Task Two
Finally, investigate the opportunities presented by exhibitions & trade fairs for the
firm as part of its promotional strategy in moving operations into the international
market, identifying specific trade fairs where possible. (4.3)
Are they useful? How? What are the issues for consideration? Are there
alternatives? Alternatives of course might be related to advancements in
technology. What are the issues for the firm to consider when looking at
participating in such fairs? Again does it fit with the AIDA model? As stated
relate your answer to actual exhibitions/trade fairs where possible again using
referenced material.
– could be completed in a
tabular format
Answer
Exhibitions & Trade Fairs as a marketing strategy
Participating in foreign trade fairs and exhibitions is a vital element of promotional strategy. Trade fairs provide an effective method of exhibiting products and services abroad (Onkvisit, 2004, p. 429). Alpine Map Company for example, which was helped by the state of Colorado to participate in an international trade show in Munich, has foreign sales accounting for forty percent of its total revenue. It is also known in Europe than in the US according to Onkovisit (2004, p. 429).However, successful participation in foreign trade fairs requires proper planning and various considerations as discussed below.
Inferring from Evers (2008, p. 550), trade fairs and exhibitions will provide DS Hotel an opportunity to meet and assess its competitors in Australia. Moreover, it will enable the hotel to explore new markets through identification of a market niche, exchange experiences with other hotels, increase awareness of their products and services and collect information of the new market for example Australian cuisines. It is also worth noting that the hotel will be able to meet and expand their customer range by discussing individual client demands and explore pricing options for hotel products and services. Trade fairs and exhibitions will be a useful tool for DS Hotel as it ventures into Australia as it will provide a platform to examine the market, look for business partners, identify potential areas of investments, promote their products and services and cultivate their image. The hotel will is also able to sell the green and healthy specialized products and their nutritionally balanced foods.
According to Onkvisit (2004, p. 432) exhibitors should put some issues into consideration including the overall cost: space rental costs and transportation, accommodation, staffing, storage and display products costs. Other considerations are according to AIDA marketing model: Space rented should be adequate to avoid overcrowding and hence attracting visitors. The foods prepared should be aimed at creating visitors’ interest. The location of the stand should be in a convenient place, and qualified representatives from the hotel should always be present who will direct the visitors’ interests as a way of increasing their top of mind awareness on the hotel. Business cards and brochures should be available and easily accessible to the visitors. Onkovisit (2004, p. 412) explores alternative promotional strategies: creating publicity through online and media advertisements and telemarketing.
It is evident that Exhibitions and trade fairs in foreign countries despite being costly is an effective form of promotional strategy. With proper planning, DS Hotel can utilize them in establishing their new subsidiary hotel in Australia.
Bibliography
Evers, N. and Knight, J., 2008. Role of international trade shows in small firm internationalization: a network perspective. International Marketing Review, 25(5), pp.544-562.
Onkvisit, S. and Shaw, J.J., 2004. International marketing: Analysis and strategy. Psychology Press.
