Trade events can be crucial aspects of a firm’s marketing mix. This modern day version of the central marketplace is often badly understood and overlooked by a lot of corporate design makers seeking efficient and effective ways to promote the firm’s services and product.
Compares non-exhibitors and exhibiting firms, examines major distinctions between the two groups, and provides a profile of non-exhibiting firms Analysts repeatedly insist that a company should establish its aims regarding marketing communications, exhibition stand design pricing, conditions, distribution and merchandise before part in a trade fair.
A company need objectives to set down its medium term strategic aims as the basis for a concept underpinning its participation in trade fairs as part of the marketing mix and to derive the objectives to be pursued at trade fairs from the marketing goals.
General trade fair objectives could be:
Checking out new markets (locating market niche categories)
Creating successful relationships
Increasing sales volume
Determining the general competitiveness
Evaluating export chances
Getting involved in professional events
Spotting new trends
Leveraging into new markets for products
Examining the actual industry situation
Increasing advertising and marketing effect on customers and the general public
Enlarging the range of customers
Expanding media activities
Implementing a corporate design / branding measures
Meeting new categories of customers
Expanding brand awareness
Further training for research and sales by sharing and exchanging
Dealing with individual customer requirements and client requirements
Cultivating existing business relations
Testing market responses to products and services
Testing market responses with a newly introduced product
Expanding the product rangePresenting product or service innovations
Customer-oriented exhibitor targets
The objectives pursued by trade visitors in addition provide exhibitors with suggestions for their strategic planning. These also influence strategic considerations. You could generate these as visitor-oriented exhibitor objectives.
Some of the objectives pursued by trade visitors are:
Obtaining ideas for company products and product range
Reaching new business partners, intensify existing contacts
Exploring new services and the range of applications
Comparing prices and conditions
Looking for certain products and solutions
Attending conferences and special shows
Placing orders, negotiating agreements
Making contact with comparable companies
Getting a summary of related markets
Finding the economic situation and business prospective buyers
Discovering the technical functions and nature of certain products and services.