Within the US alone, a guessed 9,000 fairs or trade shows attract more than 65 million people annually. The Canton fair within China includes a legend. China (Ministry of Commerce) has been organizing the fair since the year 1957 and is thought to be the most successful trade show any place worldwide. Spread over a locality of 630,000 sq. m., 41,000 stands with 15,000 exhibitors show more than 150,000 varieties of items to people from more than 203 countries. In certain terms – a fully organized trade event delivers these advantages:
- Lead generation – from agents, distributors, buyers
- Market Intelligence – gain competitor insights, innovation previews, market trends
- Public Relations Exposure – in-show awards, speaking opportunities, media
- Chance to interact with a variety of service providers, field associations, marketing channels, logistics partners, and so on
Understanding how a trade event fits within your total market plan is important to working out certain advantages your company/product needs and choose matching trade events and display media.
A Trade Fair as a Communication Tool
As it’ll come to range (effectiveness) and efficiency, trade events include the communication instrument of choice as they’ll permit businesses to interact with clients one-on-one and gather live marketplace feedback.
Trade events are a reflection of the physical world – a duplicate of the actual market within a simple-to-deal-with form. It’ll bring representatives from the demand and supply sides of a field together upon the same platform for a limited length of time. It’ll give participants comprehensive marketplace data and will serve as a platform for contacts.
During the same time, trade events permit businesses to utilize a full spectrum of marketing tools that they’ll possess at their disposal. Tools which promote sales – well-known as the marketing mix – associated with communication policy, distribution, price, and product. As a business participates within a trade event, all these areas simultaneously are activated and concentrated on certain targeted groups.