Thursday, March 11, 2010
Monday, February 15, 2010
The Role of Exhibitions in Marketing Mix
Before understanding the role of exhibitions in marketing mix, it would be appropriate to understand the concept of exhibition and marketing mix.
Exhibition – A definition:
An exhibition is an activity that is conducted by an organization with an objective to promote and publicize a particular product or service which would ultimately result in the sale of the product / generate business for the organization.
A Brief History of Exhibition:
Exhibitions have long been used as a platform to promote and publicize a product or service. The earliest known instance of an exhibition being used as a marketing tool can be traced back to the 1850’s in England.
Marketing Mix – A definition:
Marketing mix can be defined as a blend of various components that an organization can use effectively to promote and publicize their product. The various components of a marketing mix includes:
• Product
• Place
• Price
• Promotion
It is also known as the four P’s of marketing mix. A successful marketing mix is achieved by effectively manipulating the said four components to obtain a preset sales objective.
Role of exhibitions in marketing mix:
Similar to the marketing mix, there also exists a promotion mix. A promotion mix constitutes of several methods of promotion through which an organization can communicate information about a particular product or service that it has launched or is on the verge of launching, to its intended customers. Some of the methods of promoting a product includes; advertising through various media sources (television, radio, pamphlets, brochures, newsletters, billboards), telemarketing and exhibitions.
Though there are several methods of promoting a product, none of the methods can create as big an impact as can be generated by exhibitions. This can be attributed to the singular fact that an exhibition allows a face to face interaction between an organization and its intended customer.
Moreover, exhibitions offer an organization with a unique platform to showcase their product in an effective manner and at the same time, it also allows a two way communication between the company and its potential customers. On the other hand, other promotional methods are mostly uni-dimensional in nature for eg:- a product that is being promoted by the print or electronic media can only provide a fixed information. A potential customer cannot extract any additional or extra information from this type of product promotion.
Product promotion through exhibitions allows a customer to literally touch and try the product while allowing the organization to gather specific inputs from the customer, which could prove to be extremely useful in customizing their products according to the tastes and preferences of the customer. Exhibitions also facilitate an immediate and personal connection between buyers and sellers.
Exhibitions also play a crucial role in
• Increasing brand preference
• Improving customer relations
• Increasing brand awareness
• Increasing knowledge about a product
• Gain specific insight into the products and services offered by competitors.
• Allows interaction amongst industrial peers.
Causes for unpopularity of exhibitions:
Though exhibitions are widely accepted as extremely effective tools for marketing, it is yet to find widespread popularity amongst the masses. Exhibitions are not very popular as it involves a greater effort in terms of time, travel, expenditure and manpower as compared to the other modes of product promotions. Moreover, the other methods of product promotions can be carried out right from the comfort of their offices while managing the day to day affairs of their office.
Exhibition – A definition:
An exhibition is an activity that is conducted by an organization with an objective to promote and publicize a particular product or service which would ultimately result in the sale of the product / generate business for the organization.
A Brief History of Exhibition:
Exhibitions have long been used as a platform to promote and publicize a product or service. The earliest known instance of an exhibition being used as a marketing tool can be traced back to the 1850’s in England.
Marketing Mix – A definition:
Marketing mix can be defined as a blend of various components that an organization can use effectively to promote and publicize their product. The various components of a marketing mix includes:
• Product
• Place
• Price
• Promotion
It is also known as the four P’s of marketing mix. A successful marketing mix is achieved by effectively manipulating the said four components to obtain a preset sales objective.
Role of exhibitions in marketing mix:
Similar to the marketing mix, there also exists a promotion mix. A promotion mix constitutes of several methods of promotion through which an organization can communicate information about a particular product or service that it has launched or is on the verge of launching, to its intended customers. Some of the methods of promoting a product includes; advertising through various media sources (television, radio, pamphlets, brochures, newsletters, billboards), telemarketing and exhibitions.
Though there are several methods of promoting a product, none of the methods can create as big an impact as can be generated by exhibitions. This can be attributed to the singular fact that an exhibition allows a face to face interaction between an organization and its intended customer.
Moreover, exhibitions offer an organization with a unique platform to showcase their product in an effective manner and at the same time, it also allows a two way communication between the company and its potential customers. On the other hand, other promotional methods are mostly uni-dimensional in nature for eg:- a product that is being promoted by the print or electronic media can only provide a fixed information. A potential customer cannot extract any additional or extra information from this type of product promotion.
Product promotion through exhibitions allows a customer to literally touch and try the product while allowing the organization to gather specific inputs from the customer, which could prove to be extremely useful in customizing their products according to the tastes and preferences of the customer. Exhibitions also facilitate an immediate and personal connection between buyers and sellers.
Exhibitions also play a crucial role in
• Increasing brand preference
• Improving customer relations
• Increasing brand awareness
• Increasing knowledge about a product
• Gain specific insight into the products and services offered by competitors.
• Allows interaction amongst industrial peers.
Causes for unpopularity of exhibitions:
Though exhibitions are widely accepted as extremely effective tools for marketing, it is yet to find widespread popularity amongst the masses. Exhibitions are not very popular as it involves a greater effort in terms of time, travel, expenditure and manpower as compared to the other modes of product promotions. Moreover, the other methods of product promotions can be carried out right from the comfort of their offices while managing the day to day affairs of their office.
Sunday, January 10, 2010
Do you feel compelled to participate in a tradeshow only because of your competitor's presence?
Amongst other objectives, participation in a tradeshow can also help you stay abreast of the latest industry trends
Friday, September 4, 2009
Looking at making a first impression on tradeshow visitors
Make sure your stand is eye catching. Displays can be enhanced with lighting or high quality AV presentations and graphic displays these can provide an impressive company overview and will bring your products or services to life. Alternatives for those on a budget include pop up displays, banner stands and posters displays.
A lot of visitors to the exhibition will be seeing you for the first time and it is important that they remember you and your products. A good way to do this is to give out a brochure or a promotional leaflet, this works even better if your business card is attached. Make sure that all of your business stationery is up date and your logo and identity remains consistent throughout.
People will want to order from you on the day so make sure you have enough order forms to hand.
Make sure all your staff are appropriately dressed and where possible, are wearing printed T-Shirts; this is an ideal way for you to convey a professional image of your company.
Customers like to take gifts home from exhibitions. This can include anything from a box of chocolates, a CD ROM or a free product and don't forget the promotional merchandise, all prominently displaying your company logo and contact details.
Keep a record of all customers who have taken an interest in your stand, try to take down as many names, addresses, phone numbers and e-mail addresses, as you possible can. This will help you in the next section.
A lot of visitors to the exhibition will be seeing you for the first time and it is important that they remember you and your products. A good way to do this is to give out a brochure or a promotional leaflet, this works even better if your business card is attached. Make sure that all of your business stationery is up date and your logo and identity remains consistent throughout.
People will want to order from you on the day so make sure you have enough order forms to hand.
Make sure all your staff are appropriately dressed and where possible, are wearing printed T-Shirts; this is an ideal way for you to convey a professional image of your company.
Customers like to take gifts home from exhibitions. This can include anything from a box of chocolates, a CD ROM or a free product and don't forget the promotional merchandise, all prominently displaying your company logo and contact details.
Keep a record of all customers who have taken an interest in your stand, try to take down as many names, addresses, phone numbers and e-mail addresses, as you possible can. This will help you in the next section.
How important is the PLANNING before the Exhibition?
It is important to plan your marketing strategy early and decide what promotional material you will need before, during and after the exhibition.
Many exhibitors let their current customers know where their stand is located a few weeks before. You can do this through an advert on your website, an email campaign or a direct mail shot, it is also a good idea to remind people of any special offers you will be offering on the day. No matter what your budget there are always ways to maximize your success, a printed brochure, leaflets, mail shots, email campaigns and web advertising are all ways to generate visits to your stand.
It's also imperative that marketing get the attendee list and announce upcoming products. At the same time, sales reps need to get contact attendees book meetings far in advance of the show, where the rep can conduct demos or meet one on one with key accounts at the booth. Some companies reserve a hospitality suite in one or several of the local hotels to conduct meetings, if you don't have a large enough meeting space.
It is important to plan your marketing strategy early and decide what promotional material you will need before, during and after the exhibition.
Many exhibitors let their current customers know where their stand is located a few weeks before. You can do this through an advert on your website, an email campaign or a direct mail shot, it is also a good idea to remind people of any special offers you will be offering on the day. No matter what your budget there are always ways to maximize your success, a printed brochure, leaflets, mail shots, email campaigns and web advertising are all ways to generate visits to your stand.
It's also imperative that marketing get the attendee list and announce upcoming products. At the same time, sales reps need to get contact attendees book meetings far in advance of the show, where the rep can conduct demos or meet one on one with key accounts at the booth. Some companies reserve a hospitality suite in one or several of the local hotels to conduct meetings, if you don't have a large enough meeting space.
Tradeshow Exhibitors Network Intro
A knowledge forum for trade show exhibitors who are planning for an upcoming high quality trade show exhibits, conventions and expos. We want to enhance the expertise of professionals in exhibit and event marketing through education, information and networking. TSE Network professional members represent both exhibit managers and suppliers to the industry.
Find number of resources to promote your tradeshow, drive traffic to your trade show booth, and maximize customer interaction at your trade show booth. Trade show participation is significant opportunity to enhance brand and product visibility, promote new and existing products, generate leads and drive meaningful sales.
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