TRADE FAIR AS AN INSTRUMENT OF INCREASING MARKETING PERFORMANCE
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TRADE FAIR AS AN INSTRUMENT OF INCREASING MARKETING PERFORMANCE
ABSTRACT
This study focused on trade fairs as a tool for improving marketing performance. A case study of Emily Millionaire Industry Ltd in Enugu.
In light of this, the researcher began this work by taking a brief and cursory glance at the definitions, evaluation, and background information of the trade use of many data collection methodologies, which include:
Personal interviews, observations, and a questionnaire.
The examination of the acquired data indicated some potential and issues, as evidenced by the researcher’s data presentation and analysis.
On that basis, the researcher made the following conclusions.
Trade fairs in Enugu state organised by the Trade Fair Board have not been very effective. Call for improvement.
Trade fairs are widely recognised as critical to the regeneration of the national economy.
Trade fairs and exhibitions are regularly organised, and many are pushing for their regulation and oversight. Based on the findings, the study offered the following significant recommendations: participants in trade fairs should have well defined objectives.
Scientific and technological concepts must be traded at our fairs rather than monetary transactions.
The emphasis should be on purchases rather than immediate sales.
Finally, the government should establish a body to regulate the frequency of fairs in Enugu state.
Chapter one
1.1. BACKGROUND FOR THE STUDY
Trade fairs are a type of promotional event that allows businesses to present and demonstrate their products to both middlemen and end users. According to Ebue, trade fairs are a great way to overcome communication obstacles through demonstrations.
Trade fairs are a time-consuming means of bringing buyers and sellers together in mutually beneficial competition. Exhibitions and publications are featured at trade fairs, which are aimed to draw immediate prospects and raise awareness.
People attending these fairs have the opportunity to physically explore, compare, and learn about new items, market trends, competitors, and new sources. This forum (show) is often meant for specialised groups in a certain geographic area. (as made during the Nigerian trade expo).
Individuals who attend this fair are always interested and curious about the latest trends in a certain industry, and they may want to know whether there has been any little change in product. When exhibitions are well publicised, managed, and staffed, exhibitors see improved sales volume.
Edit personnel is seen as one of the most important components at these shows and conventions, simply because it is these employees that will interact with clients, enlightening, educating, and convincing them to try or use their freshly introduced items.
Trade fairs assist corporations and enterprises in connecting with their clients and receiving numerous inquiries from serious-minded enterprises and corporate leaders who ultimately place bids. A trade fair is an excellent platform for sales marketing and sales.
The purpose of a trade fair in the marketing of goods is to improve marketing performance while also providing a platform for physical interaction between manufacturers and potential customers.
Manufacturers use these mediums to know how much interest buyers or consumers show in their products, both new products that are introduced and old products that have been existing in the market,
and how consumers reach to various features and terms, as well as how many express purchased intention or place order, since the participation vendors expected several benefits, which include generating new sales leads and maintaining new customers/contracts (though the public relations office
Trade fairs are held on a regular basis, usually at the same site and time of year, and they typically run seven to ten days. There are two types of trade fairs organised in Nigeria.
In Nigeria, the international trade fairs are divided into three zones: Lagos, Kaduna, and Enugu. Lagos is the venue for any international trade fair that will take place in the Western region, while Enugu and Kaduna serve in the Northern regions.
Emily Millionaire Industry Limited, with its headquarters in Lagos, began cosmetic production in late 1978, while the Enugu branch was formed in 1990.
The company has participated in both international and local trade fairs to improve its future prospects in the cosmetics industry, thus the researcher examines trade in terms of enhancing market performance in the cosmetic industry, with a focus on Emily Cosmetics Limited Enugu.
1.2. Statement of Problem
Trade fairs as a tool for improving marketing performance and the company should not be overemphasised, although their goals are rarely met. This begins with the fact that it takes a long time to find the stand of these producers of goods since they are not properly positioned.
The place is extremely congested, and most customers are unable to stand for long periods of time to reach the stands.
Most of the time, the attendants do not want to write home about the infant since they do not relate well to the clients. Questions asked or disregarded are not always well received or completely dismissed. One can observe that the pricing of goods at trade fairs are frequently far higher than those bought on the free market.
Most of these stands are unattractive. This stand discourages tourists since it is not neat or orderly. These issues have undoubtedly had a detrimental influence on visitors, resulting in a decrease in participant sales. Emily Millionaire isn’t an explanation. This study focuses on these issues, among many others.
1.3. GOALS OF THE STUDY
The primary goal of this research is to critically evaluate how trade fairs can aid with the marketing of a company’s product.
The objectives are the following:
1. Determine how trade fairs can help a company improve its market share and revenues.
2. Determine how trade fairs might assist promote products.
3. If the goal of a trade fair is to raise awareness, how successful is this statement based on previous fairs?
4. Whether participants organise and consumers get value for money.
5. Are the participating companies professing trade shows and willing to make adjustments as needed?
6. Make suitable recommendations for resolving the situation highlighted.
1.4. Significance of the Study
This study does not have academics as its main significant objective; rather, it assists manufacturing industries in determining how, when, and where to use promotion, as well as the type of promotional mix to apply, such as personal selling,
which is commonly used at trade fairs to educate customers on how to use products and the benefits associated with their use. Other areas in which this work is significant.
1.5. RESEARCH QUESTIONS.
1. Is trade fairs the most effective promotional tool?
2. Does Emily Millionaire’s participation in the Trade Fair affect client knowledge of their product?
3. Does Emily Millionaire’s engagement lead to increased interest in their product?
4. Does Emily Millionaire’s marketing performance improve after participating in trade fairs?
5. How does Emily Millionaire’s participation in trade fairs enhance client demand for their products?
Promotion and public relations.
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