TRADE FAIRS

What Are Trade Fairs● A trade fair (trade show or expo) is an exhibition organized so that companies in a specific industry can showcase and demonstrate their latest products, services, study activities, research etc. and examine recent trends and opportunities in the industrial sector.

● An exhibition at which members of a specific industry exhibit or demonstrate their products to prospective Customers and to each other

Consumer fairs are open to the general public Trade shows can only be attended by company representatives

(members of the trade and the professionals) and members of the press. Trade shows are specifically classified as either "Public" or "Trade Only". A few fairs are hybrids of the two; one example is the Frankfurt Book

Fair, which is trade-only for its first three days and open to the general public on its final two days.

Each trade shows are held on a periodic basis as bi-annual, annual, biennial, triennial etc.

An international trade shows normally attract companies from around the globe.

Some countries are specified as trade fair countries depending upon the number of trade fairs taking place in a calendar year.

For example, In Germany alone hosts some 5500 trade shows in a calendar year and in the U.S. there are currently over 2500 trade shows held every year.

The organizers of the trade shows and the respective industrial sectors have established several online directories to help organizers, attendees, participants and marketers to identify their most appropriate trade events.

Some Facts About Trade Fairs

Trade fairs often involve a considerable marketing investment by participating companies.

These includes space rental, design and construction of trade show displays, telecommunications and networking, travel, accommodations, and promotional literature and items to give to attendees.

In addition, costs are incurred at the show for services such as electrical, booth cleaning, internet services, and material handling etc.

Consequently, countries and some cities often promote trade shows as a means of economic development.

Exhibitors participating in the event are required to use an exhibitor manual or online exhibitor manual to order their required services and complete any necessary paperwork such as health and safety declarations.

An increasing number of trade fairs are happening online, and these events are called virtual tradeshows.

Now the virtual trade fairs are increasing in popularity due to their relatively low cost and because there is no need to travel whether you are participating as a visitor or a exhibitor.

Trade Show Objectives (Exhibitor)● There are many reasons why a company participates in a trade show, but it is

important that a company spell out its objectives before making this decision of participation.

● These objectives can include: To make sales contacts; To maintain an image and continuing contact with the existing customers; To initiate contact with new customers; To introduce a new product or service; To demonstrate equipment and research findings; To offer an opportunity for customers to bring their technical problems and obtain

solutions; To obtain feedback from booth visitors; To relate and to evaluate to the competition etc

● The most common objective, of course, is the first one[ to make sales] and the trade show can play a unique role in leading a prospective buyer from mild interest to the decisive act of placing an order.

● While making sales and sales contacts is the most common objective of an exhibit, it is certainly not the only one. Participation in a trade show is a good way to sharpen one’s sensitivity to the conditions of the marketplace.

● At a trade show, you can sense the general attitude of people more rapidly than any other way.

The trade fair objectives should be coordinated within the scope of medium-term corporate planning with the corporate and marketing objectives.

Trade fairs provides a multifunctional dialogue platform to make it possible to put the focus on communication objectives.

At the same time, it is necessary, however, to formulate objectives so clearly that success can be measured (potential business association, Knowledge about the trend, Changing consumer habits , Facilities offered by any particular nation or the region.

Visitor participation general consideration Selection of trade fairs (Based on history and records) Budget allocated and permission Procedure and time schedule Selection of exhibits of interest Registration and organizational registration procedures Various fair stand positions Stand personnel routine, duties and activities Public relations and communication opportunities Follow-up methodology to monitor success Befits from the seminars (if any)

Trade Show Objectives (Visitor)

Some other objective includes Reactivating inactive clients Cultivating press contacts Concluding cooperation agreements Acquiring distributors and suppliers Acquiring new employee Analysis about state of the sector Observation of the competition (information about price,

product and policies of the competitors) Monitoring of competitiveness Requirements of the target groups consumer behaviour Reactions of the target group to innovations Identification of market niches Information about innovations and market trends Available export opportunities