Marketing for Wood Products Companies

VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY VIRGINIA STATE UNIVERSITY Virginia Cooperative Extension programs and employment are open to all, regardless of race, color, religion, sex, age, veteran status, national origin, disability, or political affiliation. An equal opportunity/affirmative action employer. Issued in furtherance of Cooperative Extension work, Virginia Polytechnic Institute and State University, Virginia State University, and the U.S. Department of Agriculture cooperating. J. David Barrett, Director, Virginia Cooperative Extension, Virginia Tech, Blacksburg; Lorenza W. Lyons, Administrator, 1890 Extension Program, Virginia State, Petersburg. VT/028/0100/1M/202390/420145 *Extension Specialist, Forest Products Marketing, and Graduate Research Assistant, respectively; Virginia Tech Marketing: Why it is Vital to Your Firm No matter the size of the company, the principles of marketing applied properly can improve one's profitability. Marketing is an evolutionary process that links firms to customers. Marketing encourages the exchange of goods and services for money in a way that is profitable to the firm and satisfying to the customer. The marketing process is constantly being adjusted and tailored to different situations based on three strategic business factors: the company, the customers, and the competition. It is important that wood products' organizations and their managers be aware of how these three factors interact and constantly adjust business strategy. It must never be over-looked that marketing is the income generating activity of the firm. Marketing is also the function of the firm that reaches out to customers and communicates with them. Regardless of how good the product is, without acquiring satisfied customers, and the business that they generate, wood products' firms will not be able to operate at their optimal profitability level. Marketing is the mechanism through which this can be achieved.