TRADE FAIR PLANNING

 

TRADE FAIR PLANNING

DEFINITION

Trade fair is an event in which firms belonging to the same industry present their products and services in a defined setting to prospective clients, end-users, retailers, wholesalers, and distributors. Some trade fairs have a massive audience as they can attract visitors and participants from every nook and corner of the world.

MEANING OF TRADE FAIR

Trade fair is a massive stage that provides widespread exposure and interactions. It is one of the most popular means of promotion and gaining recognition as participants can meet customers and industry partners, examine opportunities and market trends, study the activities of their competitors and showcase their latest services and products to one and all.

Some trade fairs are open to the general public, whereas others are open only to the company representatives and media personnel.  Some of them are hybrid and allows some days for public viewing and some for corporate members.

Trade fair is commonly also known as

·         Trade show

·         Expo

·         Trade exhibition

 

IMPORTANCE OF TRADE FAIR

The importance of trade fair is as follows-

·         Helps to launch new products or services – The importance of a trade fair is that it is generally used by organizations as a ground to launch new products and services and do initial testing about them. Video presentations, product demonstrations, free trials, and free samples are some of the best ways to lure in potential customers and gain a consensus about the brand and its offerings

·         Helps to create lasting impressions – A trade fair offers numerous options of interaction with potential clients, customers, and even rival companies. A well-designed booth is one of the best ways to promote the brand image and encourage others to view the products and services. When companies offer an enhanced booth experience by drawing the attention of its target, it leaves a long-lasting impression on their mindset. This promotional activity captures and increases potential client engagement so that they can become actual clients of the company

·         It is a place for personal interaction – Personal or face-to-face interaction can influence the other party very quickly. Trade fair provides this opportunity to the companies who have their stall or booth in it as they can engage with potential customers and make them understand the value of the goods and services on display. The presentation and subsequent conversation matter a great deal as this is the time when the potential customer tilts in your favor and becomes a client of your company. The personal interaction helps in closing the deal with a minimum of fuss

·         Lead generation potential – Most of the trade fairs are very popular and have been able to account for a massive attendance. Remember, every one of the people in attendance is a potential lead waiting to become a regular client. Trade fair is one of the best places to make and develop contacts, give business cards, make a presentation and get a viable opportunity to impress others. Make sure to follow up by contacting them when the event is still fresh in their minds.

·         Direct sales opportunities – A trade fair is a specific industry-related market, and the people who visit them are most probably on the look-out for relevant or related products and services. It gives a company the chance to gain direct exposure for its products and services in front of its target audience. Be ready with your statement so that you can create a favourable impression. The personal meeting is the best way to create opportunities for direct sales and make sure that you are not going to let it go to waste

·         Cost-effective networking – Renting a booth for a trade fair, travelling to and fro with a team, designing your box and paying for meals might look like unnecessary and additional expenses at the onset for a single event. Still, if you look at it from another angle, it surely is an investment in the future. The business that a company receives after the trade fair is generally far huge than the investment and this fact is the reason why organisations love taking part in it. It is cost-effective networking that can lure in potential customers and make them your loyal ones

·         Levels the marketing field – Trade fair is one of the most popular platforms for organisations belonging to the same industry. You will find all sorts of business entities participating in it from locally-owned entities to companies at national and International levels. One of the most exciting things about a trade fair is that it gives ample opportunities to every company so that they can explain their viewpoint to potential clients irrespective of the size of their company. Trade fair levels the playing field, and this is one of the reasons why it is considered so important in industry circles.

FUNCTIONS OF TRADE FAIR

Trade fair revolves around demonstration, discussions, and presentation in the booths to conduct the following functions

·         Trade marketing

·         Business-to-business sales

·         Competitive intelligence

·         Customer marketing

·         Brand visibility

·         Media relations

·         Industry marketing

 

ADVANTAGES OF TRADE FAIR

The advantages of the trade fair are as follows-

·         One of the advantages of participating in a trade fair is that it gives the company a chance to sell their products and services directly to the customer

·         It provides personal contact so that the company representative can interact with potential clients directly without any middlemen or interference from others

·         Trade fair is considered a cost-effective promotional strategy by the organizations because the initial cost of renting a booth and related expenses is very less if you compare it with the amounts the company spends as part of their promotional or marketing strategies.

·         Trade fair helps to zero in on your target market, identify the target audiences and target them so that they ultimately become customers of the organisation. Even if the fair is for a day or a few days, it leaves a long-lasting impact on the mindset of the customers

·         Trade fair is a perfect place to launch new products and services. Several representatives of different companies visit these places to view and learn about new brands, new products and of course, unique solutions that have been recently launched.

·         Trade fair is beneficial as it provides more personal time with the client. It is a perfect place to engage in real-time interaction and conversation with your target audience

·         Trade fair is a platform for personal interaction, and this direct communication helps to build a one-on-one relationship that can prove beneficial in the long-run. If the connection proves fruitful, it can help in establishing a widespread client base that belongs to different parts of the country and sometimes even offers global exposure

·         Strong and deeper connections with potential clients can open several other channel. The new leads provide ample opportunity to tap the uncharted market that had been a distant horizon until now

·         Trade fair is considered a hunting ground that helps to identify potential clients

·         It aids in the networking process because you meet with numerous people who become impressed with the offerings. This results in profitable alliances for the company

·         Trade fair allows small business entities opportunities to make contacts and establish a market base of their own. They can reach out to several clients at once that in the typical setting would have been impossible for them.

·         Trade fair offers an opportunity to hand out pamphlets and brochures, explain about their products and services, provide promotional samples and increase product and service awareness in the consumer market

·         Trade fair gives organisations ample opportunity to scope out the products and services of their competitors and use the acquired knowledge for further gain.

·         Trade fair is open to a broad audience of varied interest, and it gives the company a chance to promote to a more extensive and diversified group who might not have been aware or knowledgeable about its products and services

·         Organisations consider trade fair a good ground for testing out new products and services and garnering general opinion about the offerings

·         Trade fair is one of the best platforms to create brand visibility, loyalty, and credibility in the market. It results in higher sales and more significant revenues for the organisation

DISADVANTAGES OF TRADE FAIR

·         There are several expenses involved in the trade fair that are not possible for new companies to mete out at their initial stages. It is not only about the booth and design of the booth along with travelling, lodging and food expenses. It is also about time and effort that is involved before; during and after the trade fair long comes to an end.

·         Another disadvantage of a trade fair is that one organisation is judged against another because both are placed at the adjacent corners, and it is easy to make comparisons of their products and services

·         Sometimes things get out of your control, and even if you have done everything right, it is not possible to make a mark of your own. Companies should be prepared to face any eventuality

·         Participating in the trade fair is a lot of work, and it often proves hectic and stressful

·         With so many tasks and responsibilities involved with the trade fair, it looks overwhelming for most companies especially first-timers

·         Excessive frequency of trade fairs makes it difficult for companies to chose which one they should attend and which ones to ignore. Sometimes the ones that are ignored have the best footfall and thus proves disastrous for the company.

 

CABINETS AS STORAGE IN OFFICE

 CABINETS

1. When it comes to offices, Office Cabinets are great space saver. The user can store

anything from files to stationery items used in the office in the cabinets in secure

manner.

2. Cabinets are the nifty way to store your things in proper order and safe in any place.

The user can store almost anything in the cabinets without any hassle.

3. Storage cabinets are very useful for offices as they allow users to store and maintain

their files and documents appropriately, without any formation of clutter.

4. There are different kinds of storage cabinets designed in such a way that they meet the

storage requirement of the user.

5. These cabinets help one to maintain files in an organised manner, while utilising storage

space.

6. Storage cabinets can be the appropriate solution for both office users as well as

domestic users.

7. They can be placed in any corner of room as they are available in a variety of sizes.

8. Storage cabinets can be used for storing documents, files, tape files, machinery or tools.

In addition, storage cabinets can provide about twice the storage capacity compared to

common shelving.

9. The user can also store dangerous sharp objects in a cabinet instead of storing it on an

open shelf.

10. Today, almost all types of storage cabinets include a door that can be locked for security

purposes. One can also find drawers that have a locking device for additional security.

11. The most commonly found storage cabinets are made from plastic, wood or even metal.

There are many storage cabinets one can find that are resistant and they make an ideal

choice for offices.

USES OF CABINETS

Cabinets come in various formations based on operation and usage. And also, the cabinets can

be found in many varieties like size, finish, colours, etc and materials. The user can simply

mount the cabinets on the wall in high or low position or place cabinet against the wall in the

corner.

1. Office needs space to keep their file, documents, stationery and other necessary things

intact for proper functioning and activities.

2. Without a proper organization of the things, office may look tactless and can also stall

the actions. That is where the Storage concepts like Office Cabinets are taken into

consideration.

3. For office storage, Cabinets are the ideal for storing office stuff, such as books,

documents and other important files. And even a great add-on to office interiors and

design.

4. Before making any cabinets arrangements in your office space, it is vital to decide

which type, size and where you want to install the cabinets to be concluded.

5. First decide for what purpose you need a cabinet – for storing, for displaying or for

accessing the things, depending upon your usage.

6. Next, decide where you want to install and size of each size in the cabinets and other

properties like lock or magnets features. And finally, decide which type like finish,

material and colour you want for office.

IMPORTANCE

1. Every office faces the challenge of where to store all their files, tools and miscellaneous

equipment.

2. Storage cabinets have been found to be highly effective in terms of storage, as well as

organization of the office.

3. They tend to be inexpensive and do not take up too much space.

4. Storage cabinets are very useful as they allow workers to store and maintain their files

and documents, avoiding the issue of clutter.

5. There are different kinds of storage cabinets that are made to suit different needs. These

cabinets help you to maintain files in an organised manner, while optimizing storage

space.

6. Storage cabinets can be a great solution for both professional offices and home offices.

7. They can be placed in any corner of a room because they come in many different sizes.

8. They can be used for storing documents, files, tape files, machinery or tools. In addition,

storage cabinets can provide about twice the storage capacity compared to common

shelving.

9. One can also store dangerous sharp objects in a cabinet, keeping it from damaging

anything or anyone.

10. Most storage cabinets include a door that can be locked and also drawers that have a

lock for additional security.

11. The most commonly found storage cabinets are made from plastic or metal. This adds

an element of safety and privacy. It is excellent for offices that deal with confidential

information.

12. It cannot be denied that storage cabinets offer a wide range of benefits that make the

office more functional and productive.

13. They have copious amounts of space, versatile use, security and prevent the office from

becoming cluttered.

ADVANTAGES

1. The best advantage of a cabinet is perhaps their ability to hold large amounts of files

without taking up too much floor space.

2. Cabinets also make it possible for employees to categorise and store files and folders.

3. This makes it easier for employees to retrieve Information and increase productivity.

4. Having all the necessary files and folders stored in a single place can reduce loss of

company information or damage to the cabinets contents.

5. Companies can also increase security to the files and folders that stored in the cabinet

by getting fire proof units

6. Cabinets can also come with different types of locks to increase the security of

confidential information stored within them.