Trade Fair As An Instrument Of Increasing Marketing Performance
(A Case Study Of Emily Millionaire Enugu)
A trade fair serves as a dynamic platform, fostering an interactive marketplace where businesses showcase their products and services, engage with potential clients, and bolster their marketing performance. This instrumental event not only provides a venue for companies to exhibit their innovations but also facilitates direct consumer interaction, enabling them to comprehend market needs and preferences. By participating in trade fairs, businesses can strategically elevate their brand visibility and forge valuable connections within their industry. The synergy between exhibitors and attendees cultivates an environment conducive to networking, knowledge exchange, and fostering partnerships, thus amplifying marketing efficacy. Additionally, the vibrancy of a trade fair creates an opportunity for businesses to stay abreast of industry trends, gaining insights that can be leveraged to refine marketing strategies. In essence, a well-executed participation in trade fairs becomes a catalyst for enhancing marketing performance, enabling companies to establish a strong market presence, and adapt to evolving consumer demands.
This study concentrated on Trade fair as an instrument increasing marketing performance. A case study of Emily Millionaire Industry Ltd Enugu.
In the light of this, the researcher commenced this work by taking a quick and eursory look at the definitions, evaluation and background information of trade use of several data collection techniques which include:
Questionnaire, personal interviews, observations.
The analysis of this data collected revealed certain prospects and problems shows in the researcher’s presentation and analysis of data.
On that note, the researcher made the following findings
Trade fairs in Enugu stat were organized by Trade fair board have not been very efficient. Therefore call for improvement.
There is a general awareness about Trade fairs as very vital in the revitalization of the nation’s economy.
Trade fairs exhibitions have frequently organized that people are calling for its or regulation and control. Based on the above findings, the research made the following major recommendations participants in trade fairs must have clearly defined objectives for participation in trade fairs.
Scientific and technical ideas must be trade in our fairs rather than monetary transactions.
Emphasis should be made on purchase rather than immediate sales.
Finally, a body be established by government to control the frequency at which fairs are organized in Enugu state
Title Page
Approval Page
Dedication
Abstract
Table Of Content
Chapter One
1.1. Background To The Study
1.2. Statement Of The Problem
1.3. Objectives Of The Study
1.4. Research Questions
1.5. Significance Of The Study
Chapter Two
2.0. Literature Review
2.1. Management Of Trade Fairs And Exhibitions
2.2. Trade Fair As A Promotional Tool
2.3 Economic Importance Of Trade Fair And Exhibition
2.4 The Impact Of Trade Fair Performance Of A Company
2.5 The Role Of Trade Fir In Emily Millionaire
Chapter Three
3.0 Research Methodology
3.1. Sources Of Data Collection
3.2. Population Of The Study
3.3. Determination Of Sample Size
3.4. Sampling Techniques
3.5. Instruments For Data Collection
Chapter Four
4.0 Presentations, Analysis And Interpretation Of Data
4.1. Presentations And Interpretation Of Data
Chapter Five
5.0 Summary Of Findings Recommendations And Conclusion
5.1. Summary Of Findings
5.2. Recommendations
5.3. Conclusion
Bibliography
Appendix
1.1. BACKGROUND TO THE STUDY
Trade fair is a form of promotional derive that enables companies to show and demonstrate their products to both middlemen and ultimate consumers. according to (Ebue) Trade fair is an excellent means of surmounting communication barriers through demonstrations. Trade fairs are time-method of bringing buyers and sellers together under mutually (equal) beneficial contrition are being tricked primarily at potential consumers, while exhibition and books are featured at trade firs which are designed to attract immediate prospect and to create awareness.
People participation in these fairs have privilege to physically examine, make comparison and learn about new products, market movement, competition and new source. This forum (show) are usually designed for special groups in a particular geographical area. (as made in Nigeria trade fair). Individuals who participate in this fair are always Interested and inquisitive about the new trend in a particular field and probably may want to know whether there is any slight change in product. Then when the exhibits are well publicized, managed, staffed the result is an increased sales volume for exhibitors. Edit staffing is considered to be the most essential factors, these show and conventions merely because it is these staff who will attend to the customers, by informing, educating and persuading them to try or use their newly Introduced products.
Trade fairs help in attending companies and enterprises get in touch with their customers and getting many inquires from serious minded enterprises and company executives who end up placing prodders. Trade fair is a good venue for sales promotion and sales.
The role of trade fair in marketing of goods is to increase marketing performance, it also create a forum for physical interaction between manufacturers and their potential customers. Manufacturers use these medium to know how much interest the buyers or consumers show in their products both the new product that are introduced and old product that have been existing in the market and how consumers reach to various features and terms, also how many express purchased intention or place order, since the participation vendors expected several benefit which include generating new sales lead, maintain new customers/contract. (though the public relation officers at the trade fair stand), selling more to present customers at company’s price, meeting new customers, introducing with publication motion pictures and visual materials.
Trade fair is organized at regular interval mostly at the same location and period of the year it usually last from seven to ten days (7 – 10 days). There are basically two kinds of trade fair organized in Nigeria.
The International trade fairs which are zonal into three in this country (Nigeria) are Lagos, Kaduna and Enugu. Lagos serves as a venue for any International trade fair that is to lasted in the Western region while Enugu and Kaduna serve in the Northern regions.
Emily Millionaire Industry Limited with head office in Lagos came into the cosmetic production in the late 1978 while that of Enugu branch was established in 1990. The company have participated in both International and local trade fair to better it’s futures in the cosmetics Industries thus the researcher looks at trade in improving market performance of cosmetic Industries with special Interest on Emily Cosmetics Limited Enugu.
1.2. STATEMENT OF PROBLEM
Trade fair as an Instrument for Increasing marketing performance and the company need not to be over emphasized, but most often the goals of trade fairs are not usually achieved. This starts from the fact that it takes a lot of time searching out the stand of these producer of goods because these stands are not strategically located.
The place is very crowded most often consumers cannot stand for a long struggle getting to those stands.
Most often the attitude of the attendants are noting to write home about infant they do not relate very well to the customers. Question asked or ignored are not often well treated or entirely ignored. One can find that prices of goods in the trade fairs are atimes very high compared to what obtained in the open market. Most of these stands are not attractive. It is not clean and tidy, this stand discourage visitors. These problems no doubt have affected the visitors negatively and thus impacting negatively on the sales of participant. Emily Millionaire is not an explanation. These problems and many more forms the focus of this study.
1.3. OBJECTIVES OF THE STUDY
The main objective of this research work is to critically assess how trade fair can help the marketing of goods of a company’s product.
The objectives are as follows:-
1. To determine how trade fair can help a company to increase their market shares and profits.
2. To determine how trade fair can help stimulate marketing products.
3. If the role aim of trade fair is to create awareness are successful is this statement with reference to past fairs.
4. Whether participants organize and consumers obtain value for their money.
5. Are the participating companies professing trade fairs and to the adjustment when the need arises.
6. To make appropriate recommendations on solving the problem identified.
1.4. SIGNIFICANT OF THE STUDY
This study does not have academics as it’s main significant objective it helps to orientate manufacturing Industries on how, when and where to use promotion and the type of promotional mix to apply as personal selling which is mostly used in trade fairs to enlighten customers on how to use products and the benefits involved in using such product. Other areas in which this work has significance.
1.5. RESEARCH QUESTIONS
1. Is Trade fair the most effective promotional tool?
2. Does Emily Millionaire, participating in Trade fair effects customers awareness of their product?
3. Does participation of Emily Millionaire lead to increase interest of their product?
4. Does Trade fair participation enhance the marketing performance of Emily Millionaire?
5. How Trade fair participation by Emily Millionaire increase customers patronage of their goods?
Promotion and public relation.
Personal selling: Personal selling entails meeting individuals and groups of people and presenting a product to them with the intention of achieving immediate patronage Olabunori (1999:1991) personal selling can be used for many purpose, including creating product awareness, arousing interest, developing product preference, and negotiating price. etc.
Public relation: Public relation as seen by kotler and Armstron (1996:461) is building, good relationship with the firms various public by obtaining favourable publicity, building up a good corporate image and handling or heading of unfavorable rumours, stories and events.
Advertising: of all the methods of marketing promotion advertising is the most used and popular in Nigeria. Advertising is so popular that many people regard it as the main activity of marketing. Olabunori (1999:192).
Advertising is a key paint of marketing that involves the use of media to inform consumers about something, and/or to persuade them to do something.
In effect, it brings products and consumers together, and then modulates the relationship between them pocket mark marketing (1996:25).
Sales promotion: Adirika “et al” (1996:142) view sales promotion as that something extra. That can arouse interest create a buying desire, and spark an immediate reaction from customers, middlemen or company sale force.
Ebue Bona (2000:7) classified it into consumer promotion; trade promotion and sales force promotion.
The tools used in sales promotion are the following:
1. Sampling
2. Premium
3. Offer
4. Dealer contests
5. Trade fair and exhibitions
According to Onyeke (1999:117) trade fair and exhibition as a promotional tool, offers good opportunities for the following.
Trade Fair As An Instrument Of Increasing Marketing Performance:
Trade fairs are indeed valuable instruments for increasing marketing performance for businesses. They provide a platform for companies to showcase their products or services to a targeted audience, engage with potential customers, build brand awareness, and network with industry peers. Here are some ways in which trade fairs can enhance marketing performance:
- Exposure and Brand Awareness: Trade fairs attract a diverse audience, including potential customers, industry professionals, and the media. Participating in a trade fair allows a company to showcase its brand and products to a large number of people in a short amount of time, increasing brand visibility.
- Product Launches: Trade fairs are ideal for launching new products or services. Companies can generate excitement and anticipation by unveiling their latest offerings at these events, drawing in visitors who are specifically interested in new developments in the industry.
- Lead Generation: Trade fairs provide an opportunity to collect valuable leads. Booth visitors who express interest in your products or services can be captured through lead generation techniques like contact forms or QR code scans, enabling follow-up communication and potential conversions.
- Market Research: Interacting with attendees at trade fairs allows companies to gain insights into market trends, customer preferences, and competitor offerings. This information can be used to refine marketing strategies and product development.
- Networking: Trade fairs bring together industry professionals, potential partners, and customers in one location. Building relationships with these stakeholders can lead to collaboration opportunities, partnerships, and customer referrals, all of which can positively impact marketing efforts.
- Product Demonstrations: Trade fairs provide a platform to conduct live product demonstrations, allowing potential customers to experience the product’s features and benefits firsthand. This can significantly influence purchasing decisions.
- Educational Opportunities: Many trade fairs offer seminars, workshops, and presentations on industry topics. Companies can position themselves as thought leaders by participating in or hosting such sessions, increasing their credibility and authority within the industry.
- Media Coverage: Trade fairs often attract media attention, including industry-specific publications and news outlets. Companies can leverage this opportunity to garner media coverage, which can extend their reach and enhance their marketing efforts.
- Feedback and Validation: Engaging with attendees at trade fairs provides an opportunity to receive immediate feedback on products or services. Positive feedback can be used as testimonials, while constructive criticism can inform product improvements and marketing strategies.
- Sales Opportunities: Trade fairs can lead to direct sales, especially if attendees are ready to make purchasing decisions. Offering special promotions or discounts exclusively at the event can further boost sales.
- International Expansion: Trade fairs that attract a global audience can serve as a stepping stone for companies looking to expand into international markets. It provides exposure to potential international partners and customers.
In conclusion, trade fairs offer a multi-faceted approach to enhancing marketing performance. They provide a platform for exposure, lead generation, networking, and market research, all of which can contribute to increased sales and brand growth. However, successful participation in trade fairs requires careful planning, effective booth design, and a well-thought-out marketing strategy to maximize the benefits.