profit decreased and Net profit decreased due to increase in unitcost
in the year 2013 than 2012.
From the year 2005 to 2012 there is radical improvement in Square Textiles Ltd. Although in
2013 they increase their production units and that’s why they are not loss.
SWOT Analysis of Square Textile Ltd:

SWOT Analysis

Internal Factors External Factors

Strengths Weakness Opportunities Threats

Strengths: attributes of the person or company those are helpful to achieve the objective.
Weaknesses: attributes of the person or company those are harmful to achieve the
objective.
Opportunities: external conditions those are helpful to achieve the objective.
Threats: external conditions which could do damage to the objective

Strength:

Square Textiles Ltd. is a rapidly expanding company. After starting its journey in 1998 it has
already doubled the net turnover by the year of 2013. All the units of the factory enjoy
higher use of machinery that is imported from Germany, Switzerland, Italy & Japan. As a
result it can maintain a smooth rate of production. Well trained human recourses are
strengths of the company. They train up their key personal within the country and in
abroad. In this way the company can get some competitive advantages over the
competitions. The HRM practice is also remarkable in Square Textiles Ltd.
Weakness:

Square Textiles Ltd. is highly dependent on Cotton. And raw materials of cotton are
becoming expensive. Sometimes transaction time at Ports and transportation time create
many problems there. And the higher taxes, power and interest rates are also included in
weaknesses of this textile company.

Opportunity:

There are bright opportunities for the Company in the overseas market. If it can
communicate well and capture a significant market portion in the Europe and USA market,
it can be the leader in textiles fields. Growth rate of Domestic Textile Industry is increasing.
Besides this, Product development and Diversification are also happening to cater global
needs.

Threats:

For Square Textiles Ltd. Competition level is increasing both in local and abroad market.
And the competition will be stiffer among the other foreign competitors like Sri-lanka,
China, Pakistan and India are prominent. To balance between demand & supply and price &
quality are also included in threats this company.
Findings:

Lack of software system:

At present Square Textiles Ltd is using their own software for operating the organizational
task, but it is not online basis software.
Shortage of backup:

Because of the software not online basis so the backup of the files is very important.

Doing business only in local market:

As we know that Square Textiles Ltd is a 100% export oriented company and they only deals
with the local customers.
Lees experienced employees:

Lees experienced employees performing the marketing sector. They are not well-
experienced to satisfied customer.
Less number of employees:

Again, at front desk there is less number of employees for the account opening task as well
as dispatch related works. So, it takes a bit longer time to finish off his or her job.
Recommendations:

Creating online basis software:

At present Square Textiles Ltd is using their own software for operating the organizational
task, but it is not online basis software. If any occurrence happens then the whole
department has to suffer for this problem. So if they upgrade the system then that could be
more effective for operating the task in organization.
Ensuring the backup:

Because of the software not online basis so the backup of the files is very important. Using
of software reduces environmental pollution like less using of paper but company’s
important documents can be under risk. So the company should more aware of the backup
and ensure that they have the documents backup.
Export directly in abroad:

Square Textiles Ltd not only competes with local textiles industry within our country but
also in global market. As we know that Square Textiles Ltd able to manufacture almost all
kind of yarns, so they can export yarn in India, China and also other country.
Appointing more Peoples:

Square Textiles Ltd. has a huge number of customers, suppose 200 but a group of six
members is not sufficient to handle them properly. So if they appoint more skilled people
that can make it easy to cope up with regarding task that can make more customers,
because of more customers the demand of product will be increased. So Square Textiles Ltd
can make more profit.
Adding Research and Development team with Sales and Marketing Department:
Although Square Textiles Ltd. has Research and Development department but if they add an
open R&D team with Sales and Marketing department so that customers can easily consult
with them and then they come to marketing department. Now it’s a lengthy process
because firstly marketing department consult with R&D then they discuss with customers.
So if they do that it will reduce more time like 24 office hours.

“©Daffodil International University ” 30

Conclusion:

Lots of new textiles industries have been established in last few years and these industries
have made this sector very competitive. So, now textiles industries have to organize their
operation and do their operations according to the need of the market. Textiles industries
no more depend on a traditional method. In this competitive world this sector has trenched
its wings wide enough to cover any kind of financial services anywhere in this world. The
major task for textiles industries, to survive in this competitive environment is by managing
its assets and liabilities in an efficient way.

Business line of this company in manufacturing and marketing of high quality Yarn, which
have large, yet share in textile sector in Bangladesh. If the Square Textiles Ltd. wants to
complete with world class textile industries, they must have analyzed about marketing
distribution channel, price margin maintains by them and the promotional activities given to
traders etc. In order to know the current marketing management system of this companies
they must have to do market research.
Bibliography

References: Books
David W. Cravens & Nigel F. Piercy, Strategic Marketing 8th Edition, Inc, Singapur, 2006.
Philip Kotler, Marketing Management 11th Edition, Inc, USA, 2003.

Philip Kotler, Principles of Marketing 13th Edition, Inc, USA, 2005.

Websites:
http://www.fiber2fashion.com, retrieved on 15/09/2014 at 6p.m.

http://www.squaregroup.com/textiles, retrieved on 10/10/2014 at 10p.m

http://textilebulltin.com/present situation-rmg-sector-bangladesh-2013, retrieved on
10/10/2014 at 10p.m.