Posted by Tool Man | Posted in Woodworking Tools & Wood | Posted on 23-01-2006
Fairs are still relevant? In this age of Internet and electronic commerce - how valid are the fairs? We will discuss the issue threadbare
Fair trade is a very expensive marketing channel. Furthermore, the considerable monetary investment, we must solve major logistical challenges. If participating in trade fairs abroad, the challenges are many, such as the removal of visa classification for the language barrier on the promotion commerce site, etc.
Even after attending all these problems and spending considerable amount of money - not yet sure what kind of return to expect from the investment. Naturally, one would expect that the popularity of trade fairs to decrease with time.
However, what we see on earth is opposite - Trade fairs are increasingly popular worldwide.
In the U.S., an estimated 9,000 trade fairs or exhibitions attract more than 65 million visitors a year. Canton Fair in China is a legend. Ministry of Commerce (China) has been organizing this fair since 1957 and is considered one of the commercial events most successful anywhere in the world. Spread over an area of 630,000 square meters, 15,000 exhibitors display is 41,000 with more than 150,000 varieties of goods visitors from over 203 countries.
Fair Trade is very popular among Indian manufacturers and exporters - a fact evident from the resounding success of the India Trade Promotion Organization (ITPO), which organizes more than 50 fairs and exhibitions every year.
Fairs Why are they important?
A survey by the Emnid Institute (Germany) in 2004 on behalf of AUMA October (Ausstellungs-und Messe-Ausschuss der Deutschen Wirtschaft) requested the rate of 500 companies of the importance of the communication tools of communication in its mixture using a scale from 1 = very important to 5 = totally unimportant. The Following is the result of this survey:
1. Fair Trade / Exhibitions 76%
2. Personal Sales / Service 75%
3. Direct Mail 62%
4. Advertising in Trade Magazines 59%
5. Public Relations 43%
6. Events 39%
7. Internet Promotion 39%
The reason for Fairs such popularity is not far to seek. Ask any marketing guru what he / she considers the most important elements of any marketing unit and the answer will
1. Ability to reach right target
2. Ability to launch the right products to the right buyers
3. Opportunity interact with the real buyers one-on-one and get feedback
4. Opportunity for Brand Building and public relations exercise
Trade Fair - with all its accompanying difficulties and the expensive nature - meets all of these marketing objectives. Specifically - a well-organized and fair offers following benefits
* Generating business opportunities - of buyers, distributors, agents
* Market Intelligence - get insights competition, market trends, innovation under
* PR awards of the exhibition - the media, the opportunities to speak, in-show
* Opportunity to interact with various service providers, industry associations, associated logistics, marketing channels, etc.
Learn how Fair Trade fits into your overall market strategy is the key to the development of specific benefits of your product / business needs and select programs of marriage and the means of display.
Fair Trade as a communication tool
When it comes to efficiency (range) and efficiency, trade shows are the communication tool of choice, allowing companies to interact with clients one by one and collect market feedback in vivo.
Fair trade is a reflection of the physical world - a replica of the actual market in an easy to handle. Bringing together representatives supply and demand of an industry together on one platform for a limited period of time. It gives participants information on the global market and serves as a platform for business contacts.
At the same time, fair trade allows companies to use full range of marketing tools at their disposal. Instruments to promote sales - known as the "marketing mix" - related to product, price, distribution and communication. When a company participates in a fair, all of these areas are simultaneously active and focused on specific groups.
Participate or Just attend?
This is a very important question every company must address. If you are making initial forays into a target market and its main purpose is to understand the dynamics market, then the simple assistance can be the right choice. In any case, is more responsive to attend a trade fair several times before deciding to participate. There are several fairs directory to help locate suitable fairs for their products.
However, If you already have some presence in a target market and plan for consolidate its presence in the market with more customers, agents, distributors, media, PR etc - then participation can yield rich dividends.
For example, if you have multiple clients in a country of destination, which are geographically dispersed - participation in a trade fair can be a profitable option as it not only demonstrates the commitment of the market, raising its profile and enjoy other benefits of the exhibit, but also potentially saving time and money having to fly across the country to meet clients in their territory.
Conclusion
Fair trade is an option formidable marketing for any business - if used judiciously and after much deliberation. Careful planning and execution is essential to ensure a healthy return on this considerable investment. No company can afford to dismiss this marketing option, nor can afford adopted in a hurry.
About the Author:
Amit worked in blue-chip Indian and overseas MNCs for 15 years in various capacities like Research and Information Analysis, Market Development, MIS, R&D Information Systems etc. before joining bandwagon of on-line business in 1997. He now advises a number of Indian b2b portals on trade over Internet and writes e-commerce related trade articles for Indian suppliers portal . You can find more articles of Amit on e-commerce export import at The Great Indian Bazaar portal.
Article Source: ArticlesBase.com - Trade Fairs - Are They Still Relevant For Export Marketing
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