Integrated Marketing Communications Essay Example | Topics and Well Written Essays - 2750 words

Integrated Marketing Communications - Essay Example The increased demand supply dynamics has also helped in increasing the prices of the products which has boosted the bottom line profitability of the participants of the timber industry. This also represents a challenge as higher price of products may lead to instances where the customers would switch over to the alternate products. The benchmark index of the timber industry namely the Softwood Wood Fiber Price Index (SFPI) and the Hardwood Fiber Price Index (HFPI) showing increase of 16.5 percent and 17.7 percent respectively in the year 2010. The increase in prices was uniform across all the regions of the world with the exception being Southern United States. USA, Sweden, Brazil and Spain were among the regions where the margins or price rise were the highest. The financial crisis had its negative impact on the products and profitability of the timber industry. ... Certain formidable challenges for the timber industry include repositioning of the image of the industry. In addition to these certain other issues include handling issues of climate change and carbon footprint. The nature of the industry makes it prone to criticisms with regards to environmental issues. Deforestation and greenhouse effect which are directly linked to deforestation lead to severe challenges for the participants of the industry with regards to compliance with the environmental laws and other legislations (Urtubey, n.d.). A report by the United Nations states that approximately 13 million hectares of the land in forests were being deforested and used for other purposes (Food and Agricultural Organization of the United Nations, 2011). The challenge for market players emerges as to devise strategies that would help in convincing the suppliers as to maintain compliance with legislations and to generate profitability and sustainability. Another formidable and important iss ue is the threat from substitute products. The advent of electronic communication and internet has eroded the attractiveness and the usefulness of the participants of the timber industry. Moreover with widespread campaigning against use of paper has again emerged as a formidable challenge to the market players. It remains a challenge for the market players to ensure product modifications and formulation of strategies that would help in projecting the image of the product as an eco friendly and un-substituted product. Diversifying into areas like packaging can help the organizations gain new market opportunities and generation of long term