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.

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