Targeting follows market segmentation, and here West Fraser needs to select the appropriate Target strategy for its potential market segment. The company has three main market segments that they want to focus on and include into their business strategy for economic growth and development. West Fraser should develop the appropriate criteria to evaluate the three market segments. The company desires to attract consumers from the three markets, as they are equally valuable to the economic development of the company. West Fraser applies a differentiation strategy in the production of a vast category of wood and lumber products to meet its different consumer needs. The company supplies wood products to individual clients as well as companies dealing in construction and pulp paper milling. The largest market size is composed of construction companies and residential building prospectus. The real estate and construction business is steadily rising, and since West Fraser deals with lumber production and supply, there is a need to develop strategic partnerships between construction companies. Construction companies, residential owners and real estate agents in the demographical segmentation provide the most structurally attractive group. It composes of a vast group of clientele who are will to spend money provided they attain value for their money. The group would invest in the best category of wood and lumber products for construction developed by West Fraser Company. As such, they form the most potential target group who offer the company massive sales and promote the increase in the profit margin.
West Fraser main objectives include;
Although West Fraser primary target market comprises of business in the construction industry that includes, real estate’s agencies, construction companies, residential, official and institutional prospects among others, it also targets its other clientele. The company also supplies pulp paper to paper milling industries across North American. West Fraser is keen on customer relationship management; therefore the company ensures the production of quality products and delivery services across its domestic and international consumer bases in North American. The company plans to dominate the North American market before spreading to foreign markets in neighboring South America and other continents across the globe. West Fraser has chosen to target businesses in the construction industry as the primary target group that would drive the company business strategy of global expansion, increased sales and strategic marketing activities.
Positioning discusses the core frameworks a company applies to establish its marketing plan and business strategy for growth. After creating the target market, from the selection of the potential market segments, the marketing team should develop an appropriate marketing program that will assist the company to achieve its goal of infiltrating its target markets. West Fraser marketing positioning provides a suitable platform for the brand to expand its consumer base in the United States. The company should apply appropriate marketing strategies to facilitate the West Fraser Brand to get through to its target market in the United States. West Fraser is currently, the largest producer, distributor and supplier of timber and lumber products in North America. The company has 45 manufacturing outlets distributed across the Southern United States and western Canada. West Fraser actively participates in Corporate Social responsibility through ethical sourcing of timber and involvement in environmental protection initiatives by planting more trees. As such, the company has the opportunity for growth to other regions in the United States. Currently, its outlets concentrate in states such as; Mississippi, South Carolina, Ohio, Alberta, Virginia among others.
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